Petters Trustee Reaches $93M Clawback Deal With Fund

Law360, New York (December 1, 2014, 7:51 PM EST) -- The trustee for companies owned by convicted Ponzi schemer Thomas Petters has reached a $93 million clawback deal with a fund that received payouts before the scheme collapsed.

Trustee Douglas Kelley, the lawyer in charge of the bankruptcy process, told a Minnesota bankruptcy court last week he'd reached a deal under which Epsilon Global Active Value Fund II would pay $92.7 million and settle all of Kelley's claims on it. The money represents what EGAVF got from Epsilon Global Master Fund II LP, which has already...
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