Lawyer denies claims that bankruptcy is litigation tactic
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(Reuters) - The New York judge overseeing the bankruptcy of two MatlinPatterson Global Advisersâ distressed investment funds said on Thursday that he will enter a preliminary order confirming the fundsâ protection against ongoing foreign litigation.
U.S. Bankruptcy Judge David Jones in Manhattan said during a virtual hearing that he will provisionally approve the order but give litigants time to object if they take issue with the shield. Lawyers for the MatlinPatterson funds at Simpson Thacher & Bartlett said during the hearing that the order is key to ensuring that they do not become even more embroiled in ongoing litigation in Brazil and the Caym