Julie Manning is Chair of the firm's Bankruptcy and Creditors' Rights Practice Group. Julie's practice includes commercial litigation and bankruptcy matters such as Chapter 11 reorganization cases, contract disputes, complex litigation matters, creditors rights cases, and foreclosures. She regularly represents financial institutions, corporations, partnerships and individuals in contested litigation matters pending in federal and state court. Julie has represented creditors in many of the largest Chapter 11 cases filed in the United States, including Chrysler LLC, Enron Corporation, U.S. Airways, Kmart Corporation, Delta Air Lines, Inc., Ames Department Stores, Northwest Airlines and United Airlines. Julie acts as bankruptcy counsel to one of the top 50 Fortune 500 Companies in bankruptcy matters pending throughout the United States. She also provides general advice to corporate and individual clients on business litigation issues.
We were retained by a client appointed to act as the independent fiduciary of the Trust Advisors Stable Value Plus Fund due to allegations of wrongful conduct regarding the Fund's assets, which total more than $260,000,000 in pension plan investments of approximately 1,500 pension plans, to represent it with regard to bankruptcy and employee benefits issues. On September 30, 2005, the client filed a Chapter 11 case in the Connecticut Bankruptcy Court to preserve the assets of the Fund and ensure an orderly distribution of the Fund's assets to all investors. Following extensive negotiations with the Court-appointed Investor Committee and other parties-in-interest, the firm prepared and filed the Fund's Plan of Reorganization with the Court. After submitting the Plan to investors for approval, 99% of all voting investors voted in favor of the Plan. On July 28, 2006, the Plan was confirmed by the Connecticut Bankruptcy Court. This case is one of only a handful of Chapter 11 cases filed in the Connecticut Bankruptcy Court to confirm a Plan of Reorganization in less than one year.
In re Britton, 300 B.R. 155 (Bankr. D. Conn. 2003). A legal team composed of attorneys from the Bankruptcy and Trusts and Estates practices successfully represented long standing Trusts and Estate client by successfully challenging the Chapter 7 Trustee's attempt to include the income and principal of several Spendthrift Trusts into the bankruptcy estate of a contingent remainder beneficiary. The Court held that a trust that gave the trustees sole discretion to make periodic distributions of income and/or principal in such amounts as they deemed advisable for the support, maintenance and/or education of the beneficiaries (our client) was a valid Spendthrift Trust under Connecticut Law and therefore not property of the Debtor's estate.