Wiley Rein's Bankruptcy & Financial Restructuring attorneys have successfully represented numerous businesses facing challenging financial circumstances. Our wide range of experience in many diverse industries gives our clients a unique advantage. Additionally, we have familiarity with courts across the country, which renders us particularly well suited to handle litigation on behalf of businesses experiencing financial crises. We have particularly broad and deep experience in media, aviation, real estate, and retailing matters.
Our experience includes comprehensive and detailed pre-bankruptcy planning, obtaining Debtor-in-Possession financing, handling asset sales, negotiating with creditors, and addressing public relations concerns stemming from a contemplated reorganization. We recognize the importance of understanding our clients' business operations and goals in an effort to ensure that we propose a restructuring plan that is consistent with those objectives.
In evaluating the options available to a financially troubled entity, we consider the unique facts and circumstances of each client. Clients also benefit from our ability to draw on the expertise of attorneys in other practice areas including Aviation, Communications, Insurance, Employment, and Government Contracts. Our Team is committed to helping distressed businesses successfully restructure and emerge as financially sound entities.
Representative cases include:
- In re Black Crow Media Group, MD FL Case No. 10-00172 (Represented the Debtor-in-Possession) – Represented a group of 22 radio stations located in the Southeastern United States in a successful chapter 11 reorganization. Under the confirmed chapter 11 plan, more than $95 million in claims and interests were reduced to approximately $22 million, with a secured debt of $21 million (reduced from a pre-petition balance of $38.8 million). This reorganization saved hundreds of jobs in Florida, Alabama, Tennessee, and Georgia and allowed the existing management to continue operating the business.
- In re Dornier Aviation (North America), Inc., ED VA Case No. 02-82003 (Represented the Debtor-in-Possession) – Represented supplier of aircraft parts and maintenance services with respect to confirmation of chapter 11 plan of liquidation. Pursuant to the liquidating plan, H. Jason Gold, head of Wiley Rein’s Bankruptcy & Financial Restructuring Practice, was appointed Liquidating Trustee. The firm represented Mr. Gold in successful administration of the Liquidating Trust including the winning and collection of a nearly $15 million judgment on behalf of the Liquidating Trust which resulted in distributions to creditors in excess of 100%.
- In re Howrey, LLP, ND CA Case No. 11-31376 (Represented the Debtor-in-Possession) – Represented an AmLaw 100 law firm, which, at its peak, had 17 offices across the United States, Europe, and Asia and revenues in excess of $550 million in connection with its chapter 11 case.
- In re Rowe Furniture, Inc., ED VA Case No. 06-11143 (Represented the Debtor-in-Possession) – Represented a major manufacturer of upholstered furniture in chapter 11 reorganization. Rowe Furniture was sold as a going concern through a Section 363 sale to an affiliate of Sun Capital Partners IV, Inc. for $31 million. The sale preserved approximately 1,000 jobs in southwest Virginia. The sale of Rowe Furniture and liquidation of its affiliate Storehouse, Inc., resulted in the complete satisfaction of liabilities to the secured creditor, General Electric Capital Corporation, under a $50 million Debtor-in-Possession financing facility.
- In re Storehouse, Inc., ED VA Case No. 06-11144 (Represented the Debtor-in-Possession) – Represented retail furniture chain of approximately 70 stores throughout the southeastern and eastern United States in chapter 11 liquidation. Store closing sales were administered through an agency agreement with Hudson Capital Partners. Remaining assets, including intellectual property, customer lists, and leasehold interests, were sold pursuant to Section 363 of the Bankruptcy Code. The liquidation of Storehouse and going concern sale of its affiliate Rowe Furniture resulted in the complete satisfaction of liabilities to the secured creditor, General Electric Capital Corporation, under a $50 million Debtor-in-Possession financing facility.
ISSUE: DECEMBER 5, 2013