The goal of our bankruptcy and restructuring team at Bernstein-Burkley is to provide guidance and peace of mind to trustees and plan administrators as they manage their bankruptcy estates. Our expertise ensures that we advise our clients of the best course of action to maximize the estate’s recovery, while preventing any recourse that the debtor or other creditors may claim against our clients for their administration of the estate.
Bankruptcy Trustees are appointed upon the filing of a chapter 7 bankruptcy and for cause in a chapter 11 bankruptcy (not to be confused with the United States Trustee, the “watch dog” division of the Department of Justice that oversees bankruptcy filings). The Bankruptcy Code vests trustees with the full authority to administer any bankruptcy estate for which they are appointed. Similar to trustees, the Bankruptcy Code also recognizes the rights and authority of Plan Administrators – i.e., individuals appointed following confirmation of a plan of reorganization or liquidation to oversee the confirmed plan. The primary purpose of both Trustees and Plan Administrators is to maximize the recovery of the estate, whether by way asset liquidation or pursuit of claims against creditors, insiders and any other party(ies) against whom the bankruptcy estate may have claims.
Our bankruptcy and restructuring department has decades of experience in representing chapter 7 trustees, chapter 11 trustees and plan administrators. Our firm has counseled trustees and plan administrators in all aspects of their duties. This may include obtaining approval of sales under Section 363 of the Bankruptcy Code, litigating objections to claims and pursuing recoveries by way of avoidance actions, such as preferences and fraudulent transfer claims, to maximize the recovery of the estate. Our attorneys ensure that our clients comply with the applicable provisions of the Bankruptcy Code, properly exercise their rights and obligations as trustees or plan administrators, and maximize the recovery of the bankruptcy estate. Some of our notable representations include:
- In Re.: Rock Airport of Pittsburgh, LLC – Represented Chapter 11 Trustee and consummated the sale of the property for $9 million
- In Re.: Prime Plastics, Inc. – Represented Chapter 11 Trustee and Chapter 7 Trustee and secured a settlement against officers and directors that enabled the sale of estate property for $1.8 million
- In Re.: Berkline/BenchCraft Holdings, LLC, et al. – Represented Plan Administrator of the bankruptcy Estates of Berkline/BenchCraft Holdings, LLC, et al.
- In Re.: Mon View Mining Company – Represented the Liquidating Trustee
If you have any questions regarding Bernstein-Burkley’s Bankruptcy & Restructuring services, please contact us at 412-456-8100.