Representation: Creditors’ Committee and Trustee
Bankruptcy – Western District of Pennsylvania
Situation: Yobe Electric, Inc., was an electrical contracting business in western Pennsylvania and eastern Ohio. When creditors lost faith in the company’s ability to reorganize, they asked the court to appoint Robert S. Bernstein trustee to operate the business.
Action: The creditors and trustee determined Yobe Electric, Inc. should be liquidated, and Bernstein proceeded to liquidate almost $4 million worth of equipment, inventory and real estate. The secured creditors were paid in full from the proceeds, and the trustee’s final account distributed approximately $100,000.00 more to administrative creditors.