Ex-Gerova Unit Chief Wants Out Of Stillwater Action

Law360, New York (July 8, 2011, 11:50 AM EDT) -- An ex-Gerova Advisors LLC president named in a proposed contract class action over Gerova Financial Group Ltd.'s purchase of hedge fund Stillwater Capital Partners Inc. assets told a New York federal judge on Thursday that a fraudulent conveyance claim against him won't fly.

Jason Galanis told U.S. District Judge Shira A. Scheindlin the sole claim against him in investor Julie Russo's five-count, $100 million damages suit was brought under the Florida Uniform Fraudulent Transfer Act — a statute that can't be brought to bear against him....
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