Crown paper liquidating trust
The cases focus on the claims and interests asserted by various parties to the approximate million proceeds of litigation by the debtors against the government over an assistance agreement entered into at the time of acquisition of several failed Ohio thrifts which were merged into Transohio.
Upon the confirmation of the debtors chapter 11 plans, Mr.
Beck was appointed Liquidating Agent to assume control over the debtors and the determination of claims and prosecution of any causes of action to which the debtors remain entitled.
In April 1998, upon the recommendation of creditors, Mr.
However, ultimately, the determination was made to engage in an orderly liquidation of the homebuilding and related assets.
At the time of a chapter 11 filing in 2008, Tousa, Inc.In addition to his service as Trustee of Southeast, he has been designated as Successor Agent to the Federal Deposit Insurance Corporation as Receiver of Southeast Bank, N. In this capacity, he has administered the remaining assets and claims in this formerly billion bank’s receivership, including a distribution of over 0 million to himself as Trustee of Southeast Banking Corporation, and tens of millions of dollars in other claims and assets. Beck was selected by the creditors to become trustee of the Conti Financial Corporation Liquidating Trust formed pursuant to the confirmed Chapter 11 Plan of the company and its affiliates (U. Bankruptcy Court for the Southern District of New York).The company was formerly a NYSE listed company engaged nationally in the sub-prime lending area.Inc., Price Waterhouse Coopers LLP and a unit of Credit Suisse Group, of approving a fraudulent transaction executed by Crown's parent company at the time, James River Corp.In that transaction, James River set up Crown as a subsidiary, then saddled it with hundreds of millions of dollars in debt and underperforming assets, according to the Crown trust's court filings, and then spun off Crown as a separate company.