Order Establishing Streamlined Procedures Governing Adversary Proceedings with Total in Controversy Greater Thank ,000.00 Brought by Peter Kravitz, as Liquidating Trustee of the RSH Liquidating Trust.Signed on Motion to Approve Plaintiff's Motion for Orders Establishing Streamlined Procedures Governing Adversary Proceedings Brought by Peter Kravitz, as Liquidating Trustee of the RSH Liquidating Trust Pursuant to Sections 502, 547, 548 and 550 of the Bankruptcy Code Filed by Peter Kravitz, as Liquidating Trustee of the RSH Liquidating Trust.
A liquidating trust may be useful when the debtor has valuable assets such as real estate that can be sold to pay creditors but, because of the nature of the assets, they can be liquidated only over a period of time.
An escrow account may be utilized when the debtor has cash or other liquid assets that can be placed into an account, and the escrow agent becomes a stakeholder for the assets pending the resolution of disputes surrounding contested claims.
A designated settlement fund is a fund established pursuant to a court order which extinguishes the taxpayer's tort liability with respect to claims arising out of personal injury, death, or property damage.
The establishment of a liquidating trust, escrow account or settlement fund pursuant to a chapter 11 plan may enable a debtor to satisfy its legal obligations to creditors, and to hasten its departure from bankruptcy at an earlier date, by transferring certain assets to the trust or escrow account.
For example, in two chapter 11 mega-cases, one involving the Manville Corporation and the other involving A. Robins Company, trusts were established pursuant to the chapter 11 plan or reorganization to deal with the claims of creditors.
If a liquidating trust is established, the trust is normally funded with property which will be reduced ...
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IN RE: THE CONSOLIDATED FGH LIQUIDATING TRUST f/k/a FRIEDE GOLDMAN HALTER, INC., Et al., Jointly Administered.
LIQUIDATING TRUSTEE FOR THE CONSOLIDATED FGH LIQUIDATING TRUST, Plaintiff.