Represented Cerberus and a number of individuals in a case brought by the Chapter 11 Trustee for the bankruptcy estate of WSNet Holdings, Inc. alleging claims of breach of fiduciary duty, equitable subordination and seeking in excess of $100 million. We defended the claims on the merits as well as on the grounds that the estate did not own the claims because they were derivative in nature and actually belonged to a subsidiary that was also in bankruptcy. Parties entered into a confidential settlement shortly thereafter.
