Fund Objects To $70M Bank Settlement In Rothstein Case

Law360, New York (February 21, 2012, 10:53 PM ET) -- CBM Capital LLC on Tuesday opposed a $70 million settlement between Gibraltar Private Bank & Trust and bankruptcy trustees over Gibraltar's alleged involvement in a $1.2 billion Ponzi scheme perpetrated by former attorney Scott Rothstein.

In an objection filed in Florida bankruptcy court, CBM, a creditor of bankrupt investment fund Banyon 1030-32 LLC, argued that the Thursday motion for approval of the settlement between Gibraltar,  the trustees of now-defunct Rothstein Rosenfeldt Adler PA — Rothstein's former law firm — and Banyon 1030-32 did not sufficiently explain...
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