Significant Cases
The firm represented the creditors' committee in this bankruptcy case involving a telecommunications line builder engaged in the laying of fiber optic cable throughout the United States. A reorganization plan, which addressed the company’s $450 million in debt, was confirmed within one year of the filing of the case.
The firm represents Aegis Mortgage Corporation, a Texas-based full-serviced mortgage company, and several of its related subsidiaries in their bankruptcy case pending in Delaware. Prior to the commencement of their chapter 11 cases, Aegis had lending operations in 49 states and offices in 24 states, generated approximately $800 million in monthly loan originations, and serviced approximately $3.6 billion in mortgage loans. Prior to the chapter 11 filing, Aegis originated wholesale Alt A and subprime loan as well as retail loans made directly to consumers.
AgriBioTech and its subsidiaries were the sixth largest producer of turf grass seed and forage seed in the world. The result of an industry roll-up of thirty four separate companies, AgriBioTech had combined revenues of approximately $400 million in the year prior to its bankruptcy. The firm negotiated far-reaching settlements with major constituencies and a series of going-concern sales before confirming a plan of reorganization. During the case, we developed a cross-border protocol and coordinated the chapter 11 case with a reorganization of a Canadian affiliate (CCAA), linking a U.S. and Canadian judge for videophone hearings, etc.
The firm served as counsel to the creditors' committee of unsecured creditors of Agway, Inc., one of the largest agricultural cooperatives in the United States. At the time of filing, Agway had more than 66,000 members and in excess of $1 billion of claims against it. With the active participation of the committee, Agway liquidated its various businesses during the case, including the sale of its Agronomy and Seedway businesses to Growmark for approximately $65 million, the sale of its leasing business to Wells Fargo Leasing for approximately $400 million, and the sale of its home heating oil and gas business to Suburban Propane for approximately $200 million. The committee negotiated the plan of reorganization that was recently confirmed in Agway's case.
America West, a major, Phoenix-based regional airline, confirmed a consensual plan of reorganization based on a path-breaking strategic alliance with Continental Airlines. Creditors who received stock in the reorganized airline were repaid in full with postpetition interest.
We successfully confirmed a plan in this chapter 11 case of the nation's second largest rice processor and distributor, with revenues exceeding $400 million and liabilities exceeding $200 million.
AmeriServe was the largest food distribution company in the United States, with approximately $9 billion of annual revenues. In the chapter 11 case, all of AmeriServe's assets were sold, and a liquidating plan was confirmed.
The firm represented the bondholders' committee in the At Home Corporation (Excite@Home) chapter 11 case. Bondholder claims were in excess of $750,000,000. The firm was instrumental in the development of the key settlements that resulted in a consensual plan of reorganization and the creation of the bondholders liquidating trust to pursue litigation against certain former directors and controlling shareholders of the company for breach of fiduciary duty. The case involved innovative use of mediation by the firm to resolve complex inter-creditor issues under the subordination provisions of the indentures for the bonds as well as a separate but equally effective coordinated strategy to reject costly and unprofitable contracts with At Home's cable company customers and replace those contracts with hundreds of millions of dollars of cash payments by those customers for limited access to At Home's network during the expedited time period during which the cable companies moved to different networks.
Breed Technologies and affiliates were worldwide leaders in the design, development, manufacture, and sale of vehicle safety components, and had annual revenues of $1.3 billion and debt of $1.6 billion as of the petition date. Breed successfully confirmed a chapter 11 plan that encompassed an internal reorganization.
The firm is co-ounsel to the committee in Buffets Holdings, currently pending in Delaware bankruptcy court. The debtors comprise the nation's largest steak-buffet restaurant chain and the second largest restaurant company in the family-dining segment of the restaurant industry, operating under the names Old Country Buffet, Country Buffet, HomeTown Buffet, Ryan's and Firemountain. Just before filing, the debtors had 615 company-owned steak-buffet restaurants, eleven Tahoe Joe's Famous Steakhouse restaurants, and sixteen franchised locations collectively operating in forty-two states, and employed over 36,000 employees.
The firm represented the creditors' committee in the Bugle Boy Industries bankruptcy case. Bugle Boy was a clothing manufacturer and operated several hundred retail stores throughout the country. Although a distribution to general unsecured creditors seemed unlikely when the cases were filed, a liquidating plan was confirmed in June 2002 that provided for a distribution to creditors.
We served as co-counsel to Cable & Wireless USA, Inc. and its affiliates in their chapter 11 bankruptcy cases. As of the bankruptcy filing, C&W was the second largest hosting services provider in the U.S. and one of the largest carriers of internet traffic, focusing on blue chip Fortune 1000 companies. The confirmation of C&W's plan by the Delaware bankruptcy court resolved in excess of $6.8 billion in claims.
The firm represented this display-technology venture and its Bermuda subsidiary in U.S. chapter 11 bankruptcy cases in the Silicon Valley. Prepetition, the companies had spent almost $650 million trying to advance their display technology and together with a bankruptcy remote subsidiary owned one of the largest intellectual property portfolios in the field-emission display-technology industry. The companies also had issued public debt owed over $350 million. The firm coordinated U.S. and Bermuda insolvency proceedings and assisted the companies in selling the stock of the bankruptcy remote company without triggering defaults, maintained the patents and prosecution of patents applications pending sale, and arranged and consummated a sale to Canon Inc. of the technology.
Caribbean Petroleum Corporation controlled 19% of the retail petroleum market in Puerto Rico through approximately 220 service stations, a 48,000 barrel-per-day refinery, a 2.2 million barrel tank farm, pipelines, and the only privately owned dock and terminal facility in San Juan Harbor. Notwithstanding in excess of $80 million of secured debt, the committee was successful in negotiating a consensual plan that provided for an effective-date distribution of 40% and distributions of an additional 30% over the three-year period following the effective date.
The firm represents represents the official creditors' committee of the Catholic Bishop of Northern Alaska, aka the Diocese of Fairbanks. The Diocese geographically is the largest Catholic diocese in the United States. The population of childhood sexual abuse survivors consists almost entirely of Native Alaskans resident in rural Alaska. The firm, on behalf of the committee, is suing the Diocese, all of the parishes in the Diocese and affiliated Catholic entities to establish the scope of property of the estate and to recover avoidable transfers.
The firm represented the official committee of tort litigants (the “TLC”) in the chapter 11 case of the Catholic Diocese of Spokane. The TLC obtained the first ever trial court judgment that parish real property is property of the diocese. The Diocese negotiated a plan of reorganization with the TLC that has been confirmed.
Clarent, together with its worldwide subsidiaries, was a leading provider of software-based communications solutions that, in conjunction with its hardware or equipment provided by others, enabled service providers to deliver simultaneous transmission of voice, fax and data over Internet Protocol (IP) communications networks. The firm worked with the debtor to implement the sale of substantially all of the debtor's business assets, which sale was consummated less than sixty days after commencement of the case. The firm also handled the mediation of complex securities and insurance rescission litigation
The firm was co-counsel to this boiler manufacturer in a case involving asbestos issues, with respect to which a section 524(g) injunction was obtained on behalf of the liquidating trust.
We confirmed a plan of reorganization for this publicly traded real estate investment fund. It was one of the largest cases ever filed in California's Eastern District, with over $150 million in debt, approximately 29,000 shareholders, and more than $200 million in equity interests.
The firm represented the creditors' committee in the Country Home Bakers case in Connecticut bankruptcy court. Country Home Bakers manufactured cookies, cakes, and bread-related products. A liquidating plan was confirmed in June 2004 and creditors are expected to receive more than a 40% distribution on account of their claims.
The firm developed and negotiated a pre-negotiated chapter 11 restructure for this publicly traded company, the nation's largest independent provider of high-speed, dedicated service-line Internet access. The case involved approximately $1.4 billion in bond indebtedness, securities fraud claims exceeding $2 billion, and $120 million in new financing. Covad confirmed its plan of reorganization within four months of the chapter 11 filing, and existing equity holders retaining an approximate 85% ownership interest in the restructured company.
Crescent was a leading West Coast-based specialty jewelry chain comprised of 123 stores located in 3 states with scheduled assets of $128 million and liabilities of $164 million. The firm represents the creditor's committee in this ongoing case, which currently features a sale process aimed at both strategic and financial buyers, together with efforts toward a negotiated plan of reorganization.
The firm served as conflicts counsel to chapter 11 debtors Dana Corporation and 40 of its domestic direct and indirect subsidiaries. The Dana companies are leading suppliers of modules, systems, and components for original equipment manufacturers and service customers in the light, commercial and off-highway vehicle markets. The products manufactured and supplied by the Dana Companies are used in cars, vans, sport-utility vehicles, trucks, and a wide range of off-highway vehicles.
The firm represented the creditors' committee in the chapter 11 case of the Diocese of Davenport. The committee was instrumental in the drafting of the plan of reorganization, which was approved by the Bankruptcy Court on April 30, 2008. The firm negotiated the most extensive nonmonetary provisions of any case to date, and was also able to negotiate the allocation of the contingency fee of the state court lawyers across all tort claimants in order to ensure that survivors who had retained counsel would not receive a smaller distribution than the survivors who come forward through the bar date notice and did not retain counsel.
In these cases pending in the Southern District of New York, involving more than 60 debtors, the firm represented the creditors' committee and assisted it in slowing down the debtors' and secured lenders' attempt to quickly steamroll a prepackaged plan to confirmation, extensively litigating various confirmation and other issues, and ultimately forcing the debtors and lenders to settle on the terms of a reorganization plan. The debtors are leaders in the global relocation industry, providing relocation and moving services.
The firm represents Dunmore Homes in its pending chapter 11 case. Dunmore Homes was a leading builder in California with twenty-six communities in various stages of development, and $250 million in institutional and trade debt. The principals had guaranteed substantially all of the lender debt.
The firm represented Empire Land and eight of its affiliated companies in their chapter 11 case in Southern California before it converted to a chapter 7 case. The companies were residential land, homebuilding, and financing companies that developed masterplanned communities and other land and construction projects located mainly in California and Arizona.
The firm was co-counsel to Exide, one of the largest manufactures of lead acid batteries in the world, whose plan confirmed in April 2004.
The firm served as co-counsel to this family of 157 entities (134 of which are debtors located in the United Kingdom and 23 are debtors located in the United States). The Federal Mogul entities, automotive and vehicle parts manufacturers, were faced with more than 300,000 asbestos personal injury lawsuits when they sought chapter 11 bankruptcy protection. The debtors' plan of reorganization was confirmed in 2007.
The firm represented the official joint borrowers committee in the bankruptcy of this subprime mortgage lender. The committee represented over 18,000 individuals who had obtained mortgages from First Alliance. At the time of filing bankruptcy, the debtor was under attack by several state attorneys general, AARP, and individual borrowers all claiming that First Alliance used unfair and deceptive sales presentations in the solicitation of its mortgage loans. Through the efforts of the committee, the FTC, the various state attorneys general, among others, a plan of liquidation was achieved in which the consumer borrowers recovered over $60 million. The plan included a settlement of the litigation then pending against First Alliance, which at the time was the largest settlement ever achieved by the FTC in a consumer fraud case.
As counsel for the creditors' committee in the bankruptcy proceedings for the parent company of Executive Life Insurance Company and Executive Life Insurance Company of New York, with unsecured debt, including contingent claims, in the billions of dollars, the firm took the lead role in negotiating a committee-sponsored plan of reorganization that was confirmed less than eighteen months after the bankruptcy was filed.
The firm represents the committee in Fleetwood Enterprises, Inc. With 3,700 employees and 19 manufacturing plants in 11 states, Fleetwood was one of the nation's leading producers of manufactured housing and recreational vehicles. Fleetwood operated its business through three divisions: motor homes, housing and travel trailers. Each division operated through separate subsidiaries, which employ the individuals who carry out those operations, from assembly line employees and plant managers to sales professionals and technical staff.
The firm was co-counsel to Fleming Distribution, one the larger distributors in the food service industry with $8 billioin in annual revenue. The firm handled many aspects of the case, including the sale of one of the company's largest divisions. The company successfully reorganized.
Foss makes non-woven fabrics used in the automotive industry as well as other applications.
Freedom Communications is a national information and entertainment company of print publications (including the Orange County Register), broadcast television stations, and interactive businesses. As a result of actions taken by the firm on the committee’s behalf in this “pre-planned” chapter 11 case, the debtors and their lenders radically amended the plan that was proposed to greatly enhance unsecured creditors’ recoveries.
The firm represented Fresh Choice, Inc. in its chapter 11 case pending in the Northern District of California. Fresh Choice owns and operates forty-six limited-service, buffet-style restaurants in California, Texas and Washington under the names Fresh Choice, Fresh Choice Express and Zoopa, including one dual-branded Fresh Choice Express and licensed Starbucks retail store and one licensed Starbucks retail store. The firm confirmed a plan of reorganization that provided for the possibility of full payment to all unsecured creditors.
We represented the ad hoc committee of senior secured noteholders in the chapter 11 case of this well-known undergarment manufacturer.
G+G was a national retailer specializing in the sale of young women's and girls' clothing and fashion apparel. Prior to filing for bankruptcy, G+G had stores and outlets leased throughout 48 states, Puerto Rico, and the Virgin Islands, and a distribution center in New Jersey. Shortly after filing, G+G obtained court approval for a sale of substantially all of its assets as a going concern. Thereafter, the bankruptcy court confirmed G+G's chapter 11 plan of liquidation approximately 11 months after the petition date. The liquidating trustee anticipates that creditor recoveries will be approximately 50% on the dollar. This outcome is outstanding in light of the fact that at the petition date the company was on the verge of administrative insolvency.
The firm represented this publicly traded company, the nation’s leading manufacturer of asphalt plants, soil remediation plants, combustion systems, and screening equipment for the road and highway construction industry, in its chapter 11 case in Florida. Initially commenced as an involuntary bankruptcy by the company’s lenders, which were owed approximately $110 million, the case resulted in a confirmed full payment plan that left existing equity intact.
At the time of its chapter 11 filing, General Cinemas was the eighth largest theatre chain in North America with approximately 750 screens mostly in the Midwest and Northeast.
The firm represented the renowned publisher of Penthouse Magazine, now known as Penthouse Media Group, in its chapter 11 case. Penthouse Media is also engaged in internet, entertainment, and trademark licensing businesses. Turnarounds & Workouts listed this case as one of the most successful restructurings of 2004. Under the plan, unsecured creditors received cash and notes representing full payment of their claims.
The firm represented Gingiss Group/Gary's Tuxedo's in connection with their chapter 11 bankruptcy cases filed in Delaware bankruptcy court. Gingiss/Gary's operated the only national chain of retail stores specializing in the rental and sale of formalwear with more than 400 stores and annual revenues exceeding $75 million and completed a sale of substantially all of their assets to May Department Stores less than sixty days after the bankruptcy cases were filed.
Harnischfeger and fifty-nine subsidiaries manufacture and market pulp and papermaking machinery and mining equipment with annual sales of $2 billion, and confirmed a plan to conclude their chapter 11 cases.
The firm represents the chapter 11 debtor in this case. The debtor, an 118-year old law firm with offices across the country and in London and Asia, had 700 lawyers, more than 1000 employees, and revenues in excess of $500 million. The firm dissolved and filed a voluntary chapter 11 petition in late December 2008 in order to preserve the right to pursue a significant avoidance action.
We represent this national home and home-products retailer, which had 200 stores at the commencement of its pending chapter 11 case.
The firm represented the creditors' committee of Software Logistics Corporation d/b/a iLogistix. Prior to a going-concern sale of its assets in which the committee and the firm played a pivotal role, iLogistix was in the business of providing global supply chain management services to some of the largest technology companies in the world. The committee proposed a plan of liquidation for iLogistix that resulted in substantial recoveries for unsecured creditors.
The firm is co-counsel to Intermet, one of the foremost independent suppliers of automotive cast components in the United States with over 160 years of manufacturing, in connection with its chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the District of Delaware.
We served as counsel to the official committee of unsecured creditors in the case of Irving Tanning Company , which is engaged in the business of treating and finishing cow hides into leather sold to manufacturers of leather products in the United States and worldwide. At the beginning of the case, the company's secured lender was insisting on a liquidation, and opposed the debtor's request to use cash collateral. The committee uncovered a potential claim against the secured lender and otherwise sought to resist efforts to liquidate the company. Ultimately, an orderly process for selling or reorganizing the company was established that resulted in a confirmed plan of reorganization funded by a financial buyer for the company, thereby sparing it from outright liquidation.
The firm was co-counsel to JL French Automotive Castings, Inc. and its affiliates in connection with their chapter 11 bankruptcy cases filed in the United States Bankruptcy Court for the District of Delaware. JL French produced a broad range of aluminum die-cast components and assemblies, including engine blocks, oil pans, transmission cases, engine covers, bedplates, ladderframes, cam covers, water pump housings, and front-end accessory drive brackets.
We represented the official committee of unsecured creditors in negotiating a restructuring of over $100 million of secured debt and $290 million of bond debt, all of which was accomplished in approximately four months.
The firm represented the chapter 11 trustee in this bankruptcy case in Pennsylvania. The firm hired forensic accountants to reconstruct the company’s books and records after it was discovered that the company maintained two sets of financial records and destroyed numerous other documents. All hard assets were sold and a plan was confirmed that will allow for a liquidation trustee to pursue claims for the benefit of creditors.
PSZJ attorneys represented the creditors’ committee of Loews in cross-border bankruptcy proceedings of Loews and its Canadian subsidiaries. Loews was at that time the second largest movie theater chain in the world, with over 3,500 screens and revenues exceeding $1 billion. PSZJ was also involved in the CCAA proceedings on behalf of the creditors’ committee. PSZJ negotiated for a plan that provided for a meaningful, fair distribution to general unsecured creditors.
In 2004, Sam Maizel was appointed, pursuant to a request of the United States Securities and Exchange Commission, to serve as the examiner in the bankruptcy cases of Metropolitan Mortgage & Securities and Summit Securities, two financial services companies with more than $3.5 billion in debt and facing significant allegations of financial fraud. Sam's team, including the firm's attorneys Jeremy Richards and Jonathan Kim and forensic accountants, published two voluminous reports in six months, on time and within budget. The reports were the subject of compliments by opposing parties and the bankruptcy judge alike.
The firm represents former undisputed heavyweight boxing champion Mike Tyson and his corporation Mike Tyson Enterprises, Inc. in their chapter 11 cases in the Southern District of New York. During the case, the firm negotiated global settlements of litigation with Don King and Don King Productions and numerous other creditors and parties in interest, and negotiated and filed a joint plan of reorganization with the creditors' committee.
We currently represent Mortgage Lenders Network USA, a Connecticut-based subprime mortgage loan originator and servicer in its chapter 11 cases filed in Delaware. Prior to its chapter 11 filing, MLN originated approximately $18 billion of subprime mortgage loans annually, and serviced approximately $17 billion of such loans.
The firm represents the committee for Northpoint, a nationwide provider of DSL internet services to 100,000 subscribers, with unsecured debt exceeding $520 million. The company's assets were sold to AT&T for $135 million.
The firm represented an official subcommittee of employee organizations in the Orange County chapter 9 case and represented the chairman of that employee subcommittee in his role as a member of the official creditors’ committee. Before he joined the firm, Henry Kevane served as counsel to the unsecured creditors' committee and played an active role in formulating, negotiating, and supporting passage of the county's pivotal recovery legislation.
The firm represented the committee in this case, which involves twenty-six retail stores selling products designed for organizing the home and office.
The firm represents OwnIt Mortgage Solutions, a Southern California-based subprime mortgage lender in its chapter 11 case filed in Los Angeles. In 2005, OwnIt originated approximately $8.3 billion in subprime mortgage loans. OwnIt filed its chapter 11 case in late 2006.
The firm represents this independent energy company engaged in the development and production of oil and gas through its offshore drilling facilities. The company has over $500 million in debt and generates over $200 million in revenue.
The firm represented the creditor's committee in the bankruptcy case of Pacific Lumber Company and its debtor affiliates. The case involved a wide range of timber-related assets, including over 200,000 acres of prime forestlands, a lumber mill, a cogeneration plant, and a company town. Through the efforts of the firm, the committee, as coproponent of a confirmed plan of reorganization, was successful in realizing an estimated 75% return for unsecured creditors, despite the fact that the company had approximately $900 million of senior secured debt and over $20 million in underfunded pension obligations.
We currently represent Irvine-based People's Choice Home Loan, Inc. and two of its affiliates in their chapter 11 case. Warehouse line liquidity, repurchase requests, and reduced pricing for nonprime loans in the secondary market led to the filing. The company intends to utilize chapter 11 to explore financial and strategic alternatives with respect to its strong core assets.
The firm represented the parent company of Pacific Gas & Electric Company, California's largest gas and electric utility, in connection with the utility's chapter 11 case and related issues. The utility case is the largest chapter 11 filing in California history, and with more than $24 billion in assets and more than $18 billion in liabilities, it is the second largest bankruptcy case ever filed in the United States.
The firm served as principal bankruptcy counsel for this leading U.S. paper producer. Working with the company, we successfully sold the business, resolved and restructured billions in claims including $3.2 billion of Superfund claims, and confirmed a plan.
The firm acted as co-counsel for the examiner in Polaroid's bankruptcy case filed in Delaware bankruptcy court. Polaroid and its related debtors were the leading instant-imaging company in the world and the only manufacturer of traditional chemical-based instant cameras and film in the United States. The examiner was appointed to, among other things, (a) investigate whether Polaroid’s accounting practices or irregularities materially undervalued Polaroid’s assets and/or resulted in an inappropriate liquidation of Polaroid’s assets, and (b) review financial information prepared by Polaroid, the creditors’ committee, Polaroid’s secured lenders, certain shareholders that petitioned for an examiner, certain equity partners, and other Polaroid parties in interest.
RBX and its subsidiaries are the leading domestic manufacturers of rubber foam, plastic foam, and other polymer products, with annual sales of approximately $250 million. The cases were commenced when an involuntary petition was filed by the holders of $100 million in subordinated notes. Less than sixty days later, the firm filed a plan of reorganization, which was ultimately confirmed.
The firm is counsel to the Rhodes Homes companies in its bankruptcy cases pending in the United States Bankruptcy Court, District of Nevada. Rhodes Homes is a leading Nevada home builder and has developed 40 communities since its founding in 1988, generating over $2.4 billion in total revenues. Rhodes Homes has built more than 6,000 homes in the Las Vegas Valley during the past two decades. In 2008, Rhodes Homes sold 390 homes, generating revenue of $118.3 million, or $54.6 million net of expenses.
The firm represented the creditors' committee in the bankruptcy case of the Diocese of San Diego. Pleadings filed by the firm were instrumental in the bankruptcy court’s issuance of an order to show cause re contempt against the bishop, his counsel, all parishes, the parishes’ counsel, and two priests. The order resulted in the appointment of an expert whose ultimate report resulted in an order to show cause re dismissal of the case, thereby causing the Diocese to settle (upping its initial offer in the reorganization to $198 million) and voluntarily dismiss its case.
The firm is counsel to the creditors' committee in the chapter 11 bankruptcy case of Sega Gameworks, which was filed in Los Angeles bankruptcy court. Gameworks was formed in 1986 as a joint venture among SEGA Enterprises, DreamWorks SKG, and Universal Studios, and is headquartered in Glendale, California. The enterprise includes fourteen full-scale location-based entertainment centers and four traditional video arcades.
Sizzler, the well-known NYSE restaurateur with over 500 company-owned and franchised locations, and approximately $1 billion in annual revenues as of the petition date, successfully confirmed chapter 11 reorganization plans within one year after the cases were filed. All creditors are to be paid in full.
The firm represented the creditors' committee for Spectrum Restaurant Group, Inc. Spectrum is the operator or former operator of such well-known casual dining chains as Grandy's, Prego, National Sports Grill, Harry's Bar & Grill, MacArthur Park and Guaymas. A plan was successfully confirmed in this case in August 2007.
We represented the official equity holders' committee of this company and its affiliates, which formed one of the largest growers, packers, haulers and marketers of fresh fruit and produce in California, with annual sales in excess of $200 million.
One of the nation's largest independent distributors of business telephone systems and a reseller of long distance service, TIE had over $100 million in annual sales. As a result of the firm's efforts, the company was sold as a going concern for approximately $43 million, and a plan of reorganization was confirmed.
The firm represented the creditors' committee of Tom's Foods, Inc. The debtor was a leading regional snack food manufacturer with a strong presence in the Southeast and Southwest, with manufacturing operations in California, Florida, Georgia, Tennessee, and Texas. The debtor manufactured over 250, and sells over 300, snack food products and had a distribution network servicing 43 states through more than 2,000 sales routes. The committee negotiated with the debtor regarding a sale of its assets, which were acquired by a competitor thereby allowing many of the debtor's vendors to continue their sales relationships.
The five-time Grammy Award winning singer filed a personal bankruptcy case and three related corporate cases. The firm successfully negotiated a settlement of contentious litigation regarding Ms. Braxton's rejection of her record contract.
The firm represents the official creditors’ committee in the chapter 11 case of Trans Continental Airlines and disgraced music promoter Louis J. Pearlman in their chapter 11 cases pending in the Northern District of Florida. Working cooperatively with the chapter 11 trustee and his professionals, the firm is seeking to enhance recoveries for creditors who were the victims of a Ponzi scheme estimated to have involved over $400 million dollars in assets by means of the investigation and institution of litigation against third parties and involvement in the criminal proceedings that led to Mr. Pearlman’s conviction, incarceration and cooperation with the trustee and federal authorities to uncover assets.
We were counsel to this well-known air carrier, which was sold to American Airlines in its chapter 11 case.
At the time of its chapter 11 bankruptcy, Tri-Valley was the largest canner of peaches in the nation and a major processor of tomatoes and tomato products. The firm was chapter 11 counsel to this nonprofit agricultural cooperative with annual revenues of approximately $800 million. With DIP financing put in place in advance of the summer "pack," the debtor was sold to its secured lenders through a negotiated plan of reorganization in a case that concluded in less than one year.
The firm represented this sixth-largest motion picture exhibitor in North America, with more than 200 theaters in 23 states. In less than a year from the petition date, the debtors successfully confirmed a plan of reorganization that provided for recovery in full by the unsecured creditors of certain debtors and a limited recovery for other unsecured creditors.
The firm represents this well-known international chemical manufacturer in its asbestos-related restructuring activities and chapter 11 case.
Webvan Group and affiliates provided internet-based home delivery services for groceries and other products throughout the West before filing for bankruptcy in July 2001. Over $1 billion was invested in the companies and their operations prior to the filing. We assisted management in the orderly liquidation of the debtors' assets, and confirmed a liquidating plan in less than six months' time.
The firm represented the creditors' committee of Winfirst, a "fiber to the home" provider of combined local telephone and cable-television service, together with high-speed internet access. Winfirst sold its assets to SureWest Communications as a going concern.
The firm represented the committee for one of the largest retailers of prerecorded music in the United States in its second chapter 11 case. Substantially all of the assets of Wherehouse were acquired by Trans World Entertainment in a bankruptcy court-approved sale.
The firm represents approximately 180 of the 200 affiliated Woodside Homes companies in their recently filed chapter 11 cases. The Woodside Group is one of the nation’s largest privately held home building and construction companies and is recognized as one of Southern California's most influential privately owned and operated land developers. The Woodside Group businesses include acquiring and developing property for sale to homebuilders; overseeing the acquisition, development, and management of commercial, retail, multi-family properties and self storage facilities; and selling homes for a wide spectrum of buyers. With gross revenues exceeding one billion dollars on a consolidated basis, the Woodside Group has built over 25,000 homes and has approximately fifty projects pending in eleven states.
The firm is counsel to Z Gallerie, a $200 million, family-owned, specialty home-furnishing retailer in its chapter 11 case. On October 8, 2009, less than six months after commencement of the chapter 11 case, the court approved the company's reorganization plan. Pursuant to the plan, Z Gallerie's founders will maintain their ownership stake and the company will continue to operate fifty-five retail locations throughout the United States.
Zenith Electronics, one of the world's largest electronics manufacturers, was sold as a going concern through a pre-packaged bankruptcy that resulted in payment of 100% of all creditors' claims.