Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Telecommunications company 360 Networks and a representative of its creditors have settled their claims against the estate of defunct law firm Dreier LLP, whose founder, Marc S. Dreier, pleaded guilty in 2009 to running a massive Ponzi scheme. 360 Networks had retained Dreier LLP as its counsel while it was in bankruptcy. Part of the firm’s role was to hold money recovered from preference actions in escrow. After Mr. Dreier’s arrest, it was revealed that no money was held in escrow. The newly reorganized 360 Networks filed a claim against Dreier LLP’s estate for the amount that should have been in its account—more than $38 million. A court-appointed representative of 360 Networks’ creditors filed a claim for over $85 million.

This content has been archived.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 Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

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]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.