News
October 17, 2007

Jenner & Block represents Trustee Frederick J. Grede in the Chapter 11 proceedings of Sentinel Management Group, Inc.  Mr. Grede was appointed as the Trustee of the company on August 28 by the U.S. Bankruptcy Court for the Northern District of Illinois.

Sentinel Management Group, a Northbrook, Illinois-based cash management firm, filed for bankruptcy protection on August 17, 2007, after freezing customer redemptions earlier that week.  Sentinel’s records reveal that it has more than $1 billion in liabilities, and a significant shortfall in liquid assets available to pay those liabilities.  On October 12, Jenner & Block filed suit on behalf of Mr. Grede against the company’s insiders and affiliates, accusing them of a ‘‘long-term, massive fraud’’ and seeking $350 million plus punitive damages.

The Jenner & Block team on this matter is led by Partners Vincent E. Lazar, Catherine L. Steege and Chris C. Gair, and includes Partners J. Kevin McCall, John F. Kinney, and Daniel R. Murray.