Peregrine Trustee Pushed To Explain Bid For GC Raise

Law360, Chicago (August 30, 2012, 5:13 PM EDT) -- An Illinois bankruptcy judge refused to sign off on a $20,000 raise for Peregrine Financial Group Inc.'s general counsel on Thursday, telling the collapsed brokerage firm's liquidating trustee he needs to first explain why the pay boost, which raised the ire of commodity customers, is appropriate.

U.S. Bankruptcy Judge Carol A. Doyle slated a hearing on the salary increase issue for next week, but granted the rest of Chapter 7 trustee Ira Bodenstein's motion to continue running Peregrine's limited business operations, including accounting functions and human...
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