Dreier Investors Say Profits Weren't Part Of Ponzi Scheme

Law360, New York (May 21, 2013, 7:39 PM EDT) -- Attorneys for two investors being sued for millions by Dreier LLP's Chapter 11 trustee told a New York bankruptcy judge Tuesday that the trustee can't prove that the profits they received from their investments in the defunct firm were part of a Ponzi scheme.

Trustee Sheila M. Gowan of Diamond McCarthy LLP sued Westford Asset Management LLC and Amaranth LLC and their affiliates in separate adversary proceedings in 2010 in an effort to recover $137 million and $28 million in profits, respectively, that she says were...
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Case Information

Case Title

Dreier LLP


Case Number

1:08-bk-15051

Court

New York Southern

Nature of Suit

Date Filed

December 16, 2008

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