Trustees / Fiduciaries / Receiverships

Trustees in bankruptcy, indenture trustees and receivers typically have great influence in the efficient, successful resolution of matters involving distressed businesses and troubled assets. The lawyers of Troutman Sanders’ Financial Restructuring and Insolvency practice have extensive experience representing Chapter 11 and Chapter 7 trustees, indenture trustees in proceedings under the Bankruptcy Code, Securities Investor Protection Corporation (SIPC) trustees, and state and federal court receivers. We also advise standing, appointed and elected trustees, financial institutions in their capacity as indenture trustees, and collateral agents and equity receivers. Our lawyers also have experience serving as court-appointed fiduciaries.

Representative Experience

  • Served as lead counsel for the Chapter 11 trustee of 48 real estate corporations involved in a multimillion dollar Ponzi scheme; successfully recovered and sold various properties and recovered millions of dollars for the defrauded investors, resulting in a recovery in excess of 52 percent on creditors’ claims.
  • Served as special litigation counsel for the Chapter 7 trustee; successfully prosecuted breach of fiduciary duty and fraudulent conveyance claims against the controlling shareholder and various officers and directors, resulting in multiple judgments in excess of $200 million and the recovery of millions of dollars for the benefit of creditors.
  • Served as lead counsel to the Chapter 11 trustee of 75 real estate corporations and partnerships owning more than 75 commercial and multifamily properties in Manhattan; successfully negotiated the sale of all of the properties and litigated numerous fraudulent conveyance actions involving hundreds of millions of dollars; and successfully confirmed all 75 cases under the trustee’s plan of reorganization, resulting in 100 percent distribution to creditors.
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