G&E has extensive experience representing creditor interests in bankruptcy cases of all sizes, prosecuting claims and defending creditors from debtor “clawback” and other recovery actions. Firm attorneys have a practiced understanding of the Bankruptcy Code and skills in litigation arising out of major U.S. Chapter 11 bankruptcies and other U.S. and offshore insolvency and winding-up proceedings, some of which are noted below.

Company
Description
Cantor Fitzgerald
Refco Group, Ltd. v. Cantor Fitzgerald, LP, et al.

Southern District of New York

G&E is currently representing Refco Group’s bankruptcy estate and its administrator in a suit alleging that Cantor Fitzgerald deprived Refco of assets due pursuant to an investment and partnership interest. Particularly, Refco claims that its $8 million investment in exchange for a 10% holding in a Cantor Fitzgerald subsidiary was not fairly compensated when Cantor shut down that subsidiary, acquiring its proprietary technology and intellectual property. Refco alleges that Cantor continued to develop the business without compensating the estate. In June 2014, the case survived the motion to dismiss, and is now proceeding.

Flag Litigation Trust
Flag Litigation Trust v. Bande, et al.

Southern District of New York

G&E represented a litigation trust established by the Bankruptcy Court for the Southern District of New York for the purpose of pursuing litigation on behalf of the creditors of Flag Telecom Holdings Ltd. The complaint alleged breaches of fiduciary duty under Bermuda law by Flag’s officers and directors, aided and abetted by certain third parties, in connection with various fraudulent conveyances and the company’s filing of materially false financial statements. The suit was filed in New York Supreme Court, and subsequently removed to federal court by the defendants. In November 2010, the suit settled for $24.4 million.