PlusFunds One Step Closer to Selling Its Assets

Law360, New York (April 19, 2006, 12:00 AM EDT) -- A bankruptcy judge has given FTVentures a green light to purchase PlusFunds Group Inc., but licensing issues are threatening the proposed deal.

The sale of Plus Funds’ assets is unopposed by Diana G. Adams, the acting United States Trustee for New York’s Southern District, who filed a notice of non-objection with the court on Monday.

The transfer of PlusFunds’ licenses with Standard & Poor’s and OTC Inc. are pivotal to the sale.

According to court papers, PlusFunds held an auction at their their attorneys’ office on...
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