Chapter 7 Trustee Sues For $70M

Law360, New York (September 21, 2006, 12:00 AM EDT) -- The Chapter 7 Trustee in American Business Financial Services Inc.’s bankruptcy case has filed a lawsuit seeking more than $70 million from six defendants who allegedly defrauded the company’s estate after it filed for bankruptcy protection in January 2005.

The suit brought by Chapter 7 Trustee George L. Miller names Greenwich Capital Financial Products Inc., Ocwen Loan Servicing LLC, Wells Fargo Bank N.A., Law Debenture Trust Company of New York, and The Berkshire Group LP and Michael W. Trickey as defendants.

Miller’s complaint didn’t mince words,...
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