Dreier Trustee's Deals With Hedge Fund, Ex-Wife OK'd

Law360, New York (December 1, 2011, 9:41 PM EST) -- The Chapter 11 trustee for Dreier LLP, which was felled by founder Marc Dreier’s Ponzi scheme, won a New York bankruptcy judge’s approval Wednesday for separate settlements that end disputes with hedge fund Elliott Associates LP and Dreier’s ex-wife.

The Elliott settlement puts to rest a battle over who owns works by Andy Warhol, Roy Lichtenstein, Mark Rothko and several other world-renowned artists as well as how to handle the fund’s $100 million claim in the bankruptcy. The other deal resolves trustee Sheila M. Gowan’s suit...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.