Grede v. Dynamic Allocation CTA Fund LLC

Filing 41

MOTION by Plaintiff Frederick J Grede for judgment /Agreed Motion for Entry of Consent Judgment (Attachments: # 1 Exhibit A)(Lazar, Vincent)

IN THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
FREDERICK J. GREDE, as Liquidation
Trustee for the Sentinel Liquidation Trust,
Plaintiff,
v.
DYNAMIC ALLOCATION CTA FUND
LLC,

)
)
)
)
)
)
)
)
)

Case No. 10-cv-01630

Honorable Rebecca R. Pallmeyer

Defendant.
AGREED MOTION FOR ENTRY OF CONSENT JUDGMENT
Frederick J. Grede, not individually, but as Liquidation Trustee of the Sentinel Liquidation
Trust (“Trustee”), hereby moves this Court for the entry of a consent judgment (the “Consent
Judgment”) against defendant Dynamic Allocation CTA Fund LLC (“Defendant”), and states:
1.

This Court has jurisdiction over this matter pursuant to 28 U.S.C. § 1334. Venue is

proper pursuant to 28 U.S.C. § 1409.
2.

On August 17, 2007, Sentinel Management Group, Inc. commenced a voluntary

chapter 11 case in the U.S. Bankruptcy Court for the Northern District of Illinois, bankruptcy case
number 07-14987.
3.

On December 15, 2008, the Bankruptcy Court confirmed the Debtor’s Fourth

Amended Chapter 11 Plan of Liquidation, pursuant to which the Trust was established, and the
Trustee was appointed as the liquidation trustee of the Trust and the representative of the Debtor’s
estate.
4.

On June 24, 2009, the Trustee commenced an adversary proceeding against the

Defendant in the Bankruptcy Court, the reference of which was subsequently withdrawn by this
Court, where it was assigned Case No. 10-cv-01630 (the “Adversary Proceeding”).

5.

The Trustee’s complaint in the Adversary Proceeding seeks inter alia to recover

certain transfers made by Sentinel to the Defendant that the Trustee alleges are avoidable under
the Bankruptcy Code. Defendant disputes these claims.
6.

The Parties have entered into a Settlement Agreement, pursuant to which they have

agreed to resolve the Adversary Proceeding by the entry of a final judgment against Defendant in
the amount of $2,735,691.47, plus post-judgment interest, in the same or substantially the same
form as the proposed Consent Judgment attached hereto as Exhibit A.
WHEREFORE, the Trustee respectfully requests that the Court enter the proposed Consent
Judgment attached hereto as Exhibit A.
Respectfully submitted,
Dated: June 7, 2018

FREDERICK J. GREDE, not individually but
as Sentinel Liquidation Trustee,
By: /s/ Vincent E. Lazar
One of his attorneys
Catherine Steege (ARDC # 6183529)
Vincent E. Lazar (ARDC # 6204916)
Angela M. Allen (ARDC #6295519)
JENNER & BLOCK LLP
353 N. Clark Street
Chicago, IL 60654
Phone: [phone]

2