IntraOp Medical Corporation

Representation of the creditors’ committee in the chapter 11 case of IntraOp in the Northern District of California. The debtor manufactured a cancer-scanning medical device. When the company filed for bankruptcy, proposing to allow a friendly foreclosure and pay unsecured creditors nothing, the firm sought to recharacterize the secured debt as equity by filing an adversary proceeding against the purchaser. A favorable settlement quickly ensued.