C., and as a member of the adjunct faculty of The Catholic University of America’s law school.
Steve is a former Chapter 7 bankruptcy trustee and a past chair of the District of Columbia Bar’s Business Bankruptcy Committee. Prior to joining Hirschler Fleischer, Steve was a partner with Venable LLP, Zuckerman Spaeder LLP, and Tucker Flyer PC, in addition to having maintained his own firm, Leach Travell, for many years.
(P91; D146.) LFG also requested a million draw on an existing line of credit and attempted to obtain new lines of credit equal to the par value of the frozen ARSs.
Plaintiffs had previously transacted a §1031 exchange in 2002-2003, utilizing the services of LTIC and LES's predecessor company.
William Evans ("Evans") served as the Chief Financial Officer for LFG, director for LES, and Senior Executive Vice President for LTIC and CLTIC.
(P6, P8, P9.) Stephen Connor ("Connor") was the Chief Operations Officer and a director of LES.
¶ 12.) Plaintiffs claim that their failed 1031 exchange was "the penultimate exchange LES engaged in prior to its Bankruptcy filing" on November 26, 2008.
(P98, P99, P102, P103.) Following the February 2008 ARS freeze, LFG's officers and directors explored a number of avenues for obtaining additional funds in an effort to remediate LES's liquidity deficit.The suit arises out of Plaintiffs' unsuccessful attempt to effectuate a tax-deferred land exchange ("§1031 exchange") pursuant to Section 1031 of the Internal Revenue Code, 26 U.Approximately one week later, LES — then a sister-corporation to LTIC and CLTIC — filed for bankruptcy.In either case, it is undisputed that LFG's efforts to resolve LES's liquidity deficit were unsuccessful and, by late November 2008, LES could no longer continue its activities as a QI.(D2.) Two days later, LES and LFG filed voluntary Chapter 11 petitions.Steve’s four decades of experience, advising and representing creditors, debtors, trustees and committees in bankruptcy cases and workouts, sets him apart from the crowd.