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Grede v. Dynamic Allocation CTA Fund LLC, 10-cv-01630. (2018)

Court: District Court, N.D. Illinois Number: infdco20180608c62 Visitors: 8
Filed: Jun. 07, 2018
Latest Update: Jun. 07, 2018
Summary: AGREED MOTION FOR ENTRY OF CONSENT JUDGMENT REBECCA R. PALLMEYER , District Judge . Frederick J. Grede, not individually, but as Liquidation Trustee of the Sentinel Liquidation Trust (" Trustee "), hereby moves this Court for the entry of a consent judgment (the " Consent Judgment ") against defendant Dynamic Allocation CTA Fund LLC (" Defendant "), and states: 1. This Court has jurisdiction over this matter pursuant to 28 U.S.C. 1334. Venue is proper pursuant to 28 U.S.C. 1409. 2. O
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AGREED MOTION FOR ENTRY OF CONSENT JUDGMENT

Frederick J. Grede, not individually, but as Liquidation Trustee of the Sentinel Liquidation Trust ("Trustee"), hereby moves this Court for the entry of a consent judgment (the "Consent Judgment") against defendant Dynamic Allocation CTA Fund LLC ("Defendant"), and states:

1. This Court has jurisdiction over this matter pursuant to 28 U.S.C. § 1334. Venue is proper pursuant to 28 U.S.C. § 1409.

2. On August 17, 2007, Sentinel Management Group, Inc. commenced a voluntary chapter 11 case in the U.S. Bankruptcy Court for the Northern District of Illinois, bankruptcy case number 07-14987.

3. On December 15, 2008, the Bankruptcy Court confirmed the Debtor's Fourth Amended Chapter 11 Plan of Liquidation, pursuant to which the Trust was established, and the Trustee was appointed as the liquidation trustee of the Trust and the representative of the Debtor's estate.

4. On June 24, 2009, the Trustee commenced an adversary proceeding against the Defendant in the Bankruptcy Court, the reference of which was subsequently withdrawn by this Court, where it was assigned Case No. 10-cv-01630 (the "Adversary Proceeding").

5. The Trustee's complaint in the Adversary Proceeding seeks inter alia to recover certain transfers made by Sentinel to the Defendant that the Trustee alleges are avoidable under the Bankruptcy Code. Defendant disputes these claims.

6. The Parties have entered into a Settlement Agreement, pursuant to which they have agreed to resolve the Adversary Proceeding by the entry of a final judgment against Defendant in the amount of $2,735,691.47, plus post-judgment interest, in the same or substantially the same form as the proposed Consent Judgment attached hereto as Exhibit A.

WHEREFORE, the Trustee respectfully requests that the Court enter the proposed Consent Judgment attached hereto as Exhibit A.

EXHIBIT A

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION FREDERICK J. GREDE, not individually but as Liquidation Trustee of the Sentinel Liquidation Trust, Case No. 10-CV-01630 Plaintiff, Honorable Rebecca R. Pallmeyer v. DYNAMIC ALLOCATION CTA FUND LLC, Defendant.

CONSENT JUDGMENT

THIS MATTER COMING TO BE HEARD upon Plaintiff's motion for entry of judgment; the Defendant having consented to the entry of this Judgment; due and proper notice having been given; and the Court having jurisdiction and being fully advised in the premises;

IT IS HEREBY ORDERED THAT judgment shall be, and hereby is, ENTERED in favor of the plaintiff Sentinel Liquidation Trust, and against defendant Dynamic Allocation CTA Fund LLC, in the amount of $2,735,691.47, plus post-judgment interest accruing at the rate established under 28 U.S.C. § 1961.

ENTERED: ______________________________________ United States District Court Judge

AGREED:

FREDERICK J. GREDE, Liquidation Trustee DYNAMIC ALLOCATION CTA FUND LLC of the Sentinel Liquidation Trust By: /s/ Vincent E. Lazar By: /s/ Andrew J. Lawrence ________________________________________ _________________________________ Catherine L. Steege (ARDC # 6183529) Arnold Gary Kaplan Vincent E. Lazar (ARDC # 6204916) Kaplan & Associates, Ltd. Angela M. Allen (ARDC #6295519) 20 North Clark Street JENNER & BLOCK LLP Suite 1725 353 N. Clark Street Chicago, IL 60602 Chicago, IL 60654 (312)443-1667 Phone: (312) 222-9350 Email: akaplan@atty-kaplan.com Facsimile: (312) 527-0484 Edward X. Clinton, Jr. Counsel for the Liquidation Trustee Law Offices of Edward X. Clinton, P.C. 111 W. Washington St. Ste. 1437 Chicago, IL 60602 (312) 357-1515 Email: edwardclinton@icloud.com Andrew Jon Lawrence The Lawrence Law Group PLLC 5335 Wisconsin Ave., NW Suite 700 Washington, DC 20015 (202) 904-2822 Email: ajl@lawrencelg.com Counsel for Dynamic Allocation CTA Fund LLC
Source:  Leagle

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