Winston Violated Duties To Lancelot Funds, 7th Circ. Hears

Law360, Chicago (April 8, 2013, 5:09 PM EDT) -- The bankruptcy trustee for Lancelot Investors Fund Ltd. and another entity that lost money in Tom Petters' Ponzi scheme asked the Seventh Circuit on Monday to reinstate his malpractice suit alleging Winston & Strawn LLP, onetime counsel for the funds and their management companies, violated its professional obligations.

Ronald Peterson of Jenner & Block LLP, the Chapter 7 trustee for Lancelot Investors Fund Ltd. and Colossus Capital Fund Ltd., claims Winston failed to get the funds' informed consent to its simultaneous representation and also failed to...
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