Bear Stearns ordered to return $160m in Manhattan case

Fri Feb 16, 2007



Bear Stearns was ordered by a federal bankruptcy judge yesterday to return about $160 million ($125.1 million plus interest) to the estate of a failed hedge fund, Manhattan Investment Fund.

The ruling, issued by Judge Burton Lifland, concluded that Bear had not been diligent and timely in investigating possible fraudulent money transfers that...

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