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Sometimes, the only way for a company to reorganize is through a formal,
in-court chapter 11 case. In other situations, the best way for a company
to reorganize may be through an out-of-court restructuring. For debtors and
creditors, the choice of whether to proceed in or out of court is a difficult
one, and one that ST&G, with its unparalleled experience, will guide you
through.
Deciding which way to go requires the careful consideration of many
factors. Are there urgent operational or legal problems that likely will
need to be addressed before an out-of-court restructuring plan can be
implemented? Will the restructuring generate a better result if the
debtor has the benefit of certain strategic options that are available only in
an in-court case? What is the exit strategy?
Asking (and answering) key questions like these is what we do, every
day. All restructurings, big or small, in court or out, involve an almost
infinite array of choices, risks, and outcomes. No other law firm has the
expertise and experience that ST&G brings to the table to make sure that
our clients get the best possible deal, every time.
ST&G's Recent Record of Success:
Fremont
General Corp. (Santa Ana,
CA) – ST&G was
instrumental in the strategic decision to seek bankruptcy protection for this
bank holding company in an effort to preserve nearly $700 million in net
operating loss carryovers ("NOLs"). The preservation of this significant asset led to a competitive plan
process with six different plan proponents and resulted in full payment to all
unsecured creditors and a return to equity.
Utah 7000
(Salt Lake City, UT)– ST&G successfully completed the chapter 11 reorganization of one
of Utah's
largest real estate developers -- the Promontory Ranch Club.
Promontory's chapter 11 plan has relieved the company of more than
$400 million in secured debt, while also enabling Promontory to
continue the development of its master planned resort community near Park City.
Valley
Health Systems, Inc. ("VHS") (Riverside, CA)
– ST&G, on behalf of VHS, successfully obtained confirmation of a Plan of
Adjustment in the VHS chapter 9 case pending in the Central District of
California, Riverside Division. In a 82-page memorandum decision,
Bankruptcy Court Judge Peter Carroll approved the Plan of Adjustment, paving
the way for VHS to proceed with the sale of substantially all of its
assets. For more information, please see
company's press release at: http://tinyurl.com/2egsnuf
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