Chem Rx Trustee Urges 2nd Circ. To Consider Exec Fraud Suit

Law360, New York (February 1, 2013, 9:18 PM EST) -- The trustee of bankrupt pharmacy Chem Rx Corp. on Thursday urged the Second Circuit to revive its suit accusing former executives of raking in $106 million through fraudulent transfers connected to a 2007 leveraged buyout and leaving the company floundering in debt it could never repay.

AP Services LLP, as trustee of the Chem Rx litigation trust, said in a brief before the Second Circuit that a lower court had erred in dismissing the suit alleging former CEO Jerry Silva, his wife Rosalie Silva, and his...
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