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- Opportunity: An international turnaround consulting firm asked Doerner to defend it against a Chapter 7 trustee’s claim that its prepetition work for a convenience store chain’s Chapter 11 rendered it liable to the Chapter 7 estate of an entity that was related to the store chain and was its largest creditor. The issue of the turnaround consultant’s control over the convenience store chain was pivotal to the trustee’s claims, and as such, that aspect of the case required our immediate attention.
- Solution: The allegations required our immediate action, and we began interviewing more than 60 fact witnesses while setting a deposition schedule before the Trustee even began. These early interviews shored up our defense against the trustee’s control liability theory, undermined the theory of harm to the bankrupt related entity and showed evidence of actual financial benefit to that entity from the turnaround firm’s work.
- Result: This strategy positioned our client for a much more favorable settlement with the bankruptcy estate than it would have had without our efforts.
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