March 2015

Opus Group Claims Victory in Bankruptcy Fraud Case

North America - United States | North America | United States - Delaware

On March 23, FaegreBD received a complete victory ruling from Judge Mary Walrath in the U.S. Bankruptcy Court for the District of Delaware. A cross-group trial team had defended Opus Group, two Rauenhorst family trusts and their trustees, and certain officers and directors of Opus East against fraud and fiduciary duty claims of more than $130 million brought by the Chapter 7 bankruptcy trustee of Opus East.

After a 10-day trial in December 2013 and February 2014, Judge Walrath refused to pierce the corporate veil, finding there was no fraud or injustice, and refused to impose successor liability on Opus Holding and other members of the Opus Group, finding there were no fraudulent transfers. The Judge also determined that the officers and directors did not breach their fiduciary duties.

The Faegre Baker Daniels website uses cookies to make your browsing experience as useful as possible. In order to have the full site experience, keep cookies enabled on your web browser. By browsing our site with cookies enabled, you are agreeing to their use. Review Faegre Baker Daniels' cookies information for more details.