Prime Clerk, LLC is the claims agent for Green Field Energy Services, Inc.
General case information can be found at: https://cases.primeclerk.com/gfes/ and the official ECF docket can be found on Bankruptcy Court’s website at: .
Ambridge’s Liquidating Trustees Liability Insurance policy has been developed to address the unique exposures facing liquidating trusts and their trustees.
Because liquidating trusts are formed to maximize value and distribute to creditors some or all of the proceeds of divested assets of a formerly distressed and now liquidated entity, trusts and trustees are subject to scrutiny of already disgruntled beneficiaries or other third parties who may disagree with the manner in which the trustee is attempting to liquidate otherwise illiquid assets.
Current seven-day subscribers to the Richmond Times-Dispatch can add unlimited digital access to their account for no extra charge. You have reached the limit of 10 free articles per 30 days.To continue, log in now or sign up for a digital Richmond Times-Dispatch subscription for only .99 per month.After the debtor in possession created a liquidation trust to pursue the estate's legal claims, the liquidating trustee sued the debtor's officers for .8 million alleging that they breached their fiduciary duties to the company.In response, the debtor's liability carrier filed a declaratory judgment action asserting that, because the lawsuit falls within the "insured-versus-insured" exclusion, the policy does not cover the Trustee's lawsuit. brought by, on behalf of, or in the name or right of the Company (as defined under the policy including the debtor, Capitol Bancorp) or any Insured Person . ." except for derivative suits by independent shareholders and employment claims.Under the Plan and the Liquidating Trust Agreement, the Liquidating Trustee was appointed to administer the Liquidating Trust. The substance of the Complaints reviewed thus far is somewhat standard.