Dreier Client Loses Bid To Stay Blackstone Settlement

Law360, New York (June 30, 2010, 6:32 PM EDT) -- A judge on Wednesday denied former Dreier LLP client Paul Gardi’s request to stay a settlement involving the defunct law firm and a Blackstone Group affiliate that invested in an illegal scheme allegedly run by the firm’s disgraced founder, Marc S. Dreier.

Judge Stuart M. Bernstein issued a ruling from the bench in the U.S. Bankruptcy Court for the Southern District of New York denying Gardi’s request to stay the initial approval of the settlement while he appeals the order.

“Gardi’s motion repeats the same arguments...
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