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Article: Business in Brief
- Article from:
- Chicago Sun-Times
- Article date:
- August 4, 2009
CopyrightCopyright (c) 2009 Chicago Sun-Times, Inc. (Hide copyright information)
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FUTURES TRADERS TRY TO FORCE ALARON INTO CHAPTER 7 BANKRUPTCY
Three futures traders who claim Alaron Trading Corp. owes them more than $5 million are trying to push the futures brokerage into bankruptcy. Alan Freeman of Chicago, Bruce Freeman of Scottsdale, Ariz., and Barry Hirsch of Northbrook filed an involuntary Chapter 7 bankruptcy petition against Alaron. The traders said the money was loans to finance Alaron operations. Alaron senior corporate counsel Sara Lund said the bankruptcy petition and a related lawsuit have no merit. She said the traders' money is in accounts that provide financial guarantees for futures ...