Michael Budwick, left, and Solomon Genet, right, of Meland Russin & Budwick in Miami. Courtesy photos.
After eight years of investigation and litigation, Michael S. Budwick and Solomon B. Genet of Meland Russin & Budwick in Miami negotiated a $49 million settlement agreement with General Electric Capital Corp. over claims the Boston-based lender became a co-conspirator in one of the biggest Ponzi schemes in history.
The win stems from a Florida bankruptcy case, in which Budwick and Genet represent Barry E. Mukamal, trustee for two Florida hedge funds — Palm Beach Finance Partners L.P. and Palm Beach Finance II L.P. — down $651 million after lending it to businessman Tom Petters.
