Daily Archives: Friday, October 8, 2021

Posted: October 8, 2021

Settlement Agreement Providing that Trustees to Distribute Shares as if “Subsequent Recovery” Ignored as “Gap Filler”

On August 19, 2021, in Matter of Wells Fargo Bank v Aegon USA Inv. Mgt., LLC, 2021 NY Slip Op 04740, the First Department issued a decision holding, inter alia, that even though the settlement agreement set forth the means for calculating and distributing the allocable share to each of the settlement trusts, the trustees... Read more »