RCT Secures $110 Million Judgment on Appeal over AJW Notes
On behalf of the Joint Official Liquidators of the AJW Funds, New York’s Appellate Division, Second Department, ruled that the Liquidators can collect more than $110 million owed under promissory notes and personal guaranties. Former management of the AJW Funds sold convertible debentures to Bronson’s companies in return for the notes, which were never repaid. The appellate court reversed the trial court’s finding that there were factual issues concerning the amount of damages owed.
Prior results do not guarantee a similar outcome.