Home Products International

The firm served as counsel to the ad hoc committee of holders of the debtors’ outstanding 9.625% senior subordinated notes, and negotiated a plan support agreement and term sheet providing for a debt-for-equity swap whereby the notes and HPI stock would be extinguished, noteholders would receive 95% of new HPI stock and, provided the noteholders and old HPI stockholders accepted the Plan, old HPI stockholders would receive 5% of the new HPI stock.