Bankruptcy Trustee for Peregrine Financial asks court for more money to file lawsuits

The Chapter 7 Bankruptcy Trustee in the Peregrine Financial case has petitioned the court for approval of a raise for Peregrine’s corporate counsel.  According to papers filed with the court, the best way to maximize returns for creditors, including customers who have lost money since the brokerage collapsed, is to file lawsuits to recovery money for the bankruptcy estate.

Some customers have objected to the pay raise for the attorney. However, the Trustee alleges it is in the best interest of all concerned that she continues working to recover as much money as possible for the estate.

For more details on this story, see “Peregrine Financial trustee mulls lawsuits to retrieve funds.”

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