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.

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. 

Intelsat – Tribune Company

Representation of Intelsat Corporation in Chapter 11 proceedings of a diversified media company. (D. Del.)

Intelsat – Equity Media Holdings Corp.

Representation of Intelsat Corporation in connection with Chapter 11 proceedings of a television station operator. (E.D. Ark.)

Bridgestone Tire – General Motors Corporation

Represented Bridgestone Tire in the Chapter 11 proceedings of General Motors Corporation. (S.D.N.Y.)

Bridgestone Tire – Chrysler LLC

Represented Bridgestone Tire and Colorado dealers in the Chapter 11 proceedings of Chrysler LLC. (S.D.N.Y.)

DNL Industries LLC – Chapter 11 Proceedings

Representation of DNL Industries LLC, an emerging technology company, in its Chapter 11 restructuring.

ALC Holdings LLC

Representation of official unsecured creditors committee of laser skin care provider. (D.Del.)

Great Atlantic & Pacific Tea Company – Grocery Haulers Inc.

Representing major trade creditor in large supermarket reorganization. (S.D.N.Y.)

Terse Star Corp.

Representation of Hughes Network Systems LLC in telecommunications reorganization. (S.D.N.Y.)

Intelsat – Sea Launch

Representation of 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

Representation of Intelsat Corporation in chapter 11 proceedings of a satellite telecommunications company (S.D. Fla.).

Citicorp el al. – General Growth Properties Inc.

Representation of Oakwood lender group in chapter 11 proceedings of diversified mall property operator (S.D.N.Y.)

Berry-Hill Galleries – $20 Million Mortgage

Representation of Berry-Hill Galleries, a prominent New York art gallery, in a $20 million mortgage secured by the company's real estate. (Prior firm experience)

RFR Holdings – Salander-O’Reilly Galleries Bankruptcy

Representation of RFR Holdings, LLC, the landlord for the Salander-O'Reilly Galleries, which was in Chapter 11. Filed motion for relief from stay and successfully obtained possession of leased premises for landlord. (Prior firm experience)

Intelsat – Verestar Bankruptcy

Representation of Intelsat Ltd. in connection with its $15 million of unsecured claims and defended $3.5 million of preference claims, which were resolved through negotiation on favorable terms to Intelsat. (Prior firm experience)

Berry-Hill Galleries – Chapter 11

Representation of equity holders of a prominent New York art gallery in connection with the negotiation and documentation of a Chapter 11 plan and exit financing, including a $35 million exit financing facility. (Prior firm experience)

Grace Industries – Bankruptcy Acquisition

Representation of the successful bidder for Grace Industries, a New York City-based asphalt contractor. Negotiated the purchase agreement with the debtor and the creditors' committee and obtained bankruptcy court approval for the transaction. (Prior firm experience)

Honeywell – North American Refractories Bankruptcy

Representation of Honeywell in the Chapter 11 proceedings of North American Refractories Company, an asbestos case. The plan of reorganization for NARCO was confirmed in 2007; it is currently on appeal to the United States District Court for the Western District of Pennsylvania. (Prior firm experience)

American Marine Holdings – $35 Million Refinancing

Representation of American Marine Holdings in connection with the refinancing of a Fleet Capital loan with a new $35 million loan from First Capital, LLC. (Prior firm experience)

Parmalat USA – Chapter 11

Representation, as co-counsel, of US affiliates of the international Parmalat group in their Chapter 11 proceedings. Case resulted in a successful restructuring from a business and financial perspective. As co-counsel, led the effort to negotiate and obtain cash collateral and DIP financing and restructure all secured debt. Also led effort to investigate and pursue fraudulent conveyance claims against existing lenders, which were successfully satisfied as part of the plan of reorganization. Also ran the investigation into billion-dollar plus claims against Parmalat's Italian parent corporation, and resolved claims of equal magnitude asserted by the parent corporation and its affiliates against the US entities. Lead lawyer for contested Chapter 11 confirmation trial.  (Prior firm experience)

IESI Corporation – $950 Million Sale

Representation of IESI, an integrated waste management company, in its sale to BFI Canada, a Canadian public company, for approximately $950 million. (Prior firm experience)

Bayside Capital – $50 Million Bankruptcy Acquisition of Sola Communications

Representation of Bayside Capital LLC in its $50 million acquisition of Sola Communications LLC in the bankruptcy court for the Western District of Louisiana.  (Prior firm experience)

Yum! Brands – Hearth Management Group Mediation

Representation of Yum! Brands, Inc. and subsidiaries Taco Bell, KFC and Pizza Hut in adversary proceedings arising out of a breach of contract claim. Plaintiffs originally sought in excess of $25 million in damages. Case successfully resolved through mediation for a nominal amount.  (Prior firm experience)

Presstek – 363 Acquisition of AB Dick Company

Representation of Presstek, Inc., a leading manufacturer and marketer of high-tech digital imaging solutions, in its acquisition via 363 sale of AB Dick, a graphic arts equipment and supplies business. Negotiated acquisition agreement and DIP financing, led litigation team in discovery and contested hearings. Won approval for acquisition over creditors' committee objections and won all appeals arising from the case. (Prior firm experience)

American Marine Holdings – Sale of Minority Interest

Represented American Marine Holdings in connection with the sale of a minority interest to a private equity investor. (Prior firm experience)