Trustee's for Bankruptcy

January 1, 2014 5:04 PM

I understand that the trustees who are selected to handle large bankruptcies/recoveries are appointed by the court (Similar to Irving Picard, Trustee for Madoff recovery and James Giddens, Trustee for MF Global recovery). Is there a directory of potential attorneys/firms that they are selected from?
posted by pmaxwell to Law & Government (2 answers total)

It's not a directory, it's the old boys club of leading NYC bankruptcy attorneys. It's a small world, and practitioners are well known to each other and to the court.
posted by Admiral Haddock at 5:19 PM on January 1, 2014

Both your examples are SIPA liquidations. In these cases, SIPC designates the trustee.

If the court issues a protective decree under paragraph (1), such court shall forthwith appoint, as trustee for the liquidation of the business of the debtor and as attorney for the trustee, such persons as SIPC, in its sole discretion, specifies. The persons appointed as trustee and as attorney for the trustee may be associated with the same firm.
posted by payoto at 5:26 PM on January 1, 2014