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...
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