Bankruptcy Actions

Bankruptcy is a specialized and complex area of the law. Spangenberg, Shibley & Liber’s litigation and trial advocacy skills have been especially productive in the bankruptcy context. Recently, SS&L Lawyers Dennis Lansdowne and Nick DiCello negotiated a settlement with a value greater than $4 million to the bankrupt estate where a commercial lender misrepresented the creditworthiness of the borrower prior to borrower’s filing for bankruptcy.

The bankrupt borrower’s vendors relied upon the erroneous information to their detriment, and as a result, sold a significant amount of goods on credit, for which they were never paid, while the commercial lender recovered all outstanding amounts on its revolving collateral base loan. SS&L represented the interests of the Committee of Unsecured Creditors and the bankrupt estate in an adversary proceeding initiated against the commercial lender and certain directors and officers.

The settlements of the claims associated therewith operated to infuse the bankrupt estate with additional funds and to unencumber other funds in the estate, all of which then became available for distribution to the unsecured creditors, including the vendors which relied upon the misinformation disseminated by the commercial lender.

Business Bankruptcy Attorneys

Spangenberg, Shibley & Liber is routinely retained to litigate matters on behalf of debtors and unsecured creditors in Chapter 7 and Chapter 11 corporate bankruptcies. Specifically, SS&L bankruptcy lawyers have been retained as Special Litigation Co-Counsel to pursue claims against corporate lenders and other secured creditors for the purpose of returning funds to the bankrupt estate for distribution to unsecured creditors.

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Successful Bankruptcy Lawsuits

SS&L Lawyers have successfully litigated claims against these lenders and secured creditors, as well as corporate officers, whose misconduct results in an unfair distribution of funds amongst creditors of the bankrupt entity.

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