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Oaktree Accused of Shuttering Fund to Evade $50 Million GM Clawback Suit

April 15, 2016 : Permanent Link

(Reuters) Remember the story of the Mayer Brown paralegal mistake that could cost GM lenders $1.5 billion? Now there’s a new development in the clawback litigation spurred by that fatal error. Creditors of the pre-bankruptcy GM are alleging that an Oaktree fund found a brazen way to sidestep their demand for the return of their money: The fund shut itself down before a court could decide whether it must pay back about $50 million.

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