LIQUIDATING TRUSTEE
Liquidating Trustees/Litigation Trustee/ Plan Administrator
Liquidating Trustees or Litigation Trustees work under an appointment by a U.S. District Court or on behalf of a creditor to handle the administration of the final affairs of a company or individual who is facing various forms of bankruptcy.
Larry S. Hyman and Associates have the ability to work under Chapter 7 of the U.S. Bankruptcy Code and under Chapter 11 of the U.S. Bankruptcy Code as a liquidating or litigation trustee or a plan administrator.
Under Chapter 7, Larry S. Hyman and Associates, as a trustee, have the responsibility to handle the liquidation of property and make distributions of dividends liquidated to applicable creditors. Under Chapter 11, the provision that our firm adheres to is one that usually provides for reorganization. Sometimes a trustee is not appointed in a Chapter 11 proceeding, but if in fact, it happens, we will be responsible for administering the reorganization plan through the initial filing and ultimately, we will work to assume responsibility for the company or the individual.
Throughout the plan administrator or trustee process, the advisors at Larry S. Hyman and Associates will work through negotiation with creditors and other parties involved in the case. We will assist with:
Analysis of tax situations and work to resolve outstanding issues.
Reconcile and manage claims process.
Work through collection situations.
Liquidate and sell individual or company assets.
Communicate throughout and manage the litigation process.
Dissolve any outstanding benefit plans.
Thoroughly investigate all liability affixed to the client.
Work to avoid unnecessary legal action.
Distribute final funds to allowed claimants and creditors.
The qualified professionals at Larry S. Hyman and Associates have the necessary expertise and knowledge to handle any trustee or plan administrator appointment. We will work to ensure that a positive and timely resolution is experienced by all parties involved in this process.