Pacific Lumber

Representation of the creditors’ committee in the chapter 11 case of Pacific Lumber Company and its affiliates in the Southern District of Texas. 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.