Legal Opinion
Lerner Master Fund, LLC v. Paige (In re Paige)
United States Bankruptcy Court, W.D. Pennsylvania
Decided August 1, 2012No. Bankruptcy No. 5-11-bk-05957-JJT; Adversary No. 5-12-ap-00067-JJTPublishedCited by 3 opinions
1Opinion of the Court
OPINION1
JOHN J. THOMAS, Bankruptcy Judge.
Michele and Christopher Paige filed Chapter 7 bankruptcy on August 29, 2011. Prior to the bankruptcy, under legal counsel of Christopher, Michelle Paige2 managed a young hedge fund that Lerner Master Fund, LLC (hereinafter “LMF”)3, as the fund’s sole investor, entrusted 40 million dollars. The contractual relationship between Michelle Paige and LMF was defined by two distinct documents. One contract, the seeder agreement4, seemingly permitted immediate withdrawals of capital at the end of a three-year lockup period, while a general contract ostensibly…
2Cases cited18 opinions
- Tiernan v. DevoeCourt of Appeals for the Third Circuit · 1991
- Louis Fennell v. Tlb Kent Company and Joseph PietrykaCourt of Appeals for the Second Circuit · 1989
- Keithley Edwards v. Born, Inc. Appeal of Keithley Edwards and Edith EdwardsCourt of Appeals for the Third Circuit · 1986
- Thomas v. Colorado Trust Deed Funds, Inc.Court of Appeals for the Tenth Circuit · 1966
- Archbishop v. KARLAKSupreme Court of Pennsylvania · 1973
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3Cited by3 opinions
- 421 Chestnut Partners, LP v. Aloia (In re Aloia)United States Bankruptcy Court, E.D. Pennsylvania · 2013
- In Re: Zuriel MelamedDistrict Court, S.D. New York · 2022
- In re: Lusine HakhverdianUnited States Bankruptcy Court, C.D. California · 2026