Good news for Miami-Dade businessman Leonidas Ortega Trujillo, target of a creditor’s decadeslong pursuit: U.S. Bankruptcy Court Chief Judge Laurel Isicoff has dismissed a $600 million judgment against him. But the litigation by plaintiff Interamerican Asset Management Fund Ltd. over alleged fraud by the businessman—whose family once controlled Ecuador’s fourth largest bank—appears to be far from over, with an appeal likely in the works.
“I certainly am aware that the creditor has spent over 20 years and a lot of money chasing this matter,” Trujillo’s attorney Paul L. Orshan said. “It’s certainly possible that with this amount of money, it may appeal.”
