Peregrine Trustee Holds Off On Plan To Return $123M In Funds

Law360, Chicago (September 12, 2012, 4:31 PM EDT) -- Peregrine Financial Inc.'s bankruptcy trustee agreed to take more time Wednesday to consult with the U.S. Commodity Futures Trading Commission on how to test the validity of the firm's financial records before a judge decides whether to approve his plan to return $123 million to the collapsed firm's customers.

On the suggestion of an attorney for Chapter 7 trustee Ira Bodenstein that was echoed by the CFTC, U.S. Bankruptcy Judge Carol A. Doyle set an evidentiary hearing for Sept. 21. There, the regulator and the trustee...
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