Whose Cause of Action is it Anyway?
In the scramble for assets of an insolvent business in bankruptcy, trustees and creditors often turn to potential litigation recoveries against third parties who are perceived as having some culpability for the debtor's demise. Within that dynamic, issues continually arise whether a particular cause of action belongs to the debtor's estate, or to certain or all of the creditors of the debtor. In this article, Bankruptcy and Creditors' Rights attorney Irve Goldman provides guidance in answering that sometimes troublesome question with the help of a growing body of caselaw.
Please see the attachment below for the full article.