Jelena McWilliams Appointed Chapter 11 Trustee for Synapse Financial Technologies, Inc. in U.S. Bankruptcy Court

Cravath partner Jelena McWilliams has been appointed as the chapter 11 trustee in the bankruptcy case of Synapse Financial Technologies, Inc. by the United States Trustee for the U.S. Bankruptcy Court for the Central District of California. The appointment was made on May 24, 2024.

During a hearing regarding the appointment, Judge Martin Barash emphasized the importance of reconciling ledgers and returning money to depositors as the immediate goal for the trustee. The court order directs the trustee to engage with parties involved in the case, including financial technology platforms, partner financial institutions, and the Debtor’s secured lenders, to facilitate the return of funds to rightful owners as swiftly as possible.

The process of meeting and conferring with the relevant constituents is currently underway. Notification of the trustee’s appointment and the court order can be found through the provided links. Parties with inquiries pertaining to the case can contact the trustee at SynapseTrustee@cravath.com.