FLP’s Alan Forsley Causes Minority LLC Member’s Lawsuits to be Settled on Favorable Terms
11/11/2021
FLP’s client was forced out of two LLCs and denied any further distributions,
so he filed a lawsuit against each LLC and their managing members. The
client then substituted FLP into the cases as his counsel. After defeating
the majority members’ motions to cause both lawsuits to be arbitrated,
the parties attended mediation and settled with the managing members buying
out FLP’s client’s minority membership interests at very favorable terms.
FLP Successful in Opposing Defendants Writ of Mandate
7/15/2021
On behalf of the client, FLP sued defendants, directors of a corporation,
to recover over $1.3 million in state court for breach of fiduciary duty
owed to creditors.
232 Grand Blvd., LLC v. Maeda et al. Orange County Superior Court CaseNo. 30-2020-01156788. Defendants filed a motion to dismiss, but lost to FLP’s opposition.
Defendants then filed a Petition for Writ of Mandate to the Court of Appeal,
but the writ too was denied.
Maeda v The Superior Court of Orange County, Court of Appeal, 4th Appellate District, Case No. G060070.
Debtor’s Chapter 11 Reorganization Plan Confirmed
7/12/2021
Confronted with 16 alter ego creditors from a failed $60 million wholesale
pie baking company, who claimed they were owed over $5 million, FLP’s
clients filed Chapter 11 to have the alter ego creditor claims heard in
the bankruptcy court. At mediation, Debtors settled the 16 alter ego creditor
claims. On April 8, 2021, the bankruptcy court confirmed Debtor’s
plan of reorganization, which involved over $5 million in unsecured claims,
including millions of dollars in guarantee claims.
In re Bonert, 2:19-bk-20836-ER.
United States District Court Affirms Fourth Fee Order After FLP Knocked Out $5 million in Claims
2/15/2021
FLP obtained another fee award for its debtor client after the Bankruptcy
Appellate Panel for the Ninth Circuit sustained the client’s objections
to the creditor’s $5 million in claims. This $20,527.50 award was
the fourth fee order in favor of the same client. The U.S. District Court
affirmed the fee order.
Asphalt Professionals, Inc. v. Darin Davis, Case No. 2:20-cv-03492-RGK.
Debtor’s Chapter 11 Reorganization Plan Confirmed
1/28/2021
Confronted with a multi-million dollar adverse judgment and unable to afford
an appeal bond, FLP’s client filed Chapter 11 to protect her assets
during the pendency of her appeal. On January 28, 2021, the court confirmed
Debtor’s plan of reorganization, which involved over $55 million
in unsecured claims, including millions of dollars in claims held by overseas
creditors.
In re Trinh, 2:18-bk-11475-RK.
The 9th Circuit Court of Appeals Further Affirms the Fee Award and Claim Objections
9/23/2020
On behalf of the debtor client, FLP obtained a $92,347.79 fee award against
the creditor and prevailed in objecting to creditor’s $5 million
in proofs of claim, both of which were affirmed by the Bankruptcy Appellate
Panel. FLP then defended creditor’s further appeals to the 9th Circuit Court of Appeals where the orders were again unanimously affirmed.
Asphalt Professionals, Inc. v. Darin Davis, Case Nos. 19-60036 & 19-60061
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