Zucker Goldberg & Ackerman LLC and its creditors have agreed to have an examiner investigate possible claims against current and former members of the bankrupt foreclosure law firm and related “insiders,” but attorneys for the parties argued over the appointee’s exact responsibilities at a hearing Friday in New Jersey.
In trying to reconcile competing orders for the examiner, Stolz and an attorney for the creditors, David J. Adler of McCarter & English LLP, debated issues including the amount of involvement that the committee should have once an examiner submits a work plan and budget and whether creditors should have access to records underlying the examiner’s eventual report.
Adler said he wanted the investigation to be a dialogue that went beyond simply the firm providing documents to the examiner.
“We’re going to see a report and not know what was reviewed and what was not reviewed,” Adler said.
The unsecured creditors committee is represented by David J. Adler and Matthew B. Heimann of McCarter & English LLP.