DR. ARNOLD KLEIN

Case Highlights

• High net worth individual debtor case
• Complex litigation claims alleging fraud and embezzlement of personal wealth retirement plans

Case Narrative

A member of DSI was appointed Chapter 11 Trustee for the individual debtor case of Dr. Arnold Klein. Dr. Klein is considered the father of modern cosmetic dermatology who helped develop the injection techniques for cosmetic use of Botox, Collagen and Restylane.

A Trustee was sought after more than a year had passed since the bankruptcy filing with little accomplished by the debtor-in-possession to satisfy creditor claims or make progress towards a plan of confirmation. The Trustee and DSI have been evaluating and targeting assets that can be orderly liquidated to pay creditor claims as well as attempting to work with the debtor on his complex litigation claims of embezzlement and fraud from former employees, banks, and accounting professionals. The case also involves complex insurance litigation created pre-petition by a home fire at the debtor’s main residence. Through DSI’s efforts, the litigation and depositions have commenced as well as the liquidation of various assets to move the case towards a confirmable plan.