In re RLCH, Inc. (Bankr. E.D.N.Y.)
Serving as counsel to the Debtor that owns a seven-story mixed-use building with 23 residential apartments, a community facility, and parking spaces for automobiles and seeks to resolve certain litigation claims, complete repairs of the real property and the condominium approval process, and reorganize its business affairs under chapter 11 of the Bankruptcy Code.
In re Whiting Petroleum Corporation, et al. (Bankr. S.D. Tex.)
Representing indenture trustee for convertible noteholders in connection with Debtors’ bankruptcy cases.
Sears – Special Counsel to Creditors Committee
Acting as special counsel to the creditors committee in investigating and pursuing claims of wrongful conduct in connection with debtors' auction of MTN notes.
Sears Holdings Corporation, et al. v. Lampert, et al. (Bankr. S.D.N.Y.)
Serving as Co-Counsel to the Official Committee of Unsecured Creditors, on behalf of Debtors’ estates, in lawsuit asserting fraudulent transfer, breach of fiduciary duty, and related claims in connection with prepetition transactions totaling billions of dollars.
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.)
Representation of Cantor Fitzgerald Securities as (i) successor administrative agent and collateral agent under a $660 million first lien facility, (ii) the administrative agent and collateral agent under a $150 million DIP facility in connection with the chapter 11 case of Blackhawk Mining, and (iii) the administrative agent and collateral agent under an $85 million exit facility.
Weinstein Companies, LLC
Representing a bank in connection with a dispute over royalties payable under a licensing agreement.
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 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.
Counsel to Reorganized SunEdison, Inc. concerning indemnity claims asserted by the syndication agent and lead arranger for a pre-petition second lien loan facility.
Toys R Us
Represented a fund in connection with a dispute over treatment of claims in a Chapter 11 plan of reorganization of subsidiary debtors.
In re General Growth Properties (S.D.N.Y.)
Represented lending syndicate with $100 million loan on shopping center in multi-property chapter 11 case. Also represented New York Common Retirement Fund as participant in joint venture co-owned by debtors.
In Re 10-16 Manhattan Valley LLC
Represented plan proponent in a Chapter 11 case involving 34 apartment buildings in upper Manhattan. We confirmed a pre-packaged plan of reorganization in less than 90 days.
Debtor in Complex Commercial Real Estate Bankruptcy
Represented the debtor in a complex bankruptcy involving a closely held corporation whose main asset, a valuable Manhattan commercial property, had been placed under receivership prior to the chapter 11 filing. Our court confirmed reorganization plan resolved all disputes with shareholders and included a new $16.5 million mortgage loan used to satisfy all creditors.
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.
Schneider, et al. v. Pine Management, Inc., et al. (N.Y. Sup. Ct.):
Representing LLC property manager and majority LLC members in suit by minority LLC members alleging breach of contract and breach of fiduciary duty claims related to scope of manager’s authority to manage properties owned by LLCs.
Represented a defendant in an adversary proceeding alleging breach of warranties in the sale of mortgage loans.
Bankruptcy Chapter 11 Trustee – Bankruptcy & Sale of 4778 Broadway
Represented Donald F. Conway, the Bankruptcy Chapter 11 Trustee, in the sale of 4778 Broadway, in the Inwood section of Manhattan, to affiliates of the Housing Development Partnership Corporation and Maddd Equities, for 12.3 million, which was authorized by the Bankruptcy Court. Herrick provided strategic advice and counsel in marketing the site, analyzing potential zoning issues, environmental issues and transactional services.
Representing a lender in a foreclosure action on a condominium project in Brooklyn.
IRS Realty LLC and ISRS Realty LLC
Representing a bank as mortgage lender in Chapter 11 cases involving commercial real estate in Westchester County.
Settled an advisory proceeding against a landlord in a Chapter 11 case of an organic grocery store in Brooklyn.
Represented a vendor in connection with an adversary proceeding regarding ownership of goods shipped to the debtor.
Coyne International Enterprises Corp. – Restructuring
Represented Coyne International Enterprises Corp., a leading U.S. commercial laundry service company with nine plants and 15 service centers in 23 states, in a successful auction of its business operations to three industrial laundry companies as part of its Chapter 11 proceedings. The $49.8 million total sale value from the three buyers – Cintas Corporation, Prudential Overall Supply Company and Clean Uniforms and More! – represented a more than 50-percent premium on starting auction bids.
Intelsat Corporation – 11th Circuit Victory in Fraudulent Conveyance Litigation
Represented Intelsat in its victory in the 11th Circuit, capping a 7-year litigation during which Herrick's arguments on behalf of Intelsat were upheld at every step. The trustee of the PSN USA Liquidating Trust originally sought to recover more than $7 million in disputed payments. During the discovery phase of the case, Herrick established that approximately $4 million of the payments were indisputably valid, leading the trustee to drop that portion of his claim. As to the remaining $3 million, the 11th Circuit's decision confirmed the decisions of the bankruptcy court and the district court that the payments to Intelsat could not be clawed back.
Red Rock Services Trustee – Appellate Victory in Bankruptcy Litigation
Herrick secured an appellate victory for the chapter 7 trustee of bankrupt demolition subcontractor Red Rock Services, affirming a judgment of almost $1 million won in a bankruptcy adversary proceeding in the Eastern District of Pennsylvania. On behalf of the trustee, Herrick sued a general contractor for breach of its obligations under subcontracts with Red Rock in a pair of multimillion dollar construction projects in Baltimore and Boston. After eight days of trial, the trustee was awarded a judgment of almost $1 million, including attorneys' fees. Herrick defended the judgment on appeal to the district court, where it was affirmed, and went on to successfully defend the ruling on the defendant’s second appeal to the Third Circuit, which affirmed the judgments of the bankruptcy court and district court in their entirety.
Represented a defendant in adversary proceedings alleging preference and fraudulent conveyance claims.
Bridge Lender – Real Estate Debtor Bankruptcy
Represented the bridge lender in a single asset real estate debtor case in which Herrick successfully won default rate interest of 24% during the pendency of the debtor's chapter 11 case, where the non-default interest was 12% and the only default asserted was the filing of the debtor's bankruptcy case. Herrick also successfully defeated the debtor's reorganization plan that contemplated a cramdown of the client's mortgage debt, ultimately leading to a consensual chapter 11 plan in which the luxury high-rise condominium in Williamsburg securing the mortgage was transferred to our client.
Great Atlantic & Pacific Tea Company – Grocery Haulers Inc.
Representing major trade creditor in large supermarket reorganization. (S.D.N.Y.)
ALC Holdings LLC – Skin Care Provider
Represented official unsecured creditors committee of laser skin care provider. (D.Del.)
Intelsat – Sea Launch
Represented Intelsat Corporation in chapter 11 proceedings of satellite launch service provider (D.Del.)
Intelsat – Protostar
Represented Intelsat Corporation as successful purchaser of Protostar I satellite for $210 million in bankruptcy auction (D.Del.)
Intelsat – Bantel, LLC
Represented Intelsat Corporation in chapter 11 proceedings of a satellite telecommunications company (S.D. Fla.)
Distressed Debt Investor – Mezzanine Loan Foreclosure
Represented a distressed debt investor in foreclosing and conducting UCC secured party sale of portfolio of mezzanine loans securing repo line of credit obligations. One of the mezzanine loan borrowers sought to enjoin the sale; we defeated the TRO application and conducted the sale successfully over the borrower's objection.