Judge Hears Testimony in Case of Missing Zeros
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NEW YORK — U.S. Bankruptcy Judge Howard C. Buschman III heard testimony Monday in a court battle over three missing zeros on a financial document that could cost Prudential Insurance Co. of America millions of dollars.
Prudential is trying to establish that a mortgage lien it holds is for $92,885,000, even though a document records its value as only $92,885 because of a clerical error.
The lien is on eight ships once owned by United States Lines, a shipping company whose assets are being sold off to satisfy creditors under bankruptcy court supervision.
The hearing before Buschman lasted past the normal close of business hours Monday and lawyers for the various parties could not be reached by telephone for comment.
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