Kaye Scholer Says GSC Can't Seek Sanctions After Settlement

Law360, Los Angeles (March 29, 2013, 7:52 PM EDT) -- Kaye Scholer LLP urged a New York bankruptcy court Friday to toss GSC Group Inc. and Black Diamond Capital Management LLC's bid for sanctions against the firm, saying a $1.5 million settlement it reached with the U.S. trustee in February barred the motion.

Kaye Scholer and firm partner Michael B. Solow asked the court to award the firm costs in opposing the motion, saying the pending settlement it agreed to with the U.S. trustee, which had sought to oust it from GSC's Chapter 11 case, precluded...
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