We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Woodbridge Creditors Object To Claim Assignment Plan

Law360 (August 10, 2018, 8:33 PM EDT) -- A group of noteholders of the Woodbridge Group of Companies LLC says the debtor’s proposed plan disclosure statement is impermissible because it would seek to solicit creditors with potential class claims relating to a Ponzi scheme run by the debtor to assign those claims to a plan litigation trust.

In the objection, the group of class claimants, which has brought aiding and abetting claims against Comerica Inc. in California federal court, says the liquidation plan proposed by Woodbridge seeks to entice creditors to assign their causes...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.