Special Counsel to Receivers and Trustees

A Receiver is legally appointed to act as the custodian of a company's assets or business operations. A Receiver is empowered on behalf of the receivership estate to recover assets for the benefit of defrauded investors, victims, and creditors. In his or her capacity as a Receiver, a Receiver often retains special counsel assist him or her in conducting investigations or prosecuting claims and recovering damages on behalf of investors, victims, and creditors. Similarly, a trustee is an individual appointed to represent a debtor's estate in a bankruptcy proceeding to administer the estate. Like a Receiver, a trustee often retains special counsel to represent or assist the trustee in carrying out the trustee's duties in investigating and prosecuting claims on behalf of the estate and its creditors.

Lax & Neville has served as special counsel to court-appointed Receivers and Trustees. As special counsel, Lax & Neville takes an active role in enforcing all the legal and equitable rights and remedies available to investors, victims, creditors and the estate in receivership and bankruptcy actions.

On September 18, 2017, Lax & Neville was appointed by court order as special securities litigation counsel for court-appointed Receiver, Richard W. Barry, in an action commenced by the Attorney General of New Jersey on behalf of the Chief of the New Jersey Bureau of Securities. The action alleged securities fraud in the sale of securities, as well as other violations of the New Jersey Uniform Securities Laws, by defendants Osiris Fund Limited Partnership (a hedge fund), Peter Zuck, and others. State of New Jersey, et al. v. Peter Zuck, et al., Docket No.: HDU-C-125-12. Lax & Neville initiated a FINRA arbitration proceeding, on behalf of the Receiver Richard Barry, against the defendants and was successful in opposing an Order to Show Cause filed the defendants seeking injunctive relief restraining the Receiver Richard Barry from pursuing claims brought against them in the pending FINRA arbitration proceeding.

On January 20, 2021, Lax & Neville was appointed by a U.S. Bankruptcy Court order as Special Litigation Counsel for Don A. Beskrone, Chapter 7 Trustee of Rosetta Genomic, Inc, to represent the Trustee in the investigation and prosecution of certain potential D&O insurance policy, commercial law or other claims, including breach of fiduciary duty, gross negligence and fraud, on behalf of the bankruptcy estate and its creditors. In re: Rosetta Genomic, Inc., Case No. 18-11316.

Lax & Neville has specialized skill, knowledge and experience in securities law and arbitration. Our attorneys have the practical and legal experience needed to handle the unique challenges of being special counsel to Receivers and Trustees. Please contact Lax & Neville LLP for a consultation.

Client Reviews
The Lax & Neville team were total professionals in handling our case. They've clearly had quite a bit of experience handling complex legal matters in many jurisdictions and courts. I was impressed with their professionalism coupled with persistence in arguing a very complete and well-structured case. I highly recommend their services. Anonymous
I am very, very happy with the outcome of my case and my experience with Lax Neville could not have been better. The entire team of attorneys and staff are real professionals, they always had time to answer my many questions about my case. I was treated with compassion and respect. I am so grateful I chose to work with Lax Neville. Anonymous
This is an official " thank you" for all your hard work. It really was a pleasure to have you represent me, and I enjoyed seeing you, Rush and Sandra in action. I think Lax and Neville epitomizes the phrase "quality vs quantity". I think I told you before that I spent a lot of time researching firms; in this case things worked out, I picked the best firm. I hope I never need your services in the future, but if I do I know I found the best attorneys for these types of legal issues. Anonymous
What transpired at the [redacted] was nothing less than a truly masterful and exceptional experience regarding your intelligence, professionalism, preparedness for my case, teamwork and erudite knowledge pertaining to Securities Law, FINRA and the SEC. The facility and ease of how the case was handled, the systematic questioning of all the witnesses to obtain the facts necessary to prove our case, the preparation of the critically conclusive information and documents, the commanding coup de gras closing argument and your tireless consideration and respect for the Panel and [redacted] was, is and will continue to epitomize my feelings and conclusion that what transpired over those long three days was nothing less than raw and unabashed brilliance. Anonymous
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