SEC 'Extremely Concerned' About Woodbridge Ch. 11 Case

Law360, Wilmington (December 5, 2017, 10:09 PM EST) -- The U.S. Securities and Exchange Commission made its presence felt Tuesday during the first-day bankruptcy hearing for real estate development firm the Woodbridge Group of Companies LLC, with its attorney saying it was “extremely concerned” about the Chapter 11 case and whether the debtor was operating a fraudulent scheme.

During a hearing in Wilmington, Delaware, SEC attorney David Baddley said that Woodbridge, which the agency has been investigating for potential securities law violations connected to its fundraising, was “not a typical Chapter 11 debtor,” and wanted...
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