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Practices and Industries
Bankruptcy & Restructuring



Industry Expertise:


Related Practices:

Bankruptcy & Restructuring

Matters

Hedge Funds/Financial Institutions/Private Equity

  • Representation of Capital One in various consumer bankruptcy litigation cases of potential national significance
  • Representation of Delta Financial Corp. and its subprime lender and REIT subsidiaries as Chapter 11 debtors
  • Representation of the Official Committee of Unsecured Creditors in the HomeBanc Mortgage Corp. Chapter 11 case.
  • Representation of Sphinx Funds Ltd. in their Chapter 15 cases related to the funds’ Cayman liquidator proceedings and as a significant creditor in the Refco cases
  • Representation of significant creditor in Cayman liquidations and Chapter 15 cases of Bear Stearns High-Grade Structured Credit Strategies Master Fund, Ltd. and Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund, Ltd.
  • Representation of international secured lender against Enron for $500 million
  • Representation of domestic and international financial institutions for debt and credit derivative trading
  • Representation of indenture trustees and bondholder committees in restructurings of publicly traded bonds
  • Representation of foreign banking authority in setting up U.S. banking operations to work effectively given applicable bankruptcy and banking laws
  • Representation of funds in buying distressed assets in and out of bankruptcy, including through strategic purchase of claims and creditor plans of reorganization, including three separate real estate projects for Pacific Coast Capital, two projects for Stone & Youngberg, and one project for Rio Mesa Partners
  • Representation of financial institutions concerned with counter-party risk and litigation contagion from at-risk hedge funds, including heavy sellers of CDS “insurance” and those who made regrettable bets of now-suspect assets (e.g., CDOs, CLOs, SIVs, etc.)
  • Representation of a major international bank in acquiring out of Chapter 11 DVI, Inc.’s European healthcare loan portfolio
  • Representation of several defendants in Enron’s billion-dollar preference and fraudulent conveyance action arising out of Enron’s sale of commercial paper
  • Representation of European private equity fund in bid for Ridgeway Business Center Corporation, as part of a prepackaged Chapter 11 process designed to minimize liabilities assumed by the buyer
  • Representation of bank lenders for syndicate loans in the Owens Corning bankruptcy case
  • Representation of bank lenders for loans made to Parmalat Brazil and Venezuela
  • Representation of banks in connection with massive fraud allegations in the Adelphia Communications, Inc. bankruptcy cases
  • Representation of liquidators of multinational hedge funds Inverworld and IWG Services, in both U.S. and Cayman insolvency proceedings, which included implementing exchange offers for publicly traded bond and depositary receipts and developing a multijurisdictional creditor claims protocol

Airline/Aviation

  • Representation of the Official Committee of Unsecured Creditors in the Northwest Airlines Corp. Chapter 11 case
  • Representation of the Official Committees of Unsecured Creditors in the US Airways, Inc. (I and II) Chapter 11 cases
  • Representation of the Official Committee of Unsecured Creditors in the FLYi Inc./Independence Air Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Hawaiian Airlines Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Aloha Airlines Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Gemini Air Cargo Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Kitty Hawk, Inc. Chapter 11 case
  • Representation of Ad Hoc Committee of Creditors in the ATA Airlines Chapter 11 case
  • Representation of a German bank as agent and collateral trustee in the successful restructuring of over $200 million in aircraft financings to United Airlines

Telecommunications

  • Representation of Atlantic Tel-Network, Inc., a public telecommunications company, in the acquisition of operating assets including voice, video, and broadband data services, out of the Chapter 11 bankruptcy case of Empire State Independent Networks, LLC.
  • Representation of Tricom, S.A. and its affiliated debtors in their Chapter 11 cases
  • Representation of Verio and other defendants in substantial preference actions where the nature of the business and business relationships was central to the defense
  • Representation of the Official Committee of Unsecured Creditors in the Amp’d Mobile Chapter 11 case
  • Representation of GLT (the Genuity Liquidating Trust) representing the trustee in various avoidance actions, including one for $50 million
  • Representation of a potential bidder/purchaser pursuant to a plan of reorganization of telecommunication assets of a regional telecommunications provider
  • Representation of major Dominican telecom company in cross-border restructuring involving over $750 million in public bonds, borrowed money, and trade debt
  • Representation of telecom equipment vendors as claimants in major Chapter 11 cases and cross-border proceedings, including Global Crossing, Star Telecom, WorldCom, Genuity, Inc., 360networks, Viatel, Comdisco, RSL, Teleglobe, PG&E, Metromedia Fiber Network, Telscape, and Telereunion de Mexico
  • Representation of a telecom equipment vendor as defendant in a $100 million preference action in the 360networks Chapter 11 case
  • Representation of venture capitalist investors and others as creditors and as sponsors of buyers of assets through plans of reorganization, section 363 sales ABCs, foreclosures, and other technologies, including, for example, Yipes Communications Group for Norwest Venture Partners
  • Representation of bidders for distressed telecommunication assets, such as in the Winstar and e.spire Chapter 11 cases
  • Representation of lender to a leading telecommunication equipment manufacturer, as well as a pioneering telecom company, in a restructuring of secured loans out of court
  • Representation of an Indonesian telecommunications company in pending restructuring of bond debt exceeding $500 million out of court
  • Representation of Deutsche Telekom in connection with the 360networks bankruptcy cases
  • Representation of Onse Telecom in securing the first U.S. Bankruptcy Court judgment deferring to Korean rehabilitation proceedings
  • Representation of NTT as equity holder and director in the Teligent bankruptcy case
  • Representation of Net2000 in connection with the potential purchase of NETTel
  • Representation of Siemens Telecom Networks, provider of both pre- and post-petition secured financing to Pocket Communications, the second-largest bidder in the personal communications services (“PCS”) C-Block spectrum auction conducted by the FCC in 1967-1997 and the first to file for bankruptcy

Retail

  • Representation of the Official Committee of Unsecured Creditors in the AmeriKing Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Buehler Foods Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Drug Emporium Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Fortunoff Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Grand Union Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Kiel Brothers Oil Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Hechinger Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Icing, Inc. Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Midland Foods Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Oneida, Ltd. Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Phar-Mor Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the R.H. Macy’s & Co. Chapter 11 case
  • Representation of the chairperson of the Official Committee of Unsecured Creditors in the Scholtzsky’s Deli Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Synder’s Drug Stores Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Storehouse Furniture Chapter 11 case
  • Representation of the chairperson of the Official Committee of Unsecured Creditors in the Sybra Corp. Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Tweeter Home Entertainment Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Tyringham Jewelers Chapter 11 case
  • Representation of the Official Committee of Unsecured Creditors in the Venture Stores Chapter 11 case

Technology

  • Representation of Applied Graphics Technologies in the acquisition of the graphics design/production business of Star Graphics in Northern California
  • Representation of Craig McCaw and Eagle River Investments in its acquisition of ICO Global Holdings from bankruptcy for $1.2 billion
  • Representation of Creative Technology Ltd. in the acquisition of assets from Aureal Semiconductor, Inc. from bankruptcy
  • Representation of Russian technology investors in the acquisition of technology in a Chapter 11 auction by Constellation Communications, Inc.
  • Representation of Lehman Brothers/American Express as a secured creditor in the restructuring of the secured debt of Computervision
  • Representation of Marubeni in the restructuring of Pacific Crossing Limited and Global Access Limited, its trans-Pacific submarine and Japanese terrestrial fiber-optic cable joint ventures with Asia Global Crossing
  • Representation of the Chapter 11 trustee of Napster, Inc., a pioneering file-sharing service
  • Representation of Novell Inc. in the Chapter 11 cases of SCO, Inc. and SCO Operations, Inc., which filed bankruptcy as a result of Novell’s success in bitterly fought litigation against them of national importance to UNIX software users
  • Representation of Seagate Technology and Hitachi Global Storage in Chapter 7 liquidation of Reed-Rite Corporation both with respect to the bidding and in the subsequent litigation over the section 365(n)(1)(B) election and other matters
  • Representation of Teleglobe in connection with the potential purchase of the assets of GST, Inc.
  • Representation of Verio Inc. in its acquisition of substantially all of the assets of Utenzi Corporation from bankruptcy
  • Representation of Wang Laboratories, the maker of the Wang word-processing systems, in its Chapter 11 reorganization case
  • Representation of key venture capital sponsors or their portfolio companies in the liquidation and/or restarts of hundreds of technology companies of all types
  • Representation of Sherwood Partners and other assignees for the benefit of creditors in the liquidation or other resolution of various technology companies, as well as corporations in other industries
  • Representation of Wells Fargo Bank, as secured creditor in the Key 3 Media Chapter 11 case
  • Representation of Yahoo! in comprehensive global strategies and implementation tasks relating to the defense and enforcement of key contracts and IP exposed in cross-border insolvency cases, both pending and future
  • Representation of Yipes Communications Group, Inc. in its acquisition of substantially all of the assets of BroadBand Office, Inc. from bankruptcy, then Yipes’s restart through a section 363 sale for a Norwest Venture Partners–sponsored buyer
  • Representation of three Israeli cable TV operators (Matav, Tevel, and Golden Channels) in the Chapter 11 case of Channelmatic, Inc., a maker of software for insert announcements and commercials in cable television programs
  • Representation of a pre-petition unsecured creditor and potential purchaser of Formus Communications

Energy and Natural Resources/Cleantech

  • Representation of bidders and acquirers of assets in distressed environments and Chapter 11 bankruptcies such as DVI, Inc. (healthcare finance), Erie Forge & Steel Co. (metals), Kaiser Aluminum (metals), Constellation 3D, Inc. (technology), e.spire, Inc. (telecommunications), and Winstar (telecommunications)
  • Representation of the largest metal importer in China in opposing an attempt by Kaiser Aluminum to reject a multiyear alumina supply contract
  • Representation of a publicly traded Chinese company in acquiring and disposing of a distressed metals refinery business in the U.S.
  • Representation of indenture trustees in Bethlehem Steel and LTV Steel Chapter 11 cases and in out-of-court workouts for defaulted bonds
  • Representation in a debt restructuring of a major ethanol producer with four separately financed plants and other technology spinoffs
  • Representation of major creditors and municipal utilities in the Chapter 11 case of Pacific Gas & Electric Company, including subcommittees of the Creditors Committee of which a client was a member
  • Representation of the debt in the Mirant Chapter 11 case as to the spinoff of certain power plants and the settlement of billions of dollars of disputed claims relating to the California energy crisis
  • Advice to multiple clients regarding strategic responses to the California deregulation failure and energy crisis
  • Representation of the board of directors of a multinational energy company in the out-of-court restructuring of subsidiaries
  • Representation of a global financial institution with $600 million in pre-petition secured claims, and also a DIP lender and exit financier of EOTT Energy Corp.
  • Representation of Avista Corp. and Avista Energy, Inc., as significant energy trading counterparties in the Chapter 11 cases of Enron Corp. and its affiliates
  • Representation of Avista Corp. and Avista Energy, Inc., as significant energy trading counterparties in the Chapter 11 cases of Mirant Corp. and its affiliates
  • Representation of Consolidated Hydro, Inc., the nation’s largest independent hydroelectric company, in its prepackaged Chapter 11 case
  • Representation of Credit Suisse First Boston as secured debtor-in-possession lender in the NorthWestern Corp. Chapter 11 cases

Insurance and Reinsurance

  • Representation of major multinational insurance and reinsurance conglomerate with substantial interest in major domestic and cross-border insurance insolvencies, including in The Home Insurance Company liquidation pending in New Hampshire and the U.K., and the Integrity Insurance Company liquidation pending in New Jersey
  • Representation of foreign insurance companies and their creditors in Chapter 15 proceedings designed to implement schemes of arrangement and Part VII transfers under English and Commonwealth jurisdiction laws, and in related dealings with state insurance commissioners

Automotive and Other Transportation

  • Representation of large automotive supplier against Collins and Aikman
  • Representation of a European telecom service provider against Budget Rent-A-Car and its international affiliates
  • Representation of domestic and foreign suppliers to Delphi Corporation, as well as a Delphi DIP lender
  • Representation of Sumitomo Corporation as a secured creditor in the Chapter 11 case of Golden Ocean Group Limited, the owner of one of the world’s largest modern fleets of VLCCs (very large crude carriers) and dry-bulk carriers

Real Estate and Development

  • Representation of the Committee of Unsecured Creditors in the Chapter 11 case of leading California homebuilder Dunmore Homes, including joining in a successful motion to transfer venue from the Southern District of New York to the Eastern District of California
  • Representation of Bankers Trust in connection with the restructuring of Mystic Center Associates, a Massachusetts joint venture
  • Representation of Bear Stearns in connection with a loan secured by two buildings located in New York City owned by Unitel Video, Inc., which itself was the subject of a Chapter 11 case
  • Representation of The Equitable Life Assurance Society of the United States as secured lender in connection with the Chapter 11 case of the high-rise Figueroa Plaza office building located in downtown Los Angeles. Chapter 11 plan approved by the Bankruptcy Court, which resulted in purchase of building and substantial new capital investment
  • Representation of E-M New York Properties, L.P., the owner of three office buildings in New York City, in its prepackaged Chapter 11 case
  • Representation of Leucadia National Corp. as secured creditors in the Chapter 11 cases of North Capitol Limited Partnership and Square 675 Limited Partnership, the owners of two adjacent office buildings in Washington, D.C. Through Chapter 11 plans of reorganization, Leucadia became the owner of both buildings in exchange for certain of its debt holdings in the debtors
  • Representation of New York University in connection with its acquisition of a supermarket and air rights from the Chapter 11 case of The Grand Union Companies
  • Representation of Olympia & York (n/k/a Brookfield Properties) in connection with the restructuring, both inside and outside Bankruptcy Court, of approximately $18 billion of debt on commercial office buildings in the United States, Canada, and the U.K.
  • Representation of Pacific Coast Capital Partners in In re Merchant Land Co. and in In re Property Development Group, where creditor plans of reorganization became the means for acquisition of the properties
  • Representation of Stone & Youngberg and affiliates in projects to acquire distressed municipal bonds and to use such bonds to acquire various real estate projects
  • Representation of Stone & Youngberg in the deposition of special-purpose entities in Chapter 11 cases designed to finesse co-equal property tax liens competing with Mello-Roos bonds
  • Representation of The Teachers Insurance and Annuity Association of America in connection with a loan secured by an office building located in Oakland, California, owned by Bramalea Ltd., which itself was the subject of a Canadian insolvency. Consensual resolution approved by Canadian and United States courts
  • Representation of commercial landlords such as Brookfield Properties, in a variety of Chapter 11 cases, including HQ Global, United Artists, Regus PLC, Ray & Berndtson, Ames Department Stores, and Bradlees Stores, among others
  • Representation of Wells Fargo Bank in many real estate workouts and bankruptcies of all types, as well as in agribusiness financings

Other Representative Non-Confidential Matters

Operating Companies

  • Representation of American General Finance Corporation as a secured and unsecured creditor in the Chapter 11 cases of ContiMortgage Corp. and ContiFinancial Corp., subprime mortgage lenders
  • Representation of Fortress Credit Corp. as debtor-in-possession lender in the Chapter 11 case of Summit Global Logistics, Inc.
  • Representation of Bear Stearns Funding, Inc. as the largest secured creditor in the Chapter 11 case of Unitel Video, Inc., the owner of both studio and mobile video businesses
  • Representation of the owners of Brookland Financial Corporation, one of the largest originators and securitizers of subprime automobile contracts in the U.S., in its restructuring and eventual out-of court liquidation
  • Representation of Capital One in Kerney v. Capital One Financial Corp. (In re Sims), 278 B.R. 457 (Bankr. E.D. Tenn. 2002). In this case, the Bankruptcy Court for the Eastern District of Tennessee narrowed the scope of a class action brought by Chapter 13 debtors and the standing Chapter 13 trustee against our client, Capital One Financial Corporation
  • Representation of CESC (f/k/a Calcutta Electricity Supply Corporation) in connection with a US$750 million debt restructuring involving onshore and cross-border credit facilities
  • Representation of Fine Host Corporation, one of the nation’s largest food-service providers, in its prepackaged Chapter 11 case
  • Representation of First Nationwide Mortgage Corporation in Cline v. First Nationwide Mortgage Corp. (In re Cline), 282 B.R. 686 (W.D. Wash. 2002). In this case, the United States District Court for the Western District of Washington overturned a Bankruptcy Court decision that the Bankruptcy Court had subject matter jurisdiction over a class action brought by Chapter 7 debtors against our client, First Nationwide Mortgage Corporation
  • Representation of General Electric Capital Corp. as a debtor-in-possession financier and secured creditor in the Chapter 11 case of Recycling Industries, Inc., a scrap-metal recycling company
  • Representation of J.P. Morgan Chase & Co. as a secured creditor in the Chapter 11 case of Fas Mart Convenience Stores, Inc., a regional gas and convenience store chain located in the southeastern United States
  • Representation of J.P. Morgan Chase & Co. as a secured creditor in the Chapter 11 case of McCook Properties LLC and its affiliate McCook Metals LLC, the second-largest aluminum plate company in North America
  • Representation of Prudential Life Insurance Co. as a secured creditor in the Chapter 11 case of The Krystal Companies, a large fast-food chain in the southern United States
  • Representation of Prudential Life Insurance Co. as a secured creditor in the restructuring of the secured debt of Van Camp Seafood (maker of “Chicken of the Sea” tuna)
  • Representation of Republic Industries in a successful bankruptcy acquisition of one of the nation’s largest automobile dealerships
  • Representation of Technology Integration Group in its bid to acquire Pointivity, a computer company
  • Representation of UBS Mortgage Finance, Inc. in connection with the Chapter 11 case of Payless Cashways, Inc.
  • Representation of creditors in the Chapter 11 case of Edwards Theatres Circuit, Inc., one of the largest movie theatre chains in the U.S.
  • Representation of the utility company owners (other than Public Service of New Hampshire) in the $5 billion Seabrook nuclear venture restructuring

SEC Receiverships/Bankruptcy Cases

  • Representation of Howard E. Heiss as the court-appointed SEC receiver for Churchill Mortgage Investment Corp. and certain affiliates, entities on whose behalf the receiver subsequently commenced Chapter 11 cases
  • Representation of Carl H. Loewenson, Jr., as the court-appointed SEC received for Credit Bancorp