Litigation and Liquidation Trustees

Chapter 11 bankruptcy cases involve immediate crises, such as lack of liquidity or an immediate of a judgment or default on obligations. It is only after confirmation that some of the more mundane but essential tasks occur. These include the sale of remaining assets, review and objections to proofs of claims, and litigation of estate causes of action, all of which are necessary to maximize the value of the estate for the benefit of the trust. Morris James frequently represents litigation trusts and liquidation trusts with respect to such tasks, all of which are essential to distributions.  

Further, trustees have fiduciary obligations to beneficiaries of postconfirmation trust. With such obligations comes potential liability under applicable non-bankruptcy law, including contractual obligations under the trust agreement, compliance with court orders, and other legal and practical risks. Our attorneys are well-versed in advising liquidation trustees, and helping them to navigate their sometimes competing obligations. Where disputes arise, our attorneys are accomplished negotiators and litigators, ready to represent the liquidation trustee both in court and out of court.

Representative Matters

• Advantage | Co-Counsel
• Alpha Entertainment (XFL) | Special counsel
• AmCad Holdings, LLC | Lead counsel
• Bluestem Brands | Lead counsel
• Global Brands Group (SDNY) | Lead counsel
• Juno USA, LP | Lead counsel
• Le Pain Quotidien | Lead counsel
• Maines Paper & Food Services, Inc. | Co-counsel
• Melinta Therapeutics, Inc. | Co-counsel
• Patriot National, Inc. | Co-counsel
• Shiloh Creditors Trust | Co-counsel
• SportCo Holdings, Inc. | Co-counsel
• Synergy Pharmaceuticals Inc. (SDNY) | Lead counsel
• Valeritas Holdings, Inc. | Co-counsel
• Vertellus Specialties, Inc. | Co-counsel

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