Peregrine Forex, Metals Clients To Sue Over Funds, Atty Says

Law360, Chicago (October 11, 2012, 5:33 PM EDT) -- Foreign exchange and metals customers of Peregrine Financial Group Inc. said Thursday they planned to launch an adversary proceeding in Illinois to force the firm's bankruptcy trustee to turn over their funds or reclassify them as secured interests in the estate.

Their attorney, Vivian Drohan of Drohan Lee LLP, agreed to withdraw a motion asking for that relief during a hearing before U.S. Bankruptcy Judge Carol A. Doyle, who said an adversary suit would likely be the more appropriate way to handle the issue.

The foreign...
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