united states bankruptcy court southern district of ... - Trustee Services

Case 09-34791-RBR Doc 2172 Filed 10/28/11 Page 2 of 34
appointment as Trustee. (D.E. 55).
4. Since the Trustee’s appointment and ratification, the Trustee’s professionals have
conducted a thorough analysis of RRA’s books and records and other financial data including
hundreds of millions of dollars in transfers made within the four year period prior to the petition
date to various parties, including Despacho de Abogados PMB, S.C., formerly known as
Despacho de Abogados Miembros de la Firma Rothstein Rosenfeldt Adler, (RRA), S.C., formerly
known as Despacho de Abogados Miembros de la Firma Ruden McClosky, S.C. (the “PMB
Firm”).
5. The Trustee issued a demand for payment to the PMB Firm and the Trustee and
the PMB Firm (together, the “Parties”) subsequently engaged in numerous discussions regarding
consensually resolving the matter.
6. As a result of such discussions, the Parties reached an agreement on a
comprehensive settlement (the “Settlement”), and executed a written settlement agreement (the
“Settlement Agreement”), a copy of which is attached as Exhibit A.
The Settlement
7. In considering the circumstances, and taking into account the nature of the claims
against the PMB Firm, the potential defenses to such claims, the risks associated with
litigating this matter, the likely difficulties in executing any judgment obtained and the
recoveries for the Debtor’s estate provided for in the Settlement, the Trustee believes that the
terms of the Settlement are favorable to the estate.
8. Pursuant to the Settlement, and as more fully described in the Settlement
Agreement and the judgment attached thereto, the PMB Firm will pay the Trustee $110,000.
9. As further set forth in the Settlement Agreement, if the PMB Firm fails to timely
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