U.S. Bankruptcy Judge Raymond Ray has approved a settlement between Russell Adler, a former partner on the nameplate at Rothstein Rosenfeldt Adler, and the bankruptcy trustee in the defunct law firm’s case.
The settlement calls for Adler to pay the bankruptcy estate either $350,000 within 30 months or $500,000 afterward. The required payment, which represents the liquid assets — including a $90,000 IRA account — of Adler and his wife, Katie, cannot be discharged in any potential personal bankruptcy case.
