$600K Settlement Proposed in Vucurevich Bankruptcy
SIOUX FALLS, S.D. (AP) — The court-ordered trustee who is overseeing the largest personal bankruptcy in South Dakota history has settled allegations that friends and family helped debtor Kent Vucurevich hide assets from creditors seeking as much as $70 million.
Lawyer Lee Ann Pierce has asked the court to approve a settlement of $600,000 for the Sioux Falls businessman who is the son of Rapid City banker and philanthropist John Vucurevich.
Any of 45 creditors can object to the settlement before Aug. 1. The agreement disallows them from making claims. However, University of South Dakota law professor Jon VanPatten says Kent Vucurevich still could be ordered to pay creditors if he acquires any future assets.
Copyright 2013 The Associated Press.