Peregrine CEO's Receiver Can Surrender Life Insurance, Plane

Law360, Chicago (August 8, 2012, 2:19 PM EDT) -- The receiver in the U.S. Commodity Futures Trading Commission's fraud suit against bankrupt Peregrine Financial Group Inc. won an Illinois federal judge's approval Wednesday to surrender CEO Russell R. Wasendorf Sr.'s stake in a plane and try to maximize the value of two life insurance policies he owns.

U.S. District Judge Rebecca R. Pallmeyer granted receiver Michael M. Eidelman's bid to turn in a Wasendorf life insurance policy issued in 2004 for its $1.3 million cash surrender value, with the proceeds to be placed in a...
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