New York Partner Stephanie Wickouski provided insight to Bloomberg Law on the case of Daniel Kamensky, who faces the prospect of becoming the first distressed debt investor in memory to receive a prison sentence for abusing his position as the head of a court-supervised bankruptcy committee. “No case in this century has riveted the attention of the restructuring community more than Daniel Kamensky’s arrest and prosecution,” Wickouski wrote in a recent article authored for Turnarounds & Workouts, which was quoted by Bloomberg Law.
In an interview, Wickouski further noted that the case is unique because bankruptcy professionals rarely are prosecuted for violating their fiduciary duty or committing some other technical offense. Mostly, lawyers are caught trying to hide assets, or destroying evidence as part of a broader fraud involving clients. “This one is much more complex,” Wickouski said.
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