1031 Tax Group Files Liquidation Trust Deal

Law360, New York (December 4, 2009, 6:12 PM EST) -- The Chapter 11 trustee for The 1031 Tax Group has set up the liquidation trust that will serve as his successor-in-interest to distribute the assets gathered and prosecute the remaining claims arising from the scandal-plagued financial firm's bankruptcy.

Trustee Gerard A. McHale filed the liquidation trust agreement in the U.S. Bankruptcy Court for the Southern District of New York on Thursday.

Under the settlements obtained thus far the liquidation trust currently holds about $80 million — before attorney and other professional fees are deducted — to...
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