CERTIFIED PUBLIC ACCOUNTANTS
 
FRAUD EXAMINERS  
 
RESTRUCTURING ADVISORS

 

Creditor

Christopher J.Tigani

Christopher J. Tigani, a liquor distributor executive in Wilmington DE, filed for Chapter 11 bankruptcy protection on June 8, 2010, which later converted to Chapter 7 on November 29, 2010. At the time of the filing, Mr. Tigani disclosed assets totaling approximately $42 million, primarily comprised of a real property, including 53% ownership interest in NKS Distributors, Inc.

PERSONAL RESIDENCE:

Assets of Mr. Tigani include personal residence at 1111 Berkeley Road, in Wilmington DE, which he estimated were valued at $5,950,000. Significant judgments were granted against this property, that significantly exceeded the potential recovery. This property was eventually abandoned.

OTHER REAL ESTATE:

Mr. Tigani was also the sole owner of My Pal, LLC, which owned a warehouse building in New Castle, DE. The Trustee filed a motion to have the warehouse included as property of the bankruptcy estate. An order extending the proceedings to the warehouse was entered. The Trustee then negotiated a sale of the building while also resolving pending litigation with NKS. Total proceeds from the sale of property were $12,166,440.87.

PROFESSIONAL FEES - OUTSTANDING ORDERS:

Pachulski Stang Ziehl & Jones, LLP

Docket #337 - $61,622.55