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Kang Judgements

kang judgements

The plan administrator for the liquidation trust of the bankruptcy estates of two individuals, who filed bankruptcy petitions in 2010 on behalf of themselves and their companies, retained Hilco Streambank to market and sell his position as judgment creditor under multiple judgments. After more than a decade of administering the estate and prosecuting adversary proceedings against the individuals for fraud, RICO, and other violations, the plan administrator held judgments against the individual debtors and other non-debtor defendants for more than $12 million in the aggregate.

After a targeted 6-week marketing process, Hilco Streambank successfully identified a buyer of the plan administrator’s position as judgment creditor. We assisted in negotiating a final purchase price exceeding the initial bid amount by more than three times. The transaction provided additional funds for the liquidation trust and enabled the plan administrator to begin the process of closing the decade-long case.

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