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.
Successfully defended an international manufacturer against a complex, multi-million dollar breach of contract claim brought by a U.S. trading company involving the sale of petrochemicals, including an award of attorneys’ fees, expenses and costs. The case primarily concerned whether a contract was formed under the UN Convention on Contracts for the International Sale of Goods (the CISG) or the UCC. The representation included a seven-day trial involving multiple fact and expert witnesses.
Counsel to Reorganized SunEdison, Inc. concerning indemnity claims asserted by the syndication agent and lead arranger for a pre-petition second lien loan facility.
Representing minority LLC member in derivative action against majority LLC members serving on board and their affiliated lender funds asserting claims for breaches of fiduciary duty and aiding and abetting such breaches.
Herrick regularly represents NFP, a national insurance brokerage and consulting firm, in connection with a pre-litigation disputes and litigation.
Represented Kenneth Orr and certain KORR entities, significant shareholders and creditors of the debtor in the In re Charge Enterprises, Inc. Chapter 11 case in the Bankruptcy Court for the District of Delaware. The Debtor commenced its Chapter 11 case with a prepackaged plan negotiated with its prepetition secured lender and sought confirmation of that plan – which provided for the Lender to receive 100% of the equity in post-reorganization Charge – within 48 days of the bankruptcy filing. Prior to the Chapter 11 case, Charge had described in its SEC filings certain aggressive acts by the Lender that hindered Charge’s ability to refinance its debt to the Lender and increased the size of the debt purportedly owed by Charge, which led to the Charge’s inability to repay the notes at maturity. But, in its first-day Chapter 11 filings, the Debtor looked to blame KORR for its predicament, claiming that a separate dispute with KORR over illiquid investments Charge made with KORR left Charge with insufficient liquidity to repay the Lender notes. That dispute was the subject of a separate New York State Court litigation commenced by Charge while negotiating its restructuring with the Lender. In the limited time available in the Chapter 11 case, Herrick engaged in a strategy of attacking the Debtor and its Lender’s proposed restructuring on several fronts. Ultimately, KORR reached a settlement of all its disputes with Charge and the Lender, which was a positive result for Herrick’s client as well as for the Debtor and its estate. The plan and disclosure statement were approved pursuant to the Confirmation Order.
Representing the Official Retiree Committee in the Chapter 9 bankruptcy of Chester, Pennsylvania.
