Practices

Crossborder Insolvency and Chapter 15
Debtors

Spiegel Inc.

The firm served as conflicts counsel to Spiegel, Inc. and its subsidiaries in its cross-border case, with certain of Spiegel’s Canadian subsidiaries being subject to proceedings under the CCAA in Canada. Prior to its bankruptcy, Spiegel operated retail businesses and a bank that issued private label credit cards. The firm negotiated the terms of Spiegel's DIP and exit financing, litigated against lenders with claims for damages related to credit default swaps and setoffs, and resolved a dispute with a former investment banker over fees for a postpetition transaction related to Spiegel's credit card business.