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Chapter 11 trustee Luc A. Despins asked to increase the estate-funded expense cap for the Mahwah Mansion by $1 million, from $2.2 million to $3.2 million, after expenditures exceeded the existing cap in June. The fourth mansion-funding motion says additional liquidity is needed for security, utilities, landscaping, repair of a collapsed bedroom ceiling and a $77,118.75 property-tax installment due August 1.
The mansion remains on the market through Compass, but the trustee is still seeking a buyer and negotiating sale terms. Authorized advances are intended to be repaid from sale proceeds; if the trustee loses the related ownership adversary proceeding, the estate asserts a secured reimbursement claim against Taurus Fund backed by the property. The request raises the estate’s cumulative carrying-cost exposure while monetization remains incomplete, making sale timing and net recovery increasingly consequential.
The court granted Eric Goldstein, Brian Remondino, and Roland Gary Jones leave to withdraw as counsel for Leicester Hill Informatics, LLC in both the jointly administered Chapter 11 cases and trustee Luc Despins’ related adversary proceeding. Under the counsel-withdrawal order, Leicester Hill must have successor counsel appear in the adversary proceeding by July 21, 2026; otherwise, Despins may seek a default judgment beginning July 22.
The departing lawyers previously attributed their request to repeated nonpayment, including more than $30,000 owed to Jones, and warned that the company cannot represent itself. The order requires service on Leicester Hill by 5:00 p.m. on July 20 and a certificate of service by July 21. The compressed timetable gives the trustee a near-term path toward default if Leicester Hill remains unrepresented, materially increasing leverage in the litigation.
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