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Bast Amron

Miami Business and Bankruptcy Litigation Law Firm

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ATTORNEYS FROM BAST AMRON LLP NEGOTIATE $14MM PRE-SUIT SETTLEMENT WITH FORMER DIRECTORS AND OFFICERS OF WIRELESS ADVOCATES, LLC

ATTORNEYS FROM BAST AMRON LLP NEGOTIATE $14MM PRE-SUIT SETTLEMENT WITH FORMER DIRECTORS AND OFFICERS OF WIRELESS ADVOCATES, LLC

September 11, 2024 by Maylynn

September 11th, 2024 - Posted in Brett M. Amron, Dain A. De Souza, Hunter Grasso, In The News

MIAMI, FL– September 11, 2024, A Bast Amron team consisting of partners Brett M. Amron and Dain de Souza, attorneys Hunter Grasso and Tanisha Wright, and paralegal Jorge Miranda served as Special Litigation Counsel to Virginia Burdette, Chapter 7 Trustee (“Trustee”) of the bankruptcy estate of Wireless Advocates, LLC (“Wireless Advocates”). In close collaboration with co-counsel at K&L Gates LLP, including Michael Gearin, Peter Talevich, and Tyler Lichter, Bast Amron negotiated a $14 million settlement with Daniel Brettler, the former CEO and Chairman of Wireless Advocates, certain of its other former directors and officers, and its majority member, Car Toys, Inc.  The settlement fully and finally resolved the Trustee’s claims against Mr. Brettler and the former D&Os of Wireless Advocates in connection with alleged breaches of their fiduciary duties and reduced Mr. Brettler’s secured claim against the Estate.

Brett Amron stated, “The settlement allows for a recovery of $14MM to the Estate and its creditors, and a significant reduction of an allowed secured claim. This fantastic result is the product of Bast Amron’s thorough investigation of the claims and preparation of the case for trial even prior to the commencement of litigation. I am proud of the Bast Amron team and appreciative of the opportunity to represent the Trustee and work alongside co-counsel at K&L Gates.”

In October and November of 2023, Bast Amron served a draft complaint and demand, asserting claims against Brettler and the other directors and officers for breaches of their fiduciary duties, and against Car Toys for aiding and abetting Brettler and the other directors and officers’ breaches of their duties. Bast Amron engaged in an extensive pre-suit investigation and exchange of discovery with the other parties, culminating in a formal mediation on May 7, 2024, with the Honorable John P. Erlick (Ret.) serving as mediator. As a result of the mediation, the parties entered into a formal settlement agreement, which was approved by the Honorable Timothy W. Dore of the Bankruptcy Court for the Western District of Washington on August 7, 2024.

This tremendous result arrives on the heels of other significant case resolutions within the past year, including (i) a $22.7 million dollar settlement negotiated by Bast Amron as Special Litigation Counsel to the Modell’s Sporting Goods, Inc. (“MSGI”) Liquidation Trust (attorneys: Brett M. Amron, Peter J. Klock, II, and Alejandra Iglesia) and (ii) a $15.5 million settlement negotiated by Bast Amron as Special Litigation Counsel to the Assignee (Mark C. Healy) for the benefit of creditors of Crystal Cruises, LLC and certain present or former affiliates (attorneys: Brett M. Amron, Dain de Souza, Jaime Leggett, and Hunter J. Grasso).

 

MIAMI, FL– September 11, 2024, A Bast Amron team consisting of partners Brett M. Amron and Dain de Souza, attorneys Hunter Grasso and Tanisha Wright, and paralegal Jorge Miranda served as Special Litigation Counsel to Virginia Burdette, Chapter 7 Trustee (“Trustee”) of the bankruptcy estate of Wireless Advocates, LLC (“Wireless Advocates”). In close collaboration with co-counsel at K&L Gates LLP, including Michael Gearin, Peter Talevich, and Tyler Lichter, Bast Amron negotiated a $14 million settlement with Daniel Brettler, the former CEO and Chairman of Wireless Advocates, certain of its other former directors and officers, and its majority member, Car Toys, Inc.  The settlement fully and finally resolved the Trustee’s claims against Mr. Brettler and the former D&Os of Wireless Advocates in connection with alleged breaches of their fiduciary duties and reduced Mr. Brettler’s secured claim against the Estate.

Brett Amron stated, “The settlement allows for a recovery of $14MM to the Estate and its creditors, and a significant reduction of an allowed secured claim. This fantastic result is the product of Bast Amron’s thorough investigation of the claims and preparation of the case for trial even prior to the commencement of litigation. I am proud of the Bast Amron team and appreciative of the opportunity to represent the Trustee and work alongside co-counsel at K&L Gates.”

In October and November of 2023, Bast Amron served a draft complaint and demand, asserting claims against Brettler and the other directors and officers for breaches of their fiduciary duties, and against Car Toys for aiding and abetting Brettler and the other directors and officers’ breaches of their duties. Bast Amron engaged in an extensive pre-suit investigation and exchange of discovery with the other parties, culminating in a formal mediation on May 7, 2024, with the Honorable John P. Erlick (Ret.) serving as mediator. As a result of the mediation, the parties entered into a formal settlement agreement, which was approved by the Honorable Timothy W. Dore of the Bankruptcy Court for the Western District of Washington on August 7, 2024.

This tremendous result arrives on the heels of other significant case resolutions within the past year, including (i) a $22.7 million dollar settlement negotiated by Bast Amron as Special Litigation Counsel to the Modell’s Sporting Goods, Inc. (“MSGI”) Liquidation Trust (attorneys: Brett M. Amron, Peter J. Klock, II, and Alejandra Iglesia) and (ii) a $15.5 million settlement negotiated by Bast Amron as Special Litigation Counsel to the Assignee (Mark C. Healy) for the benefit of creditors of Crystal Cruises, LLC and certain present or former affiliates (attorneys: Brett M. Amron, Dain de Souza, Jaime Leggett, and Hunter J. Grasso).

 

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Maylynn Menoud  | Marketing Director
T: (305) 379-7904 | D: (305) 357-4794
mmenoud@bastamron.com

BAST AMRON is a boutique law firm focused on business insolvency and litigation. Our insolvency practice emphasizes workouts, restructurings, liquidations, bankruptcy, and bankruptcy avoidance. We represent debtors, creditors, committees, trustees, and other fiduciaries in bankruptcies, receiverships, and assignments for the benefit of creditors. Our litigation practice is primarily plaintiff oriented. We know how to investigate, formulate and prosecute claims arising from business disputes. By combining our business insolvency knowledge with our extensive courtroom experience, we successfully guide our clients through all aspects and types of commercial litigation in state and federal courts across the country. Whether the issue is litigation or insolvency or both, we view our clients’ needs through a holistic lens to formulate and implement dynamic solutions to their most important challenges.

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