Gulfstream Execs To Pay Trustee $1.9M To Settle Lawsuits

Law360, New York (December 9, 2013, 7:05 PM EST) -- Former executives of bankrupt airline Gulfstream International on Friday entered a proposed settlement with the liquidating trustee to receive a $1.9 million payment on their D&O insurance policy and submit it to the trustee’s fund to avoid prolonged litigation alleging they breached their duty to the company.

The plan calls for six Gulfstream International executives — Thomas McFall, Robert Brown, Gary Arnold, Gary Fishman, Richard Schreiber and Barry Lutin — to cause their D&O liability insurer to pay $1.9 million to liquidating trustee Kenneth A. Welt...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.