Creditors' Committees

  •  In re Airtronic USA, Inc.; represented five petitioning creditors in filing an involuntary chapter 7 proceeding against a manufacturer of rocket-propelled grenade launchers and other small arms, which company converted the case to a chapter 11. The unsecured creditors committee thereafter retained A&G, who assisted the committee in its investigation of the debtor's pre-filing transfers and operations and in negotiating plans of reorganization submitted by three different plan proponents. A&G ultimately obtained a 25% distribution for all unsecured creditors, a significant increase from the 5% distribution initially proposed.
  •  In re Enesco Group, Inc.; replaced prior counsel for the unsecured creditors committee on the eve of a pending sale of the Debtor's assets as a going concern, which business involved the design, manufacturing and marketing of licensed and proprietary branded giftware and home and garden décor products. Despite the late involvement in the case, A&G was able to help successfully negotiate additional concessions from the buyer and/or secured party which were favorable to the unsecured creditors, and then it assisted in supporting the approval of such sale of the Debtor's business for more than $50 million, which resulted in the satisfaction of virtually all secured claims, the assumption of more than 75% of the unsecured claims, and the preservation for later determination, of the validity of the secured creditor's claims and liens. Thereafter, A&G reviewed the secured party's claims and liens and then negotiated a settlement of the estate's alleged causes of action relating thereto, in return for a recovery for the estate of approximately $1.7 million.