Bankruptcy Plan Fiduciary

Hays has served as post-confirmation plan fiduciary in many bankruptcy cases. These appointments include serving as Liquidation Trustee, Liquidating Agent, Liquidating Director and Disbursing Agent. The firm’s role in these cases is generally to wind down the business in Chapter 11 and make a final distribution to creditors.

Select Plan Fiduciary Appointments:

Aero Plastics, Inc.
Served as the Liquidating Director and Chief Executive Officer for this plastics manufacturing company which was operating in Chapter 11. The company, headquartered in Boston, Massachusetts with a manufacturing facility in Georgia, had annual revenues of $60 million and over 200 employees. Pursuant to the confirmed Plan of Liquidation, the firm was appointed as Liquidating Agent.

Film Fabricators, Inc.
Served as the Chapter 11 trustee and currently serve as the Liquidating Agent pursuant to a confirmed Plan of Liquidation. This plastics manufacturing company had plants in Indiana and Illinois with headquarters in Atlanta, Georgia and annual revenues of $28 million. A central issue of the plan was litigated and appealed to the Circuit Court. The Liquidating Agent prevailed on the ability to earmark funds from secured creditors for distribution to unsecured creditors. During the post-confirmation period, avoidance actions were resolved and a final distribution was made to creditors.

Fibrex Cordage, LLC
Served as the Liquidating Director for a manufacturer of cordage products including rope, twine, and webbing, with sales of over $50 million. Pursuant to the confirmed Plan of Liquidation, the firm was appointed as the Liquidating Agent. Under the Plan, certain causes of action are being pursued and recoveries will fund a distribution to creditors.

Stewart Finance Company
Served as the Chapter 11 trustee and, after the Plan of Liquidation was confirmed, served as the Liquidating Agent. Pursued malpractice litigation, managed the wind-down of the business and made a distribution to creditors.

Bankruptcy Plan Fiduciary