Berger Singerman drafted an 18 count complaint against the Cubera Parties and other third parties, asserting claims for breach of fiduciary duties, conspiracy to breach fiduciary duties, avoidance of post-petition transfers, avoidance of constructive and actual fraudulent transfers, conversion and unjust enrichment.
In an effort to achieve maximum results and minimize further risk and expenses to the Estate, the Trustee and the Cubera Parties engaged in pre-suit settlement discussions over the course of several months in an effort to globally resolve all Claims. The Trustee and the Cubera Parties agree that settling the Claims are in their and the Estate’s best interests.
The Cubera Parties shall pay the total sum of $1,000,000.00 (the “Settlement Amount”), which amount includes the Deposit (defined below), to the Trustee by wire transfer to the Trustee’s bank account within three (3) business days after entry of a final, non-appealable order of this Court granting this Motion (the “Settlement Approval Order”).
