$2.48 Billion Multi-Facility Finance - Cable Company
Represented the administrative agent in connection with the workout and eventual bankruptcy of a cable television company, resulting in a 100 percent collection of all indebtedness (subject to continuing litigation).
Acquisition - Sfuzzi Assets
Represented the founder and principal shareholder of Sfuzzi, Inc. in his successful bid to re-acquire control of the Sfuzzi restaurant chain out of its bankruptcy pending in the United States Bankruptcy Court for the Northern District of Texas.
Represented Bank of America, as agent for $2.5 billion credit facility owed by various Adelphia entities, in Adelphia’s Chapter 11 bankruptcy case. Successfully obtained payment in cash in full for clients when cable operations were sold to Time Warner and Comcast. Continue to represent Bank in related litigation.
America West Airlines
Represented GE Public Finance as lender to America West Airlines for the construction of the baggage handling system at the new Denver Airport. Successfully obtained payment in full for client before confirmation of plan because of threat of not allowing completion of project.
Represented Volvo Finance as a major secured creditor and lessor in the bankruptcy case of this nationwide trucking company filed in Dallas, Texas.
Calpine - Energy
Represented Calyon (now known as Credit Agricole Corporate and Investment Bank) as a project finance lender for the construction of a power plant. Successfully forced sale of power plant which resulted in payment in full in less than a year.
Creditor Committee Representation - Enron
Represented Calyon S.A. (now known as Credit Agricole Corporate and Investment Bank), the co-chair of the Official Committee of Unsecured Creditors in Enron's epic Chapter 11 bankruptcy case.
Creditor's Committee Representation - El Paso Electric Company
Represented the Official Creditors’ Committee in the Chapter 11 case of El Paso Electric Company, the second investor owned public utility to file bankruptcy since the 1930’s. The case involved complex issues regarding the financing of El Paso’s investments in a nuclear power plant and the impact of recently enacted federal deregulation of the power industry. The case was concluded through the successful issuance of new public securities to refinance the pre-bankruptcy debt that totaled over $2 billion.
Debtor Representation - Merchants Fast Motor Lines, Inc.
We represented this debtor-in-possession and its subsequent trustee in the orderly wind-down of this major national trucking company. Merchants was formerly the second largest less than truckload trucking company in Texas with operations in 48 states. The restructuring involved numerous environmentally contaminated truck terminals, union termination issues, and hundreds of personal injury claims. Later we represented the liquidating trustee in winding up the affairs of Merchants and the sale of its remaining assets.
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.
Representation of a hedge fund that was both a major creditor and equity holder of Delphi. The fund sought to serve as a lead plan proponent with the Debtors. The fund's proposal was determined not to be the highest and best proposal. Delphi ultimately confirmed another plan of reorganization with the assistance of the U.S. government and General Motors in conjunction with the GM Chapter 11 case. Creditors received significantly less than they would have received under the original plan proposal.
East Texas Steel Company
Represented the Creditors’ Committee in the Chapter 11 case of this steel company in which our attorneys secured bankruptcy court approval to run an auction of the company’s assets. The success of the Committee in putting the company on the market led to the company’s parent infusing sufficient cash into the company to permit a near full recovery to unsecured creditors.
Extended Stay Hotels, Inc. LBO/FC Litigation
Represented Archon Group, L.P. as a defendant in one of five related lawsuits filed in the U. S. Bankruptcy Court for the Southern District of New York by the litigation trust created after confirmation of the Chapter 11 plan of reorganization of Extended Stay Hotels, Inc. and its related entities. The lawsuits sought to challenge, as both intentional and constructive fraudulent transfers, the leveraged buyout (LBO) transaction through which David Lichtenstein and his many related entities acquired from The Blackstone Group, L.P. and its many related entities ownership of the Extended Stay Hotels chain.
Fedders North America, Inc.
Represented Highland Capital Management, L.P. as secured lender in confirmed Chapter 11 case. Highland was a co-proponent of the plan of liquidation. Highland and the other lenders are also defendants in a lawsuit brought by the successor to the unsecured creditors' committee alleging multiple causes of action. In May 2009, the court issued a ruling, dismissing all claims against the lender defendants, including Highland, other than the aiding and abetting breach of fiduciary duty claim. We are currently defending Highland with regard to the remaining claim.
The Flexitallic Group purchased assets from a corporate predecessor of Federal-Mogul. Some of those assets had been used in the manufacture of asbestos containing products prior to their purchase by Flexitallic. Federal Mogul was in bankruptcy because it was being sued for billions of dollars of asbestos liability. Flexitallic was named in some of those lawsuits even though it had never manufactured a product using asbestos in the US. The Bankruptcy Code section 524(g) provides for third parties to obtain permanent injunctions from asbestos liability that it derivative of that of the debtor in certain circumstances. After over seven years of work, Flexitallic was able to obtain this permanent injunctive relief.
First Japanese Bank Real Estate Restructuring
Represented a syndicate of Japanese banks in connection with their first ever restructuring of a real estate credit facility in the United States, the $300,000,000 corporate headquarters of 7-Eleven, Inc.
General Wireless, Inc.
Represented $50 million unsecured creditor Hyundai Electronics America (HYNIX) in the Chapter 11 case of a wireless telecommunications company that acquired its licenses from the FCC in the highly controversial C-block auctions.
Mexicana Airlines - Chapter 15
Representation of American Airlines' interests related to the Concurso proceedings of the Mexican passenger airlines Mexicana, including proper treatment of claims arising under a codesharing agreement and an interline agreement.
Representation of this petroleum company in their Chapter 11 proceedings involving a pre-arranged plan and a 363 sale.
Restructuring of Resort Company Facilities
Represented lender in one of several facilities with a resort company and several subsidiaries in the process of negotiating an out-of-court restructuring of in excess of $1 billion in debt facilities collateralized by various groups of properties.
Represent Calyon (now known as Credit Agricole Corporate and Investment Bank) as a secured lender and potential DIP lender to various SemGroup entities. SemGroup is a multi-billion dollar global distributor and transporter of oil and gas and asphalt. SemGroup and several of its subsidiaries are in Chapter 11. Calyon is also a secured lender to other SemGroup entities that are not currently in bankruptcy.
United States Brass
Represented Travelers Insurance in negotiating plan treatment of $50 million in disputed insurance coverage as part of the restructuring of this polybutene pipe manufacturing suffering from millions of dollars of product liability claims.