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ABI's Newest Publication Examines Issues Surrounding Litigation and Liquidation Trusts in Bankruptcy

Alexandria, Va. — The American Bankruptcy Institute's (ABI) newest publication, A Practitioner's Guide to Liquidation and Litigation Trusts, tackles issues surrounding litigation and liquidation trusts established in an insolvent company’s bankruptcy proceedings. Such cases as General Motors, ASARCO, Tronox, Enron and Bernard L. Madoff Investment Securities LLC have established these types of trusts as vehicles that can be separated from the insolvent company's business operations to administer assets that have uncertain recoveries or that may require significant time to handle (such as environmental claims). A Practitioner's Guide to Liquidation and Litigation Trusts is designed to give bankruptcy and other professionals an overview of how and when trusts can be used to handle significant large-scale litigation matters and the liquidation of other assets for the purpose of accumulating recoveries and distributing them across multiple claimants.

 

Authors of the Guide are seasoned practitioners in the areas of liquidation and litigation trusts. Experts contributing to the book include David P. Bart of McGladrey LLP (Chicago), Daniel D. Doyle of Lashly & Baer, P.C. (St. Louis), Ronald E. Gold of Frost Brown Todd (Cincinnati), Lucian B. Murley of Saul Ewing LLP (Wilmington, Del.), Grant W. Newton of the Association of Insolvency and Restructuring Advisors (Medford, Ore.), Kenneth Pasquale of Stroock & Stroock & Lavan LLP (New York), Michael H. Reed of Pepper Hamilton LLP (Philadelphia) and Edward L. Schnitzer of Hahn & Hessen LLP (New York).

 

The authors offer guidance on the most common issues faced in establishing, managing, monitoring and ultimately concluding a liquidation trust or litigation trust. Convenient checklists, relevant case citations and references to bankruptcy-related issues, as well as recommended forms of trust agreements and suggested provisions for bankruptcy plans and disclosure statements, are also provided in this 275-page guide (plus over 500 sample pages from liquidation and litigation cases).

 

A Practitioner's Guide to Liquidation and Litigation Trusts is currently available for pre-order. Members of the press looking to access a preview of the book or to arrange an interview with the authors should contact ABI Public Affairs Manager John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 12,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.