FRAMINGHAM…. A plumbing supplier receives a letter from its customer’s counsel stating that he is going out of business. All creditors will have to drink from a small pool of money or get nothing at all. If the supplier agreed on the settlement, they would have received about 25 cents on the dollar. Instead, the supplier called me.
I immediately sued seeking ex parte attachments on the debtor’s bank accounts. I not only convinced the court to allow the bank attachments but also to allow the sheriff to serve the attachment multiple times on multiple banks of my choosing. Due to my aggressive actions, the bank attachment seized the entire amount of money that I sought. Facing threats of potential bankruptcy, I negotiated a return of 75 cents on the dollar for my client. 25% or 75%: You decide which settlement you would want. My client chose 75%!! Can you say KA-CHING?!!
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