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Judge Ships Winstar Case To New Home

Law360 (December 11, 2007, 12:00 AM EST) -- Blackstone Group LP and two other financial powerhouses have won their battle to change the venue of a case accusing them of misrepresenting the value of bankrupt Winstar Communications prior to its sale to IDT Corp. for $42.5 million.

On Monday, U.S. District Judge Gerard Lynch endorsed the bid of Blackstone Group LP, Impala Partners LLC and Citigroup Inc. to move the suit to Delaware bankruptcy court, saying that “common sense” dictated the measure.

“The matter is closely tied to the bankruptcy case,” the opinion read....
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