Representative Experience:

• Out-of-court restructure of real estate business, which included hotels and shopping centers valued at approximately $300,000,000: An ad hoc creditors committee negotiated with the debtor, which resulted in liquidating certain assets, satisfying obligations to the secured creditor, paying a distribution to unsecured, and permitting the debtor’s business to continue.

• Service as trustee for a race track in an out-of-court settlement: The settlement paid 70 per cent of creditors’ claims, which totaled approximately $10,000,000, through the trust.

• Service as trustee for the creditor’s committee in a bankruptcy commenced by a partner to Massachusetts race track.

• Special counsel to a Chapter 11 debtor who operated charter boats in New York Harbor: Advised debtor’s counsel on adequate protection issues, avoiding the secured creditor’s efforts to seize the debtor’s charter boats. The firm also advised the debtor and participated in negotiations with New York State over its claims for sales and use tax. These efforts were followed by a confirmed plan.

• Creditors’ committee counsel in a Chapter 11 case commenced by a condominium developer: On behalf of the creditors committee, the firm commenced an adversary proceeding against the secured lender, who had taken over the project. Subsequent negotiations led to a settlement paying unsecured creditors 80 per cent of allowed claims.

• Creditor representation in mega-case: The firm represented the largest leaseholder in a chapter 11 case commenced by a restaurant franchisor. It advised the landlord on collecting post-petition rent, on regaining possession over rejected leaseholds, and on asset sale issues.

• Creditor representation in adversary proceeding: The firm represented a former partner in an adversary proceeding brought by the chapter 7 trustee for his former partner. The trustee sued the client and the bank holding the partner’s guarantee to avoid and recover a $400,000 payment. The firm’s efforts resulted in settling the trustee’s claim at a significant discount.