Bankruptcy

Equipment lessor—Bankruptcy cases

Represented equipment lessors in bankruptcy cases in various jurisdictions, Comcar Industries (Bankr. D. Del.), OSG Holdings (Bankr. D. Del.), and Sun Edison (Bankr. SDNY).

National Football League (NFL) team—Subpoena response

Represented an NFL football team in response to a subpoena and defense of threatened preference/fraudulent transfer claims in the bankruptcy proceeding of In re National Events Holding, LLC.

Navajo Times Publishing—Dismissal of complaint

Obtained a dismissal for the Navajo Times in a bankruptcy adversary action on the basis of a Sovereign Immunity defense. The court’s well-reasoned decision is published as Subranni v. Navajo Times Publishing Company, Inc. (In Re Star Group Communications, Inc.), 2016 Bankr. LEXIS 1893 (Bankr. N.J. April 29, 2016).

Regional bank—Full recovery outstanding principal

Achieved full recovery of the outstanding principal, accrued interest and legal fees on a commercial mortgage loan which required successful representation of a regional bank in the borrower’s chapter 11 case in the Bankruptcy Court for the Eastern District of Pennsylvania and a subsequent sale of the distressed loan.

Pre-petition and exit financing lender—Furniture retailer bankruptcy 

Represented a pre-petition secured lender and exit financing lender in the bankruptcy of a regional furniture retailer in the Bankruptcy Court for the District of New Jersey.

Pre-petition and DIP lender—Construction company bankruptcy

Represented a pre-petition secured lender and DIP lender in the bankruptcy of a construction company in the Bankruptcy Court for the Eastern District of Pennsylvania.

Purchaser—Section 363 sale

Represented a purchaser of Burger King® franchises at a § 363 sale in the Bankruptcy Court for the Eastern District of Pennsylvania.

Southern Eldorado Corporation—Appellate counsel

Successfully litigated a dispute against the assignee of a contract and received an award of all litigation fees in connection with the proceedings in the Bankruptcy Court and the appeals to the District Court and, ultimately, the 3^rd Circuit Court of Appeals. The Third Circuit Decision is published as Regis Corporation (Appellant) v. Southern El Dorado Corporation (Appellee) (In re Trade Secret, Inc.), 609 Fed. Appx. 98 (3d Cir. June 10, 2015) (Appeal from Bankruptcy Court Judgment).

Mortgage holder—Secured creditor representation

Represented successfully a mortgage holder with a $12 million claim in a bankruptcy matter where the debtor entities engaged in a Ponzi scheme involving more than 20 commercial properties and many lenders. Caused rental revenue to be segregated for the benefit of the client, obtained a release so that no claims were brought against the client, and exited the bankruptcy with title to the property within nine months of the bankruptcy filing. Obtained substantial recovery for the client in a relatively short period. 

National bank—Work out matter

Represented a national bank with claims in excess of $4 million secured by trucking company assets including vehicles. Loan was troubled for two years before we were retained, and within months forbearance terms were negotiated providing for resumption of loan principal payments, releases in favor of the bank, and full payment of the loan including legal fees.

National bank—Secured creditor representation

Represented a national bank holding a $22 million claim secured by ocean barges and tugs in a borrower bankruptcy. Assumed a leading role in advancing mediation and ultimate agreement involving the debtor company and the lender group of twelve banks. Additional collateral for repayment of the claim was obtained, all legal fees were reimbursed, and the matter proceeded promptly to a confirmed plan of reorganization, allowing regular loan payments to resume.