Peregrine Bankruptcy Judge Approves Bulk Bids, Defers Payout
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Peregrine Financial Group Inc.’s liquidating trustee can consider bulk offers for futures client accounts from other commodities firms, a U.S. bankruptcy judge said.
While Judge Carol A. Doyle in Chicago today agreed with Trustee Ira Bodenstein’s position that futures client funds may most efficiently be distributed through the sale of accounts to another firm, she deferred ruling on his request for approval of a proposed interim distribution of $123 million.