Paul Hastings Settles BankUnited Avoidance Action

Law360, New York (May 8, 2013, 10:49 PM EDT) -- A Florida bankruptcy judge on Wednesday signed off on a $400,000 settlement between Paul Hastings LLP and BankUnited Financial Corp., resolving an avoidance action that sought to recover more than $1 million that the firm received on the eve of the bank's Chapter 11 filing.

Under the stipulation approved by U.S. Bankruptcy Judge Laurel M. Isicoff, Paul Hastings will pay $400,000 to the estate of the now-reorganized bank, and the parties will provide each other with mutual releases.

“The stipulation is fair, reasonable and in best...
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