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Practices

Allen Systems Group

The firm served as counsel to Allen Systems Group, a Florida enterprise-software company, in its prenegotiated restructuring. Allen Systems filed its chapter 11 case confirmed its prepackaged plan of reorganization 37 days after the filing. Under the plan, administrative, priority secured tax and unsecured claims were paid in full. Secured creditors either had their claims reinstated or received the collateral securing their claims. The company’s long-term debt load was reduced by 60% while it was under court protection.