Millions In Assets Overlooked by Liquidators and Trustees

Liquidators often overlook assets, owned by debtors, which are held by state unclaimed property agencies.  Sometimes the value of those overlooked assets is substantial. Several years ago, a debtor reopened its S.D.N.Y. Chapter 11 liquidation case, which had been closed for over three years, to recover over $1 million in assets held in debtor’s name …

More Assets Overlooked by Debtors-In-Possession & Trustees

 Another class of assets typically overlooked by liquidators are unclaimed dividends deposited in U.S. Bankruptcy Courts. In a bankruptcy case, the bankruptcy trustee “dividend” checks to creditors of the debtor in payment of allowed claims.  Since payment of these claims often take years, a creditor’s address may change and some of these checks get lost …