In the 4 year old case of a small chain of restaurants, Fresh Acquisitions, LLC and Dayspring Operating Company, LLC, Bankr. N.D. Tex., 21-bk-30721, Chief Bankruptcy Judge for the Northern District of Texas, voided a litigation funding agreement. A copy of the decision is posted here.
The basis for the Judge’s decision was that creditors were annoyed with the Liquidating Trustee’s decision to enter into a pricey litigation funding agreement without court approval, and the fact that they received no distributions after four years, and would likely get very little even if the ongoing litigation was successful.
My thought is whether there’s an opportunity to buy claims in this case cheap? Uncertainty creates opportunity. Anyone want to investigate?
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