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Arlie & Company

The firm replaced the original debtor’s counsel in this real estate chapter 11 case in Eugene, Oregon. 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.