Herrick’s Restructuring & Bankruptcy Group is comprised of an agile group of accomplished restructuring, litigation and corporate attorneys with decades of experience advising a broad range of creditors and debtors in all phases of complex chapter 11 cases and out-of-court restructurings, including distressed debt investing, restructuring-related litigation and real estate workouts.

We regularly represent official and ad hoc creditor committees, hedge funds, distressed debt investors, bondholders and other financial institutions, and have extensive experience litigating all claims arising under or related to a chapter 11 case.  And often serve as conflicts or special counsel for large-scale complex matters.

Recent Work

AEA Middle Market Debt Funding LLC, et al. v. Marblegate Asset Management LLC, et al.: Representing the administrative agent against claims for breach of credit and security agreements, conversion, conspiracy to commit conversion, and aiding and abetting breaches of fiduciary duty. In January 2019, Herrick successfully appealed, on an emergency basis, the entry of a temporary restraining order preventing the $120 million out-of-court restructuring transaction from proceeding.  The TRO was vacated, and the restructuring was consummated.  The litigation remains ongoing.

In re Blackhawk Mining, LLC, et al. (D. Del.): Representing the administrative agent and collateral agent under a $660 million first lien term loan facility and the administrative agent and collateral agent under a $150 million DIP term loan facility in connection with the pre-packaged restructuring of approximately $1.1 billion of debt.

In re Boston Generating LLC, et al. (S.D.N.Y.): Representing numerous defendants in fraudulent conveyance action by the liquidating trust arising from a $2 billion leveraged recapitalization.

In re C.T.W. Realty Corp. (S.D.N.Y.): Representing the debtor in multi-million dollar restructuring concerning a commercial building in Manhattan.

In re Gymboree, et al. (S.D.N.Y): Representing a defendant in a WARN Act action arising out of the sale of substantially all of Gymboree’s assets.

In re Sears Holdings Corporation, et al. (S.D.N.Y.): Serving as Special Counsel to the Official Committee of Unsecured Creditors charged with investigating potential estate claims and causes of action relating to a 363 sale of intercompany company notes and certain credit default swap transactions.

In re The Weinstein Company Holdings, LLC et al. (D. Del.): Representing Bank Hapoalim as appellee following the (i) successful opposition to the motion of debtors’ licensee to reject licensing contract to sell Project Runway clothing where bank client was secured by assignment of licensing royalties, and (ii) successful prosecution of a motion to enforce performance.

SunEdison, Inc.: Counsel to Reorganized SunEdison, Inc. concerning indemnity claims asserted by the syndication agent and lead arranger for a pre-petition second lien loan facility.

In re Toys “R” Us Inc., et al. (E.D.Va.): Represented Great Elm Capital Group, Inc. in connection with the prosecution of a plan objection regarding proposed disparate treatment of similarly situated creditors.