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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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My company filed Chapter 7 but it has not been discharged because

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My company filed Chapter 7 but it has not been discharged because of a pending lawsuit that my company is involved in. My firm is the plaintiff. Can any party, associated or not associated, with the suit offer to buy the lawsuit from the Trustee? The issue is the Trustee may not care about the full value of the potential of the suit which is currently 5+ years old and paying the Trustee what he is requesting may allow the suit to go forward without the Trustee hindering the outcome.

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

cfortunato :

Yes - in general, any party can buy from the Bankruptcy trustee the right to receive the proceeds from the lawsuit.

cfortunato :

The party can - but does not have to be - associated with the lawsuit.

cfortunato and other Bankruptcy Law Specialists are ready to help you