Selected Trustee and Fiduciary Matters

The following is a selection of work in Chapter 7 and Chapter 11 proceedings that the firm has handled / continues to handle, where the United States Department of Justice appointed members of the firm as bankruptcy trustees, the firm serves or served as counsel to a trustee or as a state court fiduciary or counsel for a state court fiduciary:

  • Entertainment Publications LLC – Restarted the terminated operations of a $95 million per year coupon book business.  Transferred the operations as a going concern and saved 270 jobs in the process.
  • Omne Staffing – Pursued the wrongdoers in a case involving a $300 million employee leasing company engaged in fraudulent workers compensation practices on a national level and assisted the United States Attorney’s Office in Florida with their prosecution
  • NJ Affordable Homes Corp. – Liquidated more than 300 parcels of real estate following contentious litigation over the estate’s interest in the properties at issue in a $80 million real estate Ponzi scheme
  • The Russ Companies, Inc. – Liquidated a famous international designer and distributor of gift items (“Trolls“), with subsidiaries in Asia, Australia, Europe and Canada and satisfied more than $13.5 million in secured debt.
  • Ameripay, LLC – Liquidation of a regional payroll company at the center of securities fraud investigation
  • Spanish Peaks Holdings II, LLC – Trustee for a 5,700-acre golf resort and planned residential community in Big Sky, Montana
  • Alabama Aircraft Industries, Inc. – Liquidation of a leading provider of aircraft maintenance and modification services for the United States Government
  • Stirling Energy Systems, Inc. – The liquidation of a foreign owned solar power equipment manufacturer
  • AES Thames – Liquidation of a major coal fired power plant in Connecticut
  • Halpert and Company – Liquidated a securities broker-dealer involved in the Bennett Funding Ponzi scheme and satisfied 100% of allowed claims
  • Howard Handler – Unraveled a $20 million Ponzi scheme involving the sale of non-existent medical equipment
  • Christian Bernard – Liquidated major national retail jewelry chain with 16 locations across the country
  • U.S. Mortgage – Represented examiner and liquidating trustee in massive mortgage fraud scheme
  • Linens ’n Things – Supervised the liquidation of a variety of claims including tax refunds from Canadian and United States taxing authorities and prosecuting hundreds of avoidance claims for the bankruptcy estate of the second largest home furnishings chain in North America
  • Arts des Provinces de France, Inc. – Representation of the trustee of a national retail furniture and specialty chain
  • Meridian Benefit, Inc. – Liquidated claims with employee benefit program with national implications
  • United States Workers of America Local 16 National Health Fund – Liquidated claims with employee health-care programs with widespread national significance
  • NorVergence, Inc. –  Liquidated highly publicized telecommunications venture whose failure resulted in the loss of service for businesses throughout the United States.  This matter also required the trustee’s cooperation with federal and state agencies in an investigation of fraud allegations concerning the debtor’s marketing schemes
  • Penco of Lyndhurst– Liquidated a 17-acre environmentally contaminated chemical plant, including oversight of the appropriate disposal of tons of chemicals and rehabilitation of the property for use as a new shopping mall and as a regional transportation hub
  • Upsala College – Liquidated a four year liberal arts college, including its major urban and rural campuses and academic related assets
  • Spiniello Construction Company – Orchestrated the successful reorganization of a national $40 million a year construction company
  • TSR Wireless – Operated a nationally based telecommunication business with 2.5 million customers and successfully transferred the debtor’s operations to a new operating company, thereby saving jobs, continuing service and generating a dividend to creditors.

Our Managing Member, Charles M. Forman, received the Directors Award for Outstanding Achievements by the Executive Director of the Office of the United States Trustee for his role as trustee in the TSR Wireless matter.  This is the only time that a panel trustee has received such an award from the Department of Justice.

Forman Holt Named to "Best Law Firms" 2024

Forman Holt has been named to the prestigious 2024 Tier 1 Best Lawyers® Best Law Firms list for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law in New Jersey.

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Trustee Charles Forman Makes Additional Distributions to Asbestos Claimants in NSI Case

Pursuant to an order of the US Bankruptcy Court for the District of Delaware, Charles M. Forman, the Chapter 7 Trustee for NSI, Inc., has issued an additional distribution of $8 million to claimants.

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Trustee Charles Forman Makes Additional Distributions to Asbestos Claimants in NSI Case Trustee Charles Forman Makes Additional Distributions to Asbestos Claimants in NSI Case

Three Forman Holt Members Recognized as Best Lawyers® Award Recipients

Forman Holt is pleased to announce that all three members of the firm have been included in the 2024 edition of The Best Lawyers in America ®, regarded as the definitive guide to legal excellence.

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Three Forman Holt Members Recognized as Best Lawyers® Award Recipients Three Forman Holt Members Recognized as Best Lawyers® Award Recipients

Charles M. Forman Recognized by Prestigious Chambers and Partners

The Forman Holt firm congratulates Charles M. Forman for his 2023 inclusion in Chambers and Partners, his ninth consecutive year receiving this honor, ranked in “Band 2” of the Bankruptcy/Restructuring category.

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All Forman Holt Members Recognized by Super Lawyers in 2023

All of the firm’s members have been named again in 2023 to the Super Lawyers list, an honor reserved for only 5% of lawyers in each state. Charles Forman, Managing Member, has been selected to the Top 100 List in 2022 and 2023.

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All Forman Holt Members Recognized by Super Lawyers in 2023 All Forman Holt Members Recognized by Super Lawyers in 2023

Forman Holt Members Confirm Ammon Labs Chapter 11 Plan

Erin Kennedy and Michael Holt confirmed the Chapter 11 Plan of Reorganization for Ammon Analytical Laboratories LLC in the US Bankruptcy Court for the District of New Jersey on March 28, 2023.

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Forman Holt Members Confirm Ammon Labs Chapter 11 Plan Forman Holt Members Confirm Ammon Labs Chapter 11 Plan

NJBLF Receives the William J. Brennan, Jr. Citation for Justice

The NJ Bankruptcy Lawyers Foundation, led by the Foundation’s President Charles M. Forman, received the award from Legal Services of NJ for providing emergency funds that support LSNJ’s clients through challenging times.

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NJBLF Receives the William J. Brennan, Jr. Citation for Justice NJBLF Receives the William J. Brennan, Jr. Citation for Justice

Charles M. Forman Appointed to NJIT Board of Overseers

The New Jersey Institute of Technology has appointed Forman Holt attorney Charles M. Forman, an alumnus of the University, to the distinguished position on its Board of Overseers.

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Charles M. Forman Appointed to NJIT Board of Overseers Charles M. Forman Appointed to NJIT Board of Overseers

Charles M. Forman Receives Lifetime Achievement Award

The NJ Law Journal named Charles Forman as recipient of their 2016 Lifetime Achievement Award. The committee considers which individuals helped to shape the law in NJ, through their work on the bench, in-house or building a firm.

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Charles M. Forman Receives Lifetime Achievement Award Charles M. Forman Receives Lifetime Achievement Award