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Bayou Wins Right To Sue 'Redeemer Defendants'

Law360 (August 13, 2007, 12:00 AM EDT) -- The judge overseeing Bayou Group LLC's Chapter 11 proceedings has affirmed the legitimacy of a central component of Bayou's recovery plan—the 119 fraudulent transfer lawsuits it has filed against those who redeemed their investments from Bayou before it imploded.

Bankruptcy Judge Adlai S. Hardin, Jr. of the U.S. Bankruptcy Court for the Southern District of New York clarified Thursday why he denied 24 of these so-called redeemer defendants' motions for summary judgment last month.

His statement implied that all 110 of the adversarial proceedings still pending...
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