Management of Liquidating Corp.
- Claims Analysis and Distribution
- D&O Liability
- Fraudulent Conveyance
- Litigation Support
- Preference Analysis
- Wind Down Management
PAN AM WORLD AIRWAYS AND PAN AM LIQUIDATING CORP.
- Appointed to serve as CEO and President of Pan Am Liquidating Corp.
- Handled claims of 11,000 creditors, totaling $330 million for goods, services, leases and other bases
- Managed and defended litigation claims
As part of Pan Am World Airways’ reorganization plan, DSI was appointed CEO of Pan Am Liquidating Corp., an entity created to implement the plan and manage the affairs of the liquidating debtor. Among the duties incident to this engagement were the reconciliation, negotiation and settlement of many thousands of claims in the gross amount of $622 million; negotiation and resolution of numerous complex administrative and damage claims for leased aircraft, leased engines and property leases for various aviation facilities; collection of interline accounts receivable and travel agency receivables; administration of letters of credit; resolution of various insurance policy claims and refunds; and recovery of accounts in foreign countries. Numerous preferential and fraudulent transfer actions were initiated and DSI undertook the investigation, negotiation, litigation and settlement of numerous pending contractual, personal injury and other disputes, including those against third parties, officers and directors.