The government and the trustees charged with liquidating the estate of disbarred attorney Marc S. Dreier and his defunct 250-attorney law firm hit a stumbling block Wednesday when a federal bankruptcy judge said he could not sign off on two agreements reached between the parties after months of negotiation.
The first agreement required GSO Capital Partners, which invested in fake promissory notes peddled by Dreier, to pay about $9.5 million to the trustees. In return, the trustees agreed to release GSO from claims relating to payments it received as a result of the fraud. The agreement also barred third-party claims against GSO “releasees” that related to “Marc Dreier, Dreier LLP, and the Note Fraud Funds.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Not a Bloomberg Law Subscriber?
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]