Arlie & Company

Representation of Arlie & Company in its real estate chapter 11 case in the District of Oregon. The firm replaced the original debtor’s counsel. Arlie owned approximately 40 parcels of land, many improved and income-generating and others in various stages of development. The case featured seven secured lenders and more than $60 million in debt, much of it guaranteed by the debtor’s principal. When court-imposed deadlines required filing a cramdown plan, Arlie struck a deal through mediation with the largest secured creditor, which left only one other major secured creditor facing cramdown. The payment-in-full plan was ultimately confirmed using exit financing provided by one of the secured lenders and loan commitments from an insider.