Sunwest Creditors Hope To Stay SEC Ponzi Case

Law360, New York (April 13, 2009, 12:00 AM EDT) -- Investors and creditors of Sunwest Management Inc. have asked a federal judge to stay a securities fraud action by federal regulators as well as the former CEO’s personal Chapter 11 proceeding in order to make headway on a potential restructuring plan.

On Friday, the tenants-in-common committee and the creditors committee pursuing claims in former Sunwest CEO Jon Harder’s bankruptcy requested a 60-day halt to the Chapter 11 suit and the U.S. Securities and Exchange Commission’s fraud action in order to evaluate the district court’s recent decision...
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