Our staff has considerable experience in prosecuting and administering
major litigation (and not exclusively bankruptcy experience, since claims
against third parties may involve fraud, breach of trust, fraudulent
conveyances or intellectual property issues) because litigation trustees
are often called upon to bring actions in both state and federal courts
and to manage numerous cases on behalf of the committee.
Working as the litigation trustee
in a corporate manufacturer in chapter 11, Claybrook & Associates
was engaged through agreement with the creditors committee and the
secured lender to pursue various
claims, through litigation or settlement, against third parties on
behalf of the trust and its beneficiaries, and to distribute, pursuant
to the plan, any net proceeds of such litigation or settlement. Our
efforts resulted recoveries in excess of $800,000 as part of our coordinated
efforts to pursue the collection of avoidance actions.
Working as the litigation trustee,
Claybrook & Associates
was engaged through agreement with the creditors committee and the
secured lender group to pursue several complaints litigation against
defendants on behalf of a technology corporation in chapter 11. Our
effort resulted in the safeguarding of the trust’s assets until
the Court’s conversion of the case to chapter 7 matter.
