Firm Concludes Successful Representation of Trustee In Banyon Cases - December 28, 2021

The firm was  bankruptcy counsel for Robert Furr the Chapter 7 Trustee for  Banyon 1030-32 and Banyon Income Fund, investors. The debtors were feeder funds that raised money from investors or lenders and invested funds in a Ponzi scheme perpetrated by Scott W. Rothstein and Rothstein, Rosenfeldt Adler, P.A.  Over $735 million in claims were filed against the debtors. The assets of the bankruptcy estates consisted primarily of litigation claims, including a significant settlement with TD Bank. The administration of these cases resulted in the recovery of  more than $67 million. Creditors holding non-subordinated claims have were paid in full and additional funds were used to make  distributions to creditors holding subordinated claims. Russell Blain, Matt Hale, Harley Riedel, Scott Stichter and Steve Leslie were involved in this representation.