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CFRA Holdings

The firm represented IHOP Restaurants and affiliated entities in the bankruptcy cases of CFRA Holdings filed in the United States Bankruptcy Court for the Middle District of Florida, Tampa Division. Prior to the petition date, the debtors were parties to franchise agreements with IHOP whereby the debtors operated approximately fifty IHOP restaurants in four states. The firm negotiated a settlement among the key parties that protected IHOP’s leaseholds and interests in controlling the franchisee process. As a result, an auction and sale went forward with IHOP as an integral participant that resulted in satisfaction of all of IHOP’s claims, maximized value for all parties, and permitted continued operation of many of the restaurants under new franchise agreements.