The Girardi Keese bankruptcy trustee has settled with the last standing litigation lender that has a secured claim against the firm, freeing up funds for an estimated $322 million in unsecured creditors.
In a Tuesday filing, the trustee said she agreed to pay $1.2 million to Stillwell Madison, a lender that sued Tom Girardi’s firm in 2019 after he failed to pay back the full $5.1 million loan. Stillwell Madison, which had charged 24% annual interest on the loan, filed a secured claim for nearly $7.5 million against the bankruptcy estate.
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