Trustee Representations –Forshey Prostok has represented many of the Trustees in the Northern District of Texas, as well as serving as counsel for Trustees throughout the country. Like any other client, our firm recognizes the unique challenges and responsibilities that face a Trustee acting on behalf of a bankruptcy estate. Our firm’s commitment to enhancing the estate is reflected by our previous successes.
ForsheyProstok represented Robin Phelan, the appointed Chapter 11 Trustee for the Estates of Acis Capital Managment, L.P. and Acis Capital Management GP, LLC (collectively Acis), a Dallas-based Securities and Exchange Commission (SEC)-registered investment advisor and collateralized loan obligation (CLO) manager with approximately $2 billion in assets under management. The United States Bankruptcy Court in Dallas confirmed a Chapter 11 restructuring plan which became effective on February 15, 2019. In what the United States Bankruptcy Judge Stacey Jernigan referred to as an 'astonishingly contentious' bankruptcy case, Acis' reorganization plan proposes to pay creditors in full.
The firm represented TUSA in their Chapter 11 reorganization. TUSA is the largest commercial seller and distributor of furniture in the metroplex.
Forshey Prostok represented Michael G. Lawrence, Liquidating Trustee of the trust holding the assets of INSpire Insurance Solutions, Inc. and INSpire Claims Management, Inc., in connection with the claims resolution process and the wind-down of the trust. Through the claims objection process, including against the claims of IBM, Tokio Marine Management and Connecticut General Insurance Company, Forshey and Prostok reduced overall claims filed in the bankruptcy case of more than $30 million to allowed claims against the trust of $2. million. Forshey Prostok also handled a complex international litigation matter for the Liquidating Trustee against Sul America Companhia National Seguros, a large Brazilian insurance company, resulting in a favorable settlement of Sul America’s $5.2 million claim against the trust. Forshey Prostok also handled the wind-up and termination of the debtors’ 401(k). Prior to its bankruptcy case, INSpire Insurance Solutions offered complete insurance policy and claims administration outsourcing, IT outsourcing, and software services, and was traded on the New York Stock Exchange under the symbol “NPSR.” After representing the unsecured creditors committee, members of the firm represented the liquidating trustee for the debtor’s estate.
After representing the Unsecured Creditors Committee, the firm represented the liquidating trustee for the debtor’s estate.
Members of the firm represented the trustee in this chapter 7 liquidation of the largest leather furniture manufacturing company in the U.S.
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