We know the debtor's playbook (in fact, we wrote much of it).
With our vast depth and breadth of experience representing debtors in
and around bankruptcy, we usually know what the debtor's next move is,
sometimes even before the debtor does. This unique
ability to anticipate the debtor's next move gives ST&G's clients an invaluable edge in any situation.
Many law firms believe that in a bankruptcy case, a creditors'
committee or an equity committee has to play a reactive role.
They wait to see what the debtor will do, and then they respond. They
wait to see what the debtor will offer them, and then they ask for
more. That's not how we do things at ST&G.
ST&G's
team of seasoned professionals knows what creditors and equity holders
are entitled to, and when we represent them, we make sure that they get
it. We know how to use our expertise and experience to unlock
hidden value for our clients. Whether it involves developing and
implementing a new legal theory to successfully challenge a senior
lender's liens, or pursuing fraudulent transfer litigation to set aside
an LBO and recover the proceeds, we know how to use
the law to the maximum possible advantage of our clients.
Case in point: In
early 2005, ST&G was engaged to represent the Official Committee of
Equity
Security Holders for Trump Hotels & Casino Resorts, Inc.
("THCR"). THCR and its
affiliates had recently filed a pre-negotiated
chapter 11 plan that was supported by the THCR bondholders, but which
would
have diluted THCR's public shareholders by a 1,000-to-1 ratio and given
them consideration worth less than $2 million in total.
With
its trademark
"aggressively intelligent" lawyering, ST&G was able to
demonstrate that the THCR shareholders were entitled to tens of
millions of
dollars in value above what they were set to receive under the
bondholder supported plan. Ultimately, ST&G negotiated a
settlement
that increased the value of the distribution to THCR's public
shareholders by
over $40 million in cash plus a substantial amount of "in the money" warrants.
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