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.
Centennial Bank – $120 Million Miami Construction Loan
Represented Centennial Bank in the $120 million construction loan for property located at 400 Biscayne Boulevard in Miami. The planned development includes a 49-story tower with 646 luxury rental apartments, 51,000 square feet of commercial space and a 22,000 square foot church for the First United Methodist Church of Miami.
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.
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.
Weinstein Companies, LLC
Representing a bank in connection with a dispute over royalties payable under a licensing agreement.
Represented a vendor in connection with an adversary proceeding regarding ownership of goods shipped to the debtor.
Represented a defendant in adversary proceedings alleging preference and fraudulent conveyance claims.
Represented a defendant in an adversary proceeding alleging breach of warranties in the sale of mortgage loans.
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.
ALC Holdings LLC – Skin Care Provider
Represented 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.)
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.).
Citicorp el al. – General Growth Properties Inc.
Represented Oakwood lender group in chapter 11 proceedings of diversified mall property operator (S.D.N.Y.)
Berry-Hill Galleries – $20 Million Mortgage
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
Berry-Hill Galleries – Chapter 11
Grace Industries – Bankruptcy Acquisition
Honeywell – North American Refractories Bankruptcy
American Marine Holdings – $35 Million Refinancing
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
Bayside Capital – $50 Million Bankruptcy Acquisition of Sola Communications
Represented 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
Presstek – 363 Acquisition of AB Dick Company
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)