Rochester Drug Cooperative

The firm was counsel to the official committee of unsecured creditors, and is currently representing the liquidation trustee, of drug distributor Rochester Drug Co-Operative. The debtor filed for bankruptcy protection in March 2020 after it was unable to pay money owed to the United States Department of Justice pursuant to a deferred prosecution agreement. The committee negotiated a liquidating plan that gave control of substantially all of the debtor’s assets to a liquidation trust. The liquidation trust has recovered funds through A/R collection, asset sales, and litigation. It also commenced an action alleging breaches of fiduciary duties against certain former directors and an officer of the company.