Judge Refuses To Hand Over Millions To Cendant

Law360, New York (May 7, 2007, 12:00 AM EDT) -- Cendant Corp. has hit a snag in its effort to collect $31.5 million from its former chief, with a federal judge denying the real estate giant summary judgment after questioning the reasonableness of a prior settlement.

U.S. District Judge William Walls on Thursday rejected Cendant’s motion for summary judgment in its case against K. Erik Shelton, concerned over whether a previous settlement was fair to Cendant.

“The court finds that Shelton raises an issue of triable fact regarding whether Cendant paid more than was reasonable to...
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