RCM Fights Polaroid Over Fraud, Trademarks

Law360, New York (March 11, 2009, 12:00 AM EDT) -- Ritchie Capital Management LLC is fighting claims by bankrupt Polaroid Corp. that it was aware of a $3 billion fraud scheme that felled the camera company's owner, Petters Group Worldwide LLC, and is seeking a declaration that the hedge fund company's interests in Polaroid's trademarks are valid and enforceable.

In an answer and counterclaim filed Wednesday in the U.S. Bankruptcy Court for the District of Minnesota, RCM lashed out at Polaroid for filing a February lawsuit against it and another hedge fund, Acorn Capital Group....
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