Former Chem Rx Execs Dodge Trustee's Suit Over 2007 Buyout

Law360, New York (November 7, 2012, 11:47 PM EST) -- A New York federal judge on Wednesday tossed a suit against the former executives of Chem Rx Corp. looking to avoid and recover allegedly fraudulent transfers in connection with a 2007 leveraged buyout of CRC’s predecessor in interest.

U.S. District Judge Lewis A. Kaplan dismissed each count in the amended complaint, filed against former CEO Jerry Silva, his wife Rosalie Silva and his son Steven Silva, by the trustee of the CRC Litigation Trust, an entity created by a bankruptcy court to pursue claims on behalf...
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