Bayou Group Judge OKs $5.3M Deal With Goldman Sachs

Law360, New York (October 9, 2013, 6:27 PM EDT) -- A New York bankruptcy judge on Wednesday signed off on a $5.3 million deal that resolves a long-standing dispute between a defunct group of hedge funds’ litigation trust and a Goldman Sachs Group Inc. unit surrounding Goldman’s alleged role in the group’s 2005 Ponzi scheme.

U.S. Bankruptcy Judge Robert D. Drain approved the settlement, which was presented to the court last month after a series of mediation sessions between Goldman Sachs Execution & Clearing LP and Bayou Group LLC’s unsecured creditors over Goldman’s $20.7 million claim...
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