Legal Question in Bankruptcy in New York

Chapter 11 Bankruptcy

I am a 20% shareholder of a NY corporation, that filed chapter 11 in 2001, it is now converted to ch. 7 Three of my partners began the proceeding without my knowledge and approval. Furthermore they have embezzled in excess of $1 million, and with the aid of Nextel communications executives attempted to transfer the assets and Agency Agreement to another company to eliminate mine and another persons share of the business. All of my partners received there ownership as part of comensation for doing there job. The US trustee has filed a $20 million claim against Nextel for breach of Contract. Do I have a claim to the shares my partners received as comp, Against them personally for damages caused by them to me and against Nextel and its executives who committed the fraudulent acts? Furthermore the US trustee has filed a claim against me for not stopping them from stealing.


Asked on 6/17/04, 3:46 pm

1 Answer from Attorneys
Anthony Lee Gallo & Iacovangelo, LLP

Re: Chapter 11 Bankruptcy

You should speak with an attorney as soon as possible. You may have claims and would need to act quickly to preserve your rights. In addition you should have legal representation in dealing with the U.S. Trustee. I would be happy to discuss this matter futher. You may call me at 585-454-7145, x249

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Answered on 6/17/04, 6:03 pm


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