Peregrine Trustee Can Run Business Ops, Pay Key Employees

Law360, Chicago (July 13, 2012, 2:31 PM EDT) -- An Illinois federal judge on Friday gave Peregrine Financial Group Inc.'s bankruptcy trustee approval to run limited business operations for the beleaguered futures broker for at least 60 days and to retain employees the trustee said are necessary to investigate the company’s assets.

U.S. Bankruptcy Judge Carol A. Doyle issued the order authorizing Chapter 7 trustee Ira Bodenstein to conduct accounting and other operations for Peregrine, which did business as PFGBest, and directing JPMorgan Chase & Co. to honor all checks the company draws on its...
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