If the debtor in a complex Chapter 11 case cannot win creditor support for a plan of reorganization that will allow it to continue operations as a going concern, an alternative is the confirmation of a Chapter 11 liquidating plan, which typically calls for the debtor to sell off or collect its remaining assets and transfer the proceeds into trust. A trustee is selected by the creditors to administer and distribute the assets according to the priorities set forth in the plan.
Contact our New York City post-confirmation trust counsel online today, or call 212-594-5000 to discuss your specific legal needs with a member of our team.
New York Chapter 11 Liquidating Plan Attorneys
Togut, Segal & Segal has extensive experience with the functions of post-confirmation trust counsel following the approval of Chapter 11 liquidating plans. Our attorneys can fulfill the legal and practical responsibilities related to the two main tasks associated with Chapter 11 liquidation: asset sales and asset recovery, including preference litigation.
The most positive return on the debtor's assets is often available through the recovery of preferential payments, fraudulent conveyances and other unliquidated claims in the hands of the debtor-in-possession. Beyond merely protecting the value of the debtor's remaining assets, our lawyers create value through creative and cost-effective approaches to post-confirmation litigation.
Liquidating plans are often regarded as offering creditors a higher return on the assets at a lower administrative cost than conversion to a Chapter 7 case, and Togut, Segal & Segal can advise the post-confirmation trustee about the best ways to achieve that result. Contact us at our New York City offices to learn more about our approach to creating and protecting asset value under a Chapter 11 liquidating plan.
Contact a New York Bankruptcy Attorney
You may call 212-594-5000 or you may contact our New York Chapter 11 bankruptcy firm online to discuss your needs and to schedule an initial consultation.