Tuesday, April 3, 2012

Attorney for Palm Beach Finance Bankruptcy Trustee on Passage of HF 1384 "Unfair and Inequitable "

Statement by attorney Michael Budwick, representing Barry Mukamal Trustee of the bankrupt Palm Beach Finance hedge funds:

We believe it is unfair and inequitable to the victims of the Petters fraud to modify retroactively an existing statutory cause of action, particularly after we have invested substantial resources preparing and filing scores of lawsuits. In the coming weeks we intend to review the appropriateness of retroactive application.

According to the Strib, Doug Kelly is considering challenging the constitutionality of the law.