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.
ST&G's Recent Record of Success:
Azabu Buildings
Company, Ltd. (Honolulu, HI)
As Committee counsel, ST&G took the
primary role in developing and confirming of a novel plan of reorganization
that transferred ownership of the Debtor's primary asset, Hyatt Regency Waikiki
Resort & Spa in Honolulu, Hawaii, while successfully navigating difficult
U.S. and Japanese insolvency, corporate and tax law issues. This novel
structure created additional value of $50 millionmore for unsecured
creditors.
Eurofresh, Inc., et
al. (Phoenix, AZ)
In less than six months, the
Debtors confirmed a plan of reorganization, which provided for a distribution
to unsecured creditors. Significantly, unsecured bondholders received a
majority equity stake in the reorganized debtor. The Committee, with the
assistance of ST&G, was integral in achieving the successful results of
these cases.
Ownit
Mortgage Solutions, Inc. (Los
Angeles, CA)
As
Committee counsel, ST&G worked closely with Ownit's counsel to maximize the
value of Ownit's assets through various asset sales and negotiated a consensual
liquidating plan of reorganization. ST&G also successfully reduced
Ownit's proposed compensation for its CEO by 50% after litigating the matter
before the bankruptcy court – it is one of the few rulings in the country in
which the court reduced a debtor's executive compensation.
USA Capital First
Trust Deed Fund, LLC (Las Vegas, NV)
In a case involving five
affiliated debtors that were engaged in the mortgage brokerage business,
ST&G, as counsel to the equity committee of FTDF, spearheaded the effort to
obtain court authorization to allow interim distributions to equity interest
holders prior to plan confirmation. In addition, ST&G was the driving
force behind the sale of FTDF's assets and confirmation of the debtors' plan of
reorganization, which was consummated in less than 10 months after the debtors
filed for bankruptcy.
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