Heller Creditors Can Sue Banks Over $51M: Judge

Law360, New York (April 23, 2009, 12:00 AM EDT) -- The unsecured creditors committee for Heller Ehrman LLP has been given the green light to challenge the secured status of two banks that the defunct law firm paid $51 million during the 90 days before its bankruptcy filing.

Judge Dennis Montali of the U.S. Bankruptcy Court for the Northern District of California issued an order Monday giving the creditors committee the go-ahead to sue Bank of America NA and Citibank NA.

At the same time, Judge Montali specifically gave the committee the right to pursue actions...
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