Federal Judge Approves Settlements in Dreier Case

A New York federal judge has approved several settlement agreements between the government, trustees charged with liquidating the estate of disbarred attorney Marc Dreier and his defunct 250-attorney law firm, and other parties affected by his massive fraud. Judge Jed S. Rakoff ruled Friday that a coordination agreement, which prevents the federal government from going after the proceeds of avoidance actions brought by the trustee for Dreier LLP, was "reasonable and in the best interests of the victims collectively."