The Case
Neligan LLP represented the Chapter 11 trustee, the Cayman liquidators and the SEC receiver in the InverWorld bankruptcy and receivership proceedings in San Antonio, Texas, one of the largest cases in San Antonio history. InverWorld was a broker/dealer and investment advisor that solicited over $300 million from primarily Latin American investors and suffered massive losses. Neligan LLP was hired by the receiver, the Chapter 11 trustee and the Cayman liquidators to assist with the confirmation of a bankruptcy plan, coordination with the Cayman and UK proceedings, the liquidation of the fund’s assets and prosecution of litigation claims against culpable third parties. Neligan LLP worked with the Department of Justice and the Criminal Division of the IRS that were simultaneously prosecuting certain of the upper management of InverWorld.