In any Chapter 11 bankruptcy, the recovery of assets into the debtor's estate is an essential objective for the debtor, the unsecured creditors, and other parties in interest. In many cases, asset recovery will be the only realistic path toward mitigating the financial losses faced by all concerned.
NYC Bankruptcy Attorneys: Asset Recovery Services
At Togut, Segal & Segal, we excel at recovering assets in complex Chapter 11 cases. Whether serving as lead counsel for the debtor, as conflicts counsel or in a trust administration capacity following confirmation of a liquidating plan, we devote equal attention to both sides of the asset recovery equation: the aggregate amount we can recover for the estate and how much it will cost to collect it. Our focus on efficiency in asset recovery stands as one of the major strengths of our practice.
Contact our business bankruptcy attorneys online today, or call 212-594-5000 to learn more about our asset recovery services.
In-Depth Investigations and Innovative Solutions
Our ability to streamline the investigation and analysis of different ways to recover assets mean that creditors and claimants receive a higher proportion of those assets. Litigation costs incurred on behalf of the estate are first priority administrative expenses that are paid before other unsecured creditors, and it is not unheard of for lawyers' fees to consume the entire value of any assets brought back into the estate. By controlling costs and because of our efficiencies, Togut, Segal & Segal preserves the most value for creditors and claimants.
Togut, Segal & Segal pursues assets of the estate in a wide variety of situations:
- Preferential payments
- Fraudulent conveyances
- Accounts receivable
- Rebates and overcharges
- Tax refunds
- Unliquidated tort or contract claims
Togut, Segal & Segal has recovered millions of dollars that would otherwise have been unavailable to creditors. In just three cases — Enron, Collins & Aikman, and Tower Automotive — we recovered more than $175 million in cash for the bankruptcy estates in preference payments alone. Our attention to detail and skill also promotes prompt and favorable settlements. In one Chapter 11 case, our lawyers settled 349 out of 350 identified claims without the need for trial or protracted litigation.
Contact a New York City Asset Recovery Lawyer
Call 212-594-5000 for additional information about our experience with asset recovery in complex Chapter 11 cases. You may also contact our firm online and a member of our team will be in touch shortly to discuss your specific needs.