LPCH has extensive experience with bankruptcy related litigation. We represent debtors, creditors and other interested parties in claims both in bankruptcy court and in other venues. Our experience with alternative fee arrangements and, in particular, our preference for contingent fee agreements and other results-based compensation have proven attractive to bankruptcy estates seeking to maximize recovery while minimizing their own up-front expenses and risk.
LPCH represented the surviving officer of Opus West, Inc. against its direct and indirect parents, as well as various former officers and directors. Opus West sought to recover more than $100 million, consisting of dividend payments made during the three years prior to filing for bankruptcy and benefits received by former officers and directors in related-party transactions. After obtaining a favorable summary judgment ruling on certain of its claims, LPCH negotiated a settlement pursuant to which defendants paid our client $45 million and withdrew claims valued at almost $50 million.
We acted as lead counsel for Texas Rangers Baseball Partners in the state court litigation against Thomas O. Hicks and Ballpark Real Estate, L.P. The case involved claims for fraudulent transfers and breach of fiduciary duty against Mr. Hicks, as well as conspiracy and/or aiding and abetting claims against Ballpark Real Estate, L.P. LPCH procured a favorable settlement.
LPCH represented solar energy company SpectraWatt, Inc. (“SpectraWatt”) in a multi-million dollar breach of contract case. SpectraWatt had filed for bankruptcy protection in the Southern District of New York. The liquidating trustee engaged LPCH to pursue the litigation claim on behalf of SpectraWatt. Shortly after LPCH’s engagement, LPCH procured a favorable confidential settlement for the benefit of the creditors.
LPCH represented the regional accounting firm Cheshier & Fuller, LLP in connection with claims brought by the Trustee for Support Securities. The Trustee alleged that C&F negligently performed audits of Support’s financial statements because those audits failed to detect the CEO’s theft of $25 million of certain funds. LPCH tried the case to the Bankruptcy Court, and demonstrated that other parties were responsible for 95% of the loss.