In the latest twist of the Guo Chapter 11 NY Law Firm saga, the court-appointed trustee for Chinese exile Miles Guo’s bankruptcy estate has secured a settlement that recovers $70,000 from a New York immigration firm, court filings revealed.
The settlement, representing a 61% recovery on the $115,600 originally sought, was disclosed Friday by trustee Luc A. Despins. The deal emerged after U.S. Bankruptcy Judge Julie A. Manning authorized him to keep the terms hidden for 180 days, citing the need to avoid influencing other ongoing adversary proceedings.
Allegations Against the Firm
Despins alleged that Wildes & Weinberg PC unlawfully received postpetition transfers from Golden Spring (New York) Ltd., which he described as one of Guo’s alter egos. According to the trustee, the transfers were made without bankruptcy court approval and lacked any legitimate basis under federal bankruptcy law.
This settlement mirrors several other clawback deals Despins has quietly struck, many of which remain sealed for half a year to protect parallel negotiations.
