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Fraudulent Transfer Lawsuit Case Strategies: Official Committee of Unsecured Creditors of Norstan Apparel Shops, Inc. v. Norman Lattman, Stanley Lattman et al.
by:Ronald R. Sussman, Jeffrey L. Cohen
Written by experienced bankruptcy litigators, Fraudulent Transfer Lawsuit Case Strategies provides an inside look into the war room of committee counsel in their pursuit of $70 million on behalf of the debtor's estate against selling shareholders in a failed LBO. Offering in-depth explanations of concepts unique to bankruptcy law, practical advice on...
Written by experienced bankruptcy litigators, Fraudulent Transfer Lawsuit Case Strategies provides an inside look into the war room of committee counsel in their pursuit of $70 million on behalf of the debtor's estate against selling shareholders in a failed LBO. Offering in-depth explanations of concepts unique to bankruptcy law, practical advice on methodologies and procedural strategy, and suggestion of best practices, this book provides invaluable insight into the rigors of recovering funds received by outgoing shareholders in a failed LBO for the benefit of unsecured creditors in a liquidating Chapter 11 case. This book also provides readers with crucial information regarding the pitfalls faced by unsecured creditors committees in Chapter 11 cases which lack adequate funding to pursue avoidance actions and highlights one committee's experience in overcoming this significant obstacle. Furthermore, by shadowing the maneuvers of the Norstan committee in its pursuit of recovering almost $70 million taken from the company by outgoing shareholders in a failed LBO, this book provides a road map for future committees and putative defendants to avoid the pitfalls they might experience in similar litigation.
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