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IN RE BENNETT FUNDING GROUP, INC. SEC. LITIGATION

Nos. MDL 1153 JES, 01 CIV 1246 JES.

270 B.R. 126 (2001)

In re BENNETT FUNDING GROUP, INC. SECURITIES LITIGATION. Richard C. Breeden, Trustee of the Bennett Funding Group, Inc., et al., Plaintiffs, v. Sphere Drake Insurance, PLC, et al., Defendants.

United States District Court, S.D. New York.

December 3, 2001.

Attorney(s) appearing for the Case

Simpson, Thacher & Bartlett, New York City, Conrad K. Harper, John D. Roesser, Of Counsel, for Plaintiffs.

Paul Weiss, Rifkind, Wharton & Garrison, New York City, Steven B. Rosenfeld, Thomas M. Keane, Pari E. Berk, Of Counsel, for Sphere Drake.

Costigan & Company, P.C., New York City, William F. Costigan, Christopher C. Loeber, Stephanie D. Drawdy, Of Counsel, for Ades Defendants.

MEMORANDUM OPINION AND ORDER

SPRIZZO, District Judge.

Richard C. Breeden, trustee in bankruptcy ("the trustee" or "plaintiff") for the Bennett Funding Group, Inc. and its related companies (collectively "BFG"), brings the above-captioned action against reinsurer Sphere Drake Insurance, PLC ("Sphere Drake") and others, including certain "John Doe" defendants known as the "Ades defendants" consisting of individual investors claiming rights to the proceeds...

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