Girardi Keese is now a long-running Chapter 7 liquidation in which the active docket posture is claims administration and residual asset recovery rather than an operating restructuring, with recent activity centered on claim transfers to ASM Capital X LLC and related notice deadlines, including the transfer of Claim No. 308 from Jeremiah Gilbert in the Transfer of ClaimDkt. 2787. The case began on December 18, 2020, when petitioning creditors filed an involuntary Chapter 7 petition against the Los Angeles plaintiffs' firm, putting the estate into court-supervised liquidation rather than a debtor-led reorganization path through the Involuntary Chapter 7 PetitionDkt. 1.
The early case was shaped by control of cash and collateral rather than DIP financing. Trustee Elissa Miller sought authority to use cash collateral in February 2021 and again in June 2021, reflecting the need to administer estate assets while negotiating with secured creditors holding liens on the firm's receivables, equipment, and litigation-fee recoveries through the Cash Collateral MotionDkt. 179 and the Third Cash Collateral MotionDkt. 451. The estate's scheduled capital structure later showed roughly $28.6 million of identified secured or facility debt, including California Attorney Lending II, Stillwell Madison, Nano Banc, Law Finance Group, and equipment financing claims, with collateral concentrated in substantially all personal property, accounts receivable, payment intangibles, equipment, and litigation-fee proceeds under the .
The trustee also pursued litigation and settlement recoveries as a core liquidation strategy. Adversary proceedings targeted turnover, fraudulent transfer, declaratory, accounting, and related claims, including actions against Erika Girardi, Pretty Mess, Inc., EJ Global, LLC, and others through the Girardi adversary complaintDkt. 1 and additional turnover or recovery complaints filed in 2021. By 2023, the case had moved into compromise-driven administration of creditor disputes, including a Rule 9019 settlement motion with Virage SPV I LLC over Claim 77-1 tied to loans secured by litigation-fee interests in NFL, Porter Ranch, and other eligible collateral cases through the Virage compromise motionDkt. 1742.
Near term, the docket points to continued claims trading and administrative cleanup rather than a plan milestone. The May 13, 2026 BNC notices for transfers of Claims 94, 57, 576, 558, and 308 set 21-day objection periods from mailing, after which ASM Capital X LLC may be substituted as claimant without further order if no timely objection is filed, as reflected in the BNC notice for Claim 308Dkt. 2792. The most recent listed hearings were a March 31, 2026 claims and administration hearing and an April 23, 2026 asset-sale hearing, both shown as past unresolved in the case timeline, so the practical posture is a mature Chapter 7 estate continuing to monetize and reconcile claims rather than advancing toward confirmation or emergence.