Wyly Family Tells 2nd Circ. Asset Freeze Bucks Ch. 11 Stay
By Pete Brush ( June 24, 2015, 8:14 PM EDT) -- The family of ex-Michael's Stores Inc. Chairman Sam Wyly and his deceased brother Charles Wyly Jr. told the Second Circuit on Wednesday that a district court couldn't freeze their assets because of Wyly bankruptcy filings, but the U.S. Securities and Exchange Commission said the freeze was legal and necessary in anticipation of running down an eventual $300 million judgment....
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