United States Seventh Circuit

In an action involving the distribution of assets from a failed investment fund, district court's approval of court-appointed receiver's distribution plan is affirmed where the court did not abuse its discretion when approving the receiver's proposal to give preference to custodial investors over managed accounts.

Appellate Information

• Argued 02/12/2009
• Decided 03/18/2009
• Published 03/18/2009

Judges

• EASTERBROOK, Chief Judge., Before EASTERBROOK, Chief Judge, and FLAUM and MANION, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• Shermin Kruse, Ray G. Rezner (argued), Barack, Ferrazzano, Kirschbaum & Nagelberg LLP, Chicago, IL, for Appellants., David S. Cochran, pro se., Michael Gurland, for Not Party Phillip L. Stern in No. 08-3798.


• For Appellees:
  
• Steven J. Levine, S.E.C., Chicago, IL, James P. Marsh (argued), Momkus McCluskey, LLC, Lisle, IL, for Plaintiff-Appellee., Pravin Rao, Perkins Coie, Patrick W. Blegen, Blegen & Garvey, Chicago, IL, for Defendants., Stephen D. Libowsky (argued), Howrey LLP, Chicago, IL, for Appellee.