A hedge fund that invested $200 million in Scott Rothstein’s Ponzi scheme is fighting to torpedo several settlements reached by Herbert Stettin, the bankruptcy trustee for Rothstein’s defunct law firm.

The fund, Platinum Partners Value Arbitrage Fund, has claims and suits pending against some of the settling parties but can’t pursue them if U.S. Bankruptcy Judge Raymond Ray in Fort Lauderdale approves settlements with bar orders killing third-party lawsuits.

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