Creditors and Other Parties-In-Interest

  •  In re Federal Mogul, In re USG Corporation, In re Armstrong World Holdings, Inc.; represented insurance company that had issued surety bonds with potential exposure exceeding $180 million for asbestos claims asserted against three debtors in three separate large chapter 11 cases pending in a Delaware bankruptcy court. A&G helped lead and coordinate with the three debtors and other sureties, for a single consolidated adversary proceeding that sought declaratory relief against the obligee under all of the surety bonds. Following a favorable summary judgment ruling that A&G helped achieve, A&G was able to assist the insurer in successfully obtaining settlements with the obligee that resulted in a decrease of the insurer's exposure under the surety bonds by more than 85% of the bonds' original penal sums.
  •  In re Centrix Financial, et al.; represented three credit unions that had made loans for, and were creditors of, an auto finance company in a chapter 11 case in a Denver bankruptcy court. A&G helped lead and coordinate a global settlement for more than 100 other similarly situated credit unions with the debtors and its creditors committee that enabled (a) the debtors to successfully sell its business as a going concern, (b) the credit unions to keep their original debtor financing arrangements in place with the new buyer, and (c) the preservation and allowance of the claims of the credit unions against the debtors. As a result of A&G's efforts, the bankruptcy court awarded A&G its fees for having made a substantial contribution in the case.
  •  In re Kmart Corp., et al; represented an insurance company that had issued various surety bonds to debtor, in connection with debtor's chapter 11 reorganization case. A&G helped successfully lead the negotiations amongst several other surety bond issuers with debtor, for the implementation and court approval of a surety bond program between debtor and its insurers that provided new collateral and other protections for the insurers.
  •  In re Gabriel Sales Co. of Oak Park, Inc.; represented creditor that prior to A&G's involvement provided unsecured credit to the debtor, a seller of new and used auto parts, and financed the debtor's operations for the benefit of the debtor's secured lender. Assisted debtor in reaching agreement with the debtor and the secured lender to sell assets through a 363 sale with creditor as the stalking horse bidder and forego the debtor's then-current efforts to confirm a plan. Helped creditor successfully both obtain order approving secured financing to the debtor and consummate purchase of debtor's assets through a 363 sale.
  •  In re Steven Thomas Racz; represented judgment creditor with multi-million dollar judgment against individual who filed chapter 7 bankruptcy. Through series of Bankruptcy Rule 2004 examinations, depositions, other discovery and investigation, A&G determined that the debtor was not eligible for a discharge. A&G filed an adversary proceeding on behalf of the creditor to challenge discharge, and eventually caused the debtor to relinquish his discharge before going through trial. A&G thereby preserved the viability of the judgment, and assisted the creditor in pursuing post-bankruptcy collection of the judgment.