Acquisition of ISR Group
Represented Trive Capital, LLC in its acquisition of the assets of ISR Group, Inc. out of bankruptcy.
Representation of tenant regarding a 40-year, 175-acre multi-million dollar lease with a bankrupt landlord. In connection with the proposed assumption and assignment of the lease and confirmation of the debtor's plan, the firm litigated the amount of cure to be paid to the tenant, including complex issues regarding rent reduction and other lease terms. The firm engaged in extensive discovery and other trial preparation, and ultimately negotiated a favorable settlement with the landlord regarding these issues.
RT Jedburg v. American LaFrance LLC
On appeal to federal district court in Delaware, obtained ruling striking liquidated damages provision resulting in take-nothing judgment on $8 million post-confirmation bankruptcy claim related to lease dispute.
BOH Park Highlands Nevada Litigation
Represented BOH Park Highland, an affiliate of Hillwood Investment Property Services, in connection with the Chapter 11 bankruptcy cases filed by November 2005 Land Investors LLC, and two affiliates in the U.S. Bankruptcy Court for the District of Nevada. Nov 2005 filed bankruptcy in July 2011 due to its inability to service $170 million of secured debt. Our client, BOH, is the ultimate owner of November 2005. In December 2011, Nov 2005 sold substantially all of its assets, including approximately 1,340 acres of land in a master-planned real estate development in North Las Vegas known as Park Highlands, to a third party for $21 million.
Guaranty Financial Group Inc. - Chapter 11
Representation of Guaranty Financial Group Inc. ("GFG") and three of its affiliates in their complex Chapter 11 cases in the Northern District of Texas. Through its subsidiaries, GFG formerly owned Guaranty Bank, which operated more than 100 bank branches in Texas and California and, at one time, had consolidated assets of more than $16 billion. The Office of Thrift Supervision appointed the FDIC as receiver for Guaranty Bank in August 2009, resulting in the second largest bank failure of 2009 and the tenth largest in American history. This Chapter 11 case required the firm to formulate a plan for the distribution of GFG's assets to GFG's creditors, including GFG's $305 million Trust Preferred Security Holders. The complexity of the case was heightened by the heavy involvement of the FDIC, which asserted multi-billion dollar claims against the Debtors' estates. The firm negotiated a global settlement among GFG, the FDIC, and GFG's Trust Preferred Holders, and in May 2011, a plan of liquidation for GFG and its affiliates was confirmed resolving claims against the debtors in excess of $2.4 billion.
Forrest City Grocery Co. in its Sale to Core-Mark Holding Company, Inc.
Represented Forrest City Grocery Co. (FCGC), a food industry wholesale distributor, in its sale to Core-Mark Holding Company, Inc. (Core-Mark), a marketer of fresh and broad-line supply solutions to the convenience retail industry, via an all-cash merger pursuant to which FCGC became a wholly-owned, indirect subsidiary of Core-Mark.
U.S. Treasury Department
Representation of the U.S. Treasury Department in connection with the restructurings and bankruptcies of participants in the U.S. auto industry.
Jiffy Lube Franchisee Heartland Automotive
Represented Jiffy Lube International, Inc. in the Chapter 11 proceedings of its largest franchisee, Heartland Automotive Holdings, Inc., in Fort Worth, Texas. The debtor operates over 400 franchised Jiffy Lube service centers across the nation, raising complex issues regarding franchise agreements, non-residential real property leases, and franchisee relations.
Represented Bombay Company, a major national and international home furnishings retailer in efforts to raise capital to continue as a going concern and then in its efforts in Chapter 11 to implement an orderly liquidation of the company’s assets. The Canadian assets were sold as a going concern. U.S. and other international assets were liquidated yielding a full recovery to Bombay’s secured and an approximately 25%-30% recovery to Bombay’s unsecured creditors.
American LaFrance Corporation
Represented American LaFrance in its Chapter 11 case in Delaware. The case involved the re-negotiation of substantial vendor and lessor relationships and resulted in American LaFrance's successful reorganization.
Debtor Representation - Mirant Corporation
Represented Mirant Corporation and certain of its direct and indirect subsidiaries in their Chapter 11 cases in Fort Worth. Mirant was an international company whose core business is the production and sale of electricity and electrical capacity. The Mirant Corporation bankruptcy is the largest bankruptcy case ever filed in Texas.