Sentinel Gets Court OK To Pay Investors $300M

Law360, New York (August 21, 2007, 12:00 AM EDT) -- Sentinel Management Group Inc. on Monday won bankruptcy court approval to distribute almost $300 million in clearance account funds to investors despite protests from the Securities and Exchange Commission and Farr Financial Inc., both of which have sued the fund in the last week in the hopes of freezing its assets.

The bankruptcy court on Monday acceded to a request Sentinel had made ealier in the day for emergency permission for its clearing agent Bank of New York to distribute the $312 million, although the court...
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