ROLE OF THE CHAPTER 11 TRUSTEE
As of November 1, 2010, pursuant to the Second Amended Plan, Barry E. Mukamal was appointed Liquidating Trustee for Palm Beach Finance Partners Liquidating Trust and the Palm Beach Finance II Liquidating Trust (collectively, the “Palm Beach Liquidating Trusts”).
The Liquidating Trustee is responsible for identifying and bringing claims and distributing the proceeds thereof on behalf of the Debtors’ bankruptcy estate according to the provisions set forth the Second Amended Plan, the United States Bankruptcy Code and applicable state law.
The Liquidating Trustee has investigated the validity of claims held by the Palm Beach Liquidating Trusts, hired accountants that have assisted him with his review of the books and records of the Debtors, initiated numerous adversary proceedings against third parties and has entered into a multitude of settlement agreements with third parties. |