Leonard Gumport has served as chapter 7 trustee, chapter 11 trustee, SIPC trustee, and bankruptcy examiner. He has also represented trustees in litigation and investigations.
Below are descriptions of several matters, which are not (and are not intended to be) representative of all matters handled by Mr. Gumport during 1979-2018. All matters described were handled by Mr. Gumport before the start of Gumport Law Firm, PC on November 1, 2018.
In pre-trial, trial, and post-judgment enforcement proceedings, Mr. Gumport represented the victim of a real estate fraud in obtaining a non-dischargeable judgment against the fraudster debtor.
Mr. Gumport advised management of a large Los Angeles firm of professionals concerning legal issues arising from the possible insolvency of the firm. The firm had sought Mr. Gumport’s advice to obtain insight into how a trustee or bankruptcy examiner might view various courses of action under consideration by the firm’s management.
Mr. Gumport served as bankruptcy examiner of Newedge, a California-based company that owned Edgington Oil Company, and was an affiliate of international arms dealer Adnan Khashoggi. After submitting an examiner’s report on the withdrawal of $89 million from Edgington by its affiliates, Mr. Gumport served as special counsel to the bankruptcy trustee of Triad America in asset freeze litigation against a Liechtenstein affiliate of Mr. Khashoggi. The asset freeze litigation resulted in the attachment of a $20 million asset of the Liechtenstein entity.
Mr. Gumport was bankruptcy trustee and counsel in affiliated bankruptcy cases involving an alleged scheme by the debtor’s principal to rig the sale of bankruptcy estate assets and to divert funds through off-shore accounts. A Ninth Circuit opinion arising out of that case is Gumport v. China International Trust and Investment Corp. (In re Intermagnetics America, Inc.), 926 F.2d 912 (9th Cir. 1991). Those affiliated bankruptcy cases included cooperation between the USA proceedings and related proceedings pending in the UK.
Mr. Gumport was bankruptcy counsel to the trustee of the consolidated bankruptcy estates of Bruce P. McNall and various of affiliates. McNall pleaded guilty to defrauding multiple banks of more than $100 million. In the McNall cases, Mr. Gumport represented the trustee in litigation to recover various allegedly voidable transfers, including a transfer of an ownership interest in the L.A. Kings hockey franchise.
Mr. Gumport has served as counsel in two sets of bankruptcy cases arising from defunct Ponzi-type schemes, both involving parallel criminal proceedings in which the debtors’ principals pleaded guilty to their frauds.
In the Transcon Lines bankruptcy case, Mr. Gumport served as trustee of a failed trucking company that collapsed following deregulation of the trucking industry and the looting of the company’s pension funds. The case involved more than 1,000 adversary proceedings.
In addition to having served as bankruptcy examiner in multiple cases, Mr. Gumport is the author of “The Bankruptcy Examiner,” 20 Cal. Bankr. J. 71 (1992) (reprinted in 13th Annual Bankruptcy Litigation Institute (Prentice Hall Law & Business 1993)).
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