Trustee Services

After managing the successful sale of Casual Male Corp.'s operating businesses, a team of ten people, led by three current Consensus professionals, managed the wind-down of this half-century old company and its 17 direct and indirect subsidiaries. We disentangled the financial history of these businesses and negotiated a global settlement among different creditor groups. We also resolved and closed out a wide range of claims ranging from real estate lessor rejection claims, workers compensation claims, pending litigation and sizeable tax and customs claims. All-in-all, we reconciled and resolved the claims of over 1,000 creditors. We developed proprietary claims management and check writing software, which enabled us to make timely distributions of dividends. Ultimately, while different classes of creditor had different distribution rights under the settlement and the plan, many creditors were paid 100 percent of their claims by the end of the case.