Global law firm K&L Gates LLP represented the Official Committee of Unsecured Creditors through trial in a bankruptcy case brought against Water Station Management, a water vending machine company.
A judge who oversaw the trial in the US Bankruptcy Court for the Eastern District of Washington found that Water Station Management operated as a Ponzi scheme, using the money it raised to pay earlier investors and creditors because it didn't have enough income to meet its liabilities. The court approved plans for the establishment of a creditors trust to pursue additional recoveries for creditors and to administer claims which provides an orderly process for victims to resolve their claims against the debtors and receive disbursements of the proceeds of future recoveries.
The K&L Gates trial team was led by Seattle partners John Bender and Mike Gearin with support from associates Michael Meredith, Madisyn Uekawa, Clara Virden, and Ben Woodruff.
"Judge Corbit's important ruling from the bench is attributable to the hard work of the members of the Official Committee who devoted their time and energies to protect the interests of the victims," said Bender. "Our work on behalf of Water Station's victims is not finished. We are committed to holding culpable parties accountable, identifying and recovering Water Station's stolen funds, and returning every cent we can to their rightful owners."
With lawyers in Asia, Australia, Europe, the Middle East, North America, and South America, K&L Gates' Litigation and Dispute Resolution practice is uniquely positioned to assist clients in resolving their disputes at the local, national, and international levels. The firm's litigators are some of the foremost practitioners in their field, with many ranked nationally and internationally and including fellows of the American College of Trial Lawyers, the American Law Institute, and the International Academy of Trial Lawyers, among others.