In re: Clarent Corporation

Action No. 02-33504 TC
Appointment: Chapter 11 Trustee
Northern District of California - Judge Thomas E. Carlson
2003: Chapter 11 Trustee for Clarent Corporation a company in the business of developing software that enables users to receive voice, fax and data over the internet and other internet protocol ("IP") networks. The Trustee reduced claims from approximately $ 43.5 million to $ 19.5 million.
2004: Uecker & Associates, Inc. as Liquidating Trustee for the Clarent Liquidating Trust
settled malpractice litigation for $1,250,000, filed an action for return of $1 million retainer to the estate, and settled directors and officers litigation for $14 million plus. The first distribution to unsecured creditors was 91% of allowed claims. The second distribution paid the unsecured creditors in full with interest pending.