MOLITOR were retained in a matter referred to them by a leading US law firm. MOLITOR advised the client, who was in the oil refinery business, in the context of US litigation following its being put under Chapter 11. Some creditors, through a litigation trust, sued the company following the take-over by a wealthy Russian of a much larger company worth 20 billion dollars (so huge leverage) on the basis that previous valuations were far less per share. The companies were merged and, due to the size of the debt, collapsed. Some creditors received compensation but unsecured creditors sued everyone they could find, including the Luxembourg entity. The client approached MOLITOR after receiving unsatisfactory advice from another quarter.