The top two Sentinel Management Group executives will appear in court on June 9 to settle their lawsuit with the case’s trustee.
Sentinel’s founder and chairman, Phillip Bloom, and his son who served as CEO, Eric Bloom, are expected to agree to pay a $10.7m settlement to various customers of the now bankrupt firm. On June 10, a distribution plan is expected to be mapped out in court.
The case will adopt a two-step process, which first involves a disclosure statement that describes the Sentinel saga and then follows up with a distribution plan that details how funds will be parsed out to various parties.
Fred Grede, who has been...