Getty Trustee Hits Former Owners With $6.5M Clawback Suit

Law360, Wilmington (December 05, 2013, 8:35 PM ET) -- The liquidation trustee for the estate of Getty Petroleum Marketing Inc. has filed an adversary complaint against the men who purchased the company from a unit of OAO Lukoil for $1 in 2011, claiming the buyers drained $6.5 million from the company mostly to line their own bank accounts.

In the complaint filed Nov. 26 in the U.S. Bankruptcy Court for the Southern District of New York, trustee Alfred T. Giuliano claims Bjorn Aaserod and Joseph Scott Karro grabbed millions of dollars from GPMI’s coffers to...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required