Phoenix Brands

The firm was debtor’s co-counsel to Phoenix Brands LLC in its chapter 11 bankruptcy. The Connecticut-based company filed for bankruptcy protection in May 2016 after sales of its laundry and fabric products greatly decreased when competitors introduced single-use laundry detergents in 2012. The firm assisted in obtaining approval of an auction process that resulted in the successful sales of substantially all of the company’s assets through sales to separate bidders, achieving a $9 million increase from the initial stalking horse bids for the assets. The company later obtained confirmation of a liquidating plan that created a liquidating trust to administer the wind down of the estates. The firm continues to represent the liquidating trust in that capacity.