Representative Results

Bankruptcy, litigation & accounting services

Results of Our Ligation

Review outcomes attained by LSS&M in these representative recoveries and settlements:

Ameritruck Distribution

$20 MILLION RECOVERY

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Recovery Source:
  • Secured Lender - $14 million re lender liability, equitable subordination, wrongful foreclosures, and fraudulent transfers
  • D&O Policy / Beauchamp - $2.2 million re mismanagement, fraudulent transfers, and corporate waste
  • Insurance Co. - $1.2 million re ERISA violations for unpaid health claims
  • Financial Institution- $500,000 re fraudulent transfer of rollup and leveraged buyout of 6 trucking companies
  • Lessor - $500,000 re fraudulent transfer of equity in equipment
  • Insurance Co. - $1.6 million of unearned premiums
  • Claims Objections - $50 million
American Workforce 401k Profit Sharing Plan and Trust

$15 MILLION RECOVERY

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Recovery Source:
  • Bank - $7 million re fiduciary duty
  • Insurance Co. - $1 million re fiduciary duty
  • Insurance Co. - $3 million re fiduciary duty
  • Insurance Co. - Agreement to process health claims for estate
  • IRS - Subordination to unsecureds of multi-million dollar claim
Cornerstone Prodigy Group

RECEIVERSHIP

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Recovery Source:
  • Recovered funds sufficient for 50% distribution to creditors
  • Traced $15 million of cash and stock transfers
George Winans

RECEIVERSHIP, $4 MILLION RECOVERY

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Recovery Source:
  • Settled with law firm for $4 million re malpractice.
Hammersmith Trust/Bridgeport Alliance

RECEIVERSHIP

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  • Traced $60 million of funds and located assets in Europe
Harbor Financial Group

$66 MILLION RECOVERY

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Recovery Source:
  • Bank - $5.6 million
  • Bank Group - $8.9 million
  • Insurance Co. - $5.3 million
  • Bank - $3.8 million
  • Bank - $3.6 million
  • Bank - $3.5 million
  • Bank Group - $1.2 million
  • HUD - $2.6 million
  • Fannie Mae - $2 million
Le Club Privé

RECEIVERSHIP

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Recovery Source:
  • Traced in excess of $10 million of funds overseas in Costa Rica, Europe, and Asia.
  • Recovered funds sufficient to make 80% distribution to creditors.
Malcolm Kelso

$3 MILLION RECOVERY

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Recovery Source:
  • Law Firm - $2.8 million re malpractice and fiduciary duty.
Q-Entertainment (Q-Zar)

$14 MILLION RECOVERY

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Recovery Source:
  • Accounting Firm - $14 million re malpractice.
TIC United Corp.

$20 MILLION RECOVERY

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Recovery Source:
  • Financial Institution - Ruling on summary judgment resulting in $20 million recovery re invalid cross-collateralization of liens, unperfected liens, and unauthorized transfers of funds.
Trade Partners

RECEIVERSHIP

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Recovery Source:
  • Filed lawsuit seeking $250 million recovery
  • Performed forensic analyses of funds in excess or $350 million

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