Brutzkus Gubner Team Provides Significant Benefit to Creditors of the NAMCO Capital Group Bankruptcy
As special litigation counsel for Bradley Sharp, the Chapter 11 Trustee in In Re NAMCO Capital Group, Inc., (“NAMCO”) Brutzkus Gubner filed approximately 165 adversary proceedings to pursue 90-day preference actions, 1-year insider actions, fraudulent transfer actions, and open book account claims on behalf of creditors in the NAMCO bankruptcy. After nearly three years, most of the actions settled, some were dismissed, and a handful will go to trial later this year and next. As a result of the resolution of the actions, Brutzkus Gubner attorneys brought in almost $8,000,000 in cash to the NAMCO Estate, obtained judgments totaling almost $40,000,000, and obtained approximately $27,000,000 in waivers of claims, which dramatically reduces the pool of creditors. The recouped money will ultimately be used to pay NAMCO creditors.