William Russ



William Russ has more than 30 years experience in bankruptcy, Debtors-in-Possessions, Creditor’s Committees, and Court-Appointed Receiverships, with particular success in assisting reorganization and emergence from bankruptcy, management and reconstruction of Debtor’s business operations and financial affairs, and liquidation and valuation analysis.


  • In the Amir Shokrian and the Amilex Property and Finance cases, he organized a joint venture arrangement, with Bankruptcy Court approval, for the construction of a building in Beverly Hills, California that provided the mechanism to reorganize the two debtors and for a third entity to convert its Chapter 7 case to one under Chapter 11. As a result, the claims of a financial institution, the general contractor and sub-contractors between themselves and the debtor were resolved.
  • In the Robert Gary Nelms case, he had the operational responsibility of collecting a real estate portfolio of mortgage loans where the mortgage company was itself in bankruptcy and some of the borrowers elected bankruptcy as an alternative while the lenders were pursuing litigation against the Bankruptcy Trustee in Bankruptcy Court. Although the Department of Justice did not pursue criminal complaints against principals of this case because of the complexity of explaining it to a jury, the fraud scheme involved the funding of fractionalized notes and deeds of trust on property the debtor sold through real estate agents of its company.
  • Although the Co-Petro Marketing Group case was primarily centered upon defrauded investors by the use of futures of “Cash Forward Delivery Contracts,” he reconstructed many evidentiary elements of this scheme by piecing together at least 15 bank accounts with information from deposit slips, fragmentary investor receipts, bank statements, contracts and checks. He acted as a witness against the principals in a criminal trial and the results of his investigation led to the trustee obtaining a civil judgment against them in Bankruptcy Court. During this case, he managed and sold assets of this case.
  • In the Wolfe and Vine case, he analyzed the various components of a secured creditor’s preference action in which the trustee ultimately prevailed.
  • In the C&C Boats, Inc. matter, he negotiated many of the secured loans directly with the lenders or their attorneys on behalf of the debtor in preparation for the debtor filing a Plan of Arrangement and emerging from bankruptcy.
  • In the Certified Appliance Distributor, Inc. case, he became involved as the managing consultant for the debtor to wind down the business operations in an orderly fashion, paying the secured creditor in full and proceeding to liquidate the balance of the assets for distribution to creditors. Ultimately, he became a co-trustee with the chairman of the creditor’s committee under a liquidating trust arrangement approved by the court to process claims and make distributions to creditors.
  • The Southland cases included three corporations. Each one was in Receivership. One of them was a member and managing member of 20 limited liability companies who owned real estate developments, some of which were in their own Chapter 11 proceeding or flirted with the possibility of having to file under Chapter 11. As the representative of the managing member, he managed and sold the available assets of the limited liability companies. Many of them had disputes with creditor or other members. One creditor, a city, pursued a fraud claim that had the backdrop of the recall of elected officials and the conviction of several individuals. The types of developments ranged from vacant land, construction in progress, multiple residential, mixed-use and shopping centers. He provided forensic analyses and litigation support for countless transactions through many years between the corporations and the limited liability companies.
  • The Grand Wilshire or Grand group of cases involved his management of more than 30 car dealerships, the liquidation and servicing of more than 25,000 automobile contracts, the liquidation of more than 3,000 vehicles, the repossession of assets, the tracing of funds, the analysis of countless fraud schemes plus transactions within those schemes and the analysis of perfected security interests to determine which creditor, if any, had secure claims and to determine the priority of interests between creditors.

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