Assignees & Receivers

In addition to a prolific practice serving as and representing Trustees in bankruptcy cases, Forman Holt is also well versed in all manners of fiduciary practice in other courts and proceedings. 

The Firm has extensive experience in proceedings involving Assignments for the Benefit of Creditors (“ABC”), a state court alternative to formal bankruptcy proceedings.  Members of the Firm have been routinely appointed as Assignees, who, by statute, take ownership of an entity’s assets and liquidate same for the benefit of all of that entity’s creditors.  In addition to having members serve as the actual Assignee, the Firm often serves as counsel to the Assignee, assisting him or her in the fulfillment of their statutory charge, both where the Assignee is a member of the Firm and where the Assignee is a third party.

In addition to state law ABC proceedings, the Firm is also proficient in the representation of Receivers, both in the federal and the state courts.  Whether the Receivership involves the management of real property, or the stewardship of an operating entity, the concepts and the skill sets are essentially the same as they are in bankruptcy trustee cases and ABC proceedings: caretaking and resolution.

Forman Holt members strive hard for the conscientious preservation and pursuit of assets; the deliberate care in protecting the interests of others involved, no matter how divergent those interests might be; the zealous pursuit of claims and assets in the maximization of value; and the responsible resolution of the matter, bringing closure and finality to the parties as promptly and efficiently as possible.

  • Well respected and regarded in all areas of trustee and fiduciary representation
  • Called on to participate in major bankruptcy proceedings both as trustees and as attorneys for trustees in New Jersey and Delaware bankruptcy courts
  • Requested to serve as both assignees and receivers and as attorneys for assignees and receivers in court supervised liquidation proceedings
  • Requested to serve as liquidating trustees and attorneys for liquidating trustees under confirmed Chapter 11 plans of reorganization
  • Significant collective professional expertise in handling all types of litigation matters before the bankruptcy courts and in representing assignees and receivers in state and federal court liquidation proceedings

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