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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Case Information

Case Title

U.S. Commodity Futures Trading Commission v. Peregrine Financial Group, Inc. et al


Case Number

1:12-cv-05383

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Rebecca R. Pallmeyer

Date Filed

July 9, 2012


Case Title

Peregrine Financial Group, Inc.


Case Number

1:12-bk-27488

Court

Illinois Northern

Nature of Suit

Date Filed

July 10, 2012

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