Judge Combines Suits As Investors Vie For Insurance Polices

Law360, New York (December 18, 2012, 3:55 PM EST) -- A New York state judge on Tuesday consolidated two lawsuits in which two investment firms are battling for control of life insurance polices tied to an alleged $28 million fraud by a now-defunct insurance broker's employee.

Judge Marcy S. Friedman said at the conclusion of a hearing that the two lawsuits, one brought by affiliates of investment firm CMS Cos. and another by Sands Brothers Asset Management LLC affiliate Genesis Merchant Partners LP, involve the same life insurance policies and should be consolidated for now. Whether...
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