Probe Sought In Ch. 11 Tied To Alleged Indian Fraudster
By Alex Wolf (March 30, 2018, 10:00 PM EDT) -- The federal government's bankruptcy watchdog is seeking the appointment of a special examiner to investigate Indian billionaire Nirav Modi's ties to his bankrupt U.S. jewelry businesses, citing accusations that he orchestrated a $2 billion banking fraud in India.
Responding to concerns raised this week by an Indian bank claiming Modi procured more than $1 billion in unauthorized loans from the institution, U.S. Trustee William K. Harrington's office urged a New York bankruptcy judge on Friday to appoint an examiner in the one-month-old Chapter 11 case for Firestar Diamond Inc. and affiliates to ensure they are not tainted by any of Modi's...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!