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Practices

Peregrine Systems

The firm represented the debtor in the successful reorganization of Peregrine Systems, a major producer and distributor of business software systems whose operations had been plagued by accounting fraud. The firm helped the Peregrine divest itself of its Remedy division in chapter 11 for more than $350 million and confirmed a plan of reorganization restructuring more than $400 million of debt and providing a recovery for both shareholders and securities fraud claimants. Shortly after its exit from chapter 11, reorganized Peregrine was acquired by HP.