Skadden To Pay $4.25M To Settle Fletcher Ch. 11 Tiff

Law360, New York (March 21, 2014, 7:57 PM EDT) -- The trustee in hedge fund Fletcher International Ltd.'s Chapter 11 case on Friday asked a New York federal bankruptcy court to approve a settlement between the company, several creditors and Skadden Arps Slate Meagher & Flom LLP, which agreed to pay $4.25 million.

Fletcher's trustee and various affiliated funds had accused Skadden of inadequately protecting the interests of the funds and their investors' claims in the bankruptcy. Skadden denied the claims, and indicated that it would vigorously defend itself against them in any potential litigation....
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