Bearingpoint liquidating trust agreement

Bearingpoint liquidating trust agreement

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.Liquidating Trust, announced today a $28 million special litigation distribution to creditors.This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.“This distribution caps a three-year effort by our team.We're happy to get this money into the hands of our creditors, where it belongs,” said John De Groote, President of John De Groote Services, LLC.You need someone who can build a coalition among divergent viewpoints in a high-pressure situation to get things done.

||

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.

The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.

Liquidating Trust, announced today a $28 million special litigation distribution to creditors.

This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.

“This distribution caps a three-year effort by our team.

billion to

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.Liquidating Trust, announced today a $28 million special litigation distribution to creditors.This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.“This distribution caps a three-year effort by our team.We're happy to get this money into the hands of our creditors, where it belongs,” said John De Groote, President of John De Groote Services, LLC.You need someone who can build a coalition among divergent viewpoints in a high-pressure situation to get things done.

||

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.

The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.

Liquidating Trust, announced today a $28 million special litigation distribution to creditors.

This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.

“This distribution caps a three-year effort by our team.

.4 billion or by selling the Company’s businesses for an aggregate price of

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.Liquidating Trust, announced today a $28 million special litigation distribution to creditors.This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.“This distribution caps a three-year effort by our team.We're happy to get this money into the hands of our creditors, where it belongs,” said John De Groote, President of John De Groote Services, LLC.You need someone who can build a coalition among divergent viewpoints in a high-pressure situation to get things done.

||

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.

The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.

Liquidating Trust, announced today a $28 million special litigation distribution to creditors.

This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.

“This distribution caps a three-year effort by our team.

.56 to .3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately 0 million and resulting in losses of 7 million to

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.Liquidating Trust, announced today a $28 million special litigation distribution to creditors.This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.“This distribution caps a three-year effort by our team.We're happy to get this money into the hands of our creditors, where it belongs,” said John De Groote, President of John De Groote Services, LLC.You need someone who can build a coalition among divergent viewpoints in a high-pressure situation to get things done.

||

The Complaint further alleges that the failures of the directors were avoidable, and directly resulted in the decline of the Company’s value and inability to obtain the best price available for its assets, which the directors could have achieved by either selling the Company as a whole for a price in the approximate range of $1 billion to $1.4 billion or by selling the Company’s businesses for an aggregate price of $1.56 to $2.3 billion. The hearing before the United States Bankruptcy Court for the Southern District of New York on the Motion for an Order (A) Enforcing Confirmation Order, (B) Holding F. On February 7, 2013, the Court entered an Order finding that: 1. The Court further ordered that: A) The Former Directors are enjoined from prosecuting or continuing the claims brought in the New Virginia Lawsuit in any forum other than that of the Honorable Robert E.

The Complaint further alleges that, instead, the directors’ failures led to Bearing Point’s bankruptcy and liquidation of its business units and other assets, yielding net proceeds of approximately $400 million and resulting in losses of $627 million to $1.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.

Liquidating Trust, announced today a $28 million special litigation distribution to creditors.

This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for $55 million with no admission of liability.

“This distribution caps a three-year effort by our team.

.88 billion. The Confirmation Order is binding on the Former Directors; and 2. Gerber of the United States Bankruptcy Court for the Southern District of New York; B) The Former Directors shall, within 10 business days of the date of the Order, voluntarily dismiss the New Virginia Lawsuit without prejudice or move to transfer it to the Court of the Honorable Robert E.Liquidating Trust, announced today a million special litigation distribution to creditors.This supplemental distribution will be made immediately and results from the Trust's lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for million with no admission of liability.“This distribution caps a three-year effort by our team.We're happy to get this money into the hands of our creditors, where it belongs,” said John De Groote, President of John De Groote Services, LLC.You need someone who can build a coalition among divergent viewpoints in a high-pressure situation to get things done.

The Unsecured Creditor Pool now stands at approximately 1 million.

Nineteen months later, in February 2009, Bearing Point was bankrupt, and was later liquidated, yielding approximately 0 million in net proceeds. Under the settlement the Trust will receive ,000,000, with no admission of liability, and a release of claims, by all parties. The Memo in Support of Defendant Harbach’s Motion is available here.

The Complaint filed in this dispute seeks redress for the alleged breaches of fiduciary duty that caused this loss to the Company’s shareholders and creditors, and alleges specific instances where Bearing Point’s directors failed to develop, manage and oversee the Company’s sales process, instead allowing it to be dominated by a self-interested Chief Executive Officer who had a personal interest in ignoring significant segments of the marketplace in order to maintain his management position, vest certain equity interests, and obtain new equity holdings in the purchasing entity. Motion to Approve Settlement Filed Today John De Groote Services, LLC filed with the United States Bankruptcy Court for the Southern District of New York a Motion for Entry of an Order Approving Settlement Between the Liquidating Trust and F. The Brief in Support of the Director Defendants’ Motion is available here, as well as an Index of associated shared Exhibits. A pre-trial conference is scheduled for Thursday, February 14, 2013, during which time the Hearing on the Motion for Summary Judgment will be scheduled. Munson in Contempt, and (C) Imposing Sanctions for Willful Violation of Confirmation Injunction (see prior update) took place on January 31, 2013, and a transcript of the hearing can be found here.

"At this point the primary assets of the Trust have been liquidated, and our remaining focus is to extinguish the final obligations of the Trust," De Groote said.

"We do not anticipate a final distribution for at least another year, and the amount of that distribution, if any, will hinge on the cost of those efforts and the net amounts realized from our remaining assets," he added.

bearingpoint liquidating trust agreement-78bearingpoint liquidating trust agreement-25bearingpoint liquidating trust agreement-55

Join our conversation (64 Comments).
Click Here To Leave Your Comment Bearingpoint liquidating trust agreement.

Comments:

Leave a Reply

Your email address will not be published. Required fields are marked *