• Called on to participate in major bankruptcy proceedings - as trustees, as attorneys for trustees and as attorneys for creditors' committees.

• An excellent track record in the representation of creditors and trustees.

• Collective professional expertise in handling all types of litigation matters before the Bankruptcy Courts.

The representation of trustees, creditors' committees and fiduciaries is the firm's largest practice area. For more than 25 years members of the firm have participated in well over 10,000 chapter 11 and chapter 7 proceedings as trustees, as attorneys for trustees and as attorneys for creditor's committees. The firm has as much experience in this area as any other insolvency and bankruptcy firm in this state.

We frequently have been called on to participate in major cases involving alleged violations of ERISA, SEC rules and the Internal Revenue Code, as well as massive Ponzi schemes and matters involving large-scale fraudulent activity. Often these cases have a significant impact on the public.

The chapter 11 case of Halpert and Company involved a New Jersey securities broker, that had been the largest dealer of securities of Bennet Funding. Bennett Funding eventually became a multi-billion dollar chapter 11 proceeding. As a result of our efforts working on behalf of the chapter 11 estate of Halpert and Company, its creditors will receive a 100% percent dividend.

In the Howard Handler case, Mr. Handler orchestrated a Ponzi scheme involving a "pyramid" of transactions of approximately $20 million. Through our efforts creditors will receive a dividend in excess of 20%.

In the case of Omne Staffing, a $300 million-per-year nationwide employee leasing operation, we are prosecuting claims against insiders and other parties that engaged in fraudulent workers compensation insurance practices. In that case, we are cooperating with the United States Attorney in Florida.

We have significant experience with major real estate cases and with the challenging issues involving sub prime lenders. Since late 2005, we've been administering nearly 400 residential and commercial properties, having a value of more than $60 million in the NJ Affordable Homes case. One half of the claims totaling $100 million are being asserted by sub prime lenders and the balance by individual lenders. We have challenged most of the secured claims and have resolved most of our issues with a substantial portion of them.

We also have served as trustees and attorneys for trustees in the proceedings of Meridian Benefit, Inc. and the United States Workers of America Local 16 National Health Fund. Both of these cases involve employee benefit and health-care programs with national implications.

We have an excellent track record in the representation of the interests of creditors and trustees in telecommunications and other hi-tech fields. For example, our senior member is the chapter 7 trustee for TSR Wireless LLC, the largest privately held wireless communications company at the time of its filing. TSR served 2.5 million customers including major hospitals, nuclear plants and state and local police and emergency personnel. In that case, we successfully kept alive the debtor's failing telecommunications operation through our aggressive efforts and transferred the debtor's operations as a going concern, thereby generating a dividend to creditors.

As a result of his efforts, Mr. Forman was awarded the Director's Award for Outstanding Achievements by the Executive Director of the Office of the United States Trustee. This is the only time that a panel trustee has received such an award from the Department of Justice.

More recently, Mr. Forman was appointed in the case of NorVergence, Inc., a highly publicized telecommunications venture whose failure resulted in the loss of service for businesses throughout the country. We are investigating serious allegations of fraud in connection with its marketing schemes and are cooperating with numerous federal and state agencies which have expressed an interest in this proceeding.

We have had significant success in real estate cases including the successful remediation and liquidation of "brown field" cases. In the case of Penco of Lyndhurst, we oversaw the liquidation and disposition of a 17-acre chemical plant while overseeing the appropriate disposal of literally hundreds of tons of chemicals and waste products. In the case of Upsala College, formerly a four-year liberal arts college, we successfully orchestrated a complex transaction involving government financing for the debtor's 20-acre urban facility.

In the case of Spiniello Construction, we took over control of the day-to-day operations of a construction company that billed $40 million annually in publicly bonded work in 30 states. The debtor's operations had been jeopardized by a family dispute. In the span of a mere 40 days, we orchestrated a reorganization scheme that resulted in payments of roughly 95% of all claims asserted against the Spiniello estate and allowed for the continued operation of the company.

A review of the court docket for the Bankruptcy Court for the District of New Jersey reveals our participation in a wide variety of bankruptcy litigation matters. We have developed expertise in the areas of fraudulent and preferential transfers and other avoidance actions under the Bankruptcy Code. At any given point, our firm is handling literally hundreds of lawsuits and adversary proceedings in the Bankruptcy Court. We have developed an excellent reputation in the handling of such matters with fellow members of the bar, the courts and the Office of the United States Trustee. In view of our collective expertise, we are capable of handling virtually any type of litigation matter before the Bankruptcy Courts.

Our expertise in connection with the representation of creditors' committees and trustees has allowed us to branch off into other areas of practice, such as the representation of state court receivers and assignees for the benefit of creditors. We frequently have been called upon to terminate and liquidate pension and other employee benefit programs, which were being operated by insolvent entities. Recently, one of our members was selected to act as a trustee for a $65 million fund devoted to asbestos claimants.

Please contact us:fiduciary@formanlaw.com