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OVERVIEW

Finance, Insolvency and Restructuring Litigation WHEN IT COUNTS

Barnes & Thornburg finance, insolvency and restructuring litigators advocate our clients' rights in bankruptcy court, trial court, and appellate levels in state and federal courts throughout the United States. We also represent clients in alternative methods for resolution of disputes outside the courtroom, through negotiation, arbitration, and mediation.

The range of legal practices among the firm's finance, insolvency and restructuring lawyers enables us to tailor the staffing of litigation to the size and specialized elements of each case. Our complement of litigators gives us the resources to commit an aggressive team when needed for complex cases and emergencies. We have developed systems for early evaluation of cases, case-management planning, and budgeting to enable us to conduct litigation in a manner focused on achieving our clients' objectives.

Our litigation support staff includes legal assistants, a licensed private investigator, research librarians, and computer specialists. These in-house capabilities reflect our continuing sensitivity to the ever-increasing need for sophisticated services while at the same time controlling the cost of litigation.

EXPERIENCE
  • A Barnes & Thornburg attorney represented a Commodity Futures Trading (CFTC) Receiver in implementing a Temporary Restraining Order (TRO) from the court and assisted with seizure of Melrose Asset Management’s and John Loftgren’s assets.

    http://www.cftc.gov/opa/enf02/opa4695-02.htm. (This matter occurred prior to the attorney joining Barnes & Thornburg LLP.)
  • A Barnes & Thornburg attorney represented the Official Committee of Unsecured Creditors of a convenience store chain in a case in the Second Circuit. The Court affirmed judgment for the Creditors, holding that Convenience Store’sinterest in letter of credit did not render it a secured creditor entitled to adequate protection. In re Dairy Mart Convenience Stores, Inc., 351 F.3d 86 (2d Cir. 2003). (This matter occurred prior to the attorney joining Barnes & Thornburg LLP.)
  • A Barnes & Thornburg attorney represented unsecured creditors of a major airline in a bankruptcy case in the Southern District of New York. The Court affirmed the bankruptcy court’s determination that debtors satisfied the financial requirements necessary to make a distress termination of pilots’ retirement plan. In re Delta Airlines, Inc., 2006 WL 3592334 (S.D.N.Y. 2006). (This matter occurred prior to the attorney joining Barnes & Thornburg LLP.)
  • Advised supplier to multiple related debtors and party to several executory contracts in Chapter 11 cases.
  • Assisted client in negotiating, documenting and securing approval of purchase of significant limestone reserves and other assets from Bankruptcy Estate. In re Smith Mining Materials, Inc., No. 06-30259 (Bankr. W.D. Ky. 2006).
  • Barnes & Thornburg attorneys represented a bank suing in Illinois state court under a financial institutions bond for coverage of losses on a $10 million loan that was issued to refinance a hotel. After defeating a dispositive motion filed by the insurance company, the bank obtained a settlement of its claim.
  • Barnes & Thornburg attorneys represented a fat and oil manufacturer prevailing at trial in an adversary proceeding pending in the United States Bankruptcy Court for the Western District of Michigan. Michigan Protein was sued by the Chapter 7 Trustee pursuant to section 549 of the Bankruptcy Code alleging that the debtor in possession was not authorized to make certain post-petition transfers in the amount of $834,314.45. After receiving evidence from a number of witnesses, the court entered judgment in favor Michigan Protein and held that the transfers were in the ordinary course of business and, thus, protected by Section 363(c)(1) of the Code. The case had been ongoing for a couple of years and involved application of two judicially developed tests, the horizontal and vertical tests, to determine whether the transactions were within the ordinary course.
  • Barnes & Thornburg attorneys successfully defended client from Trustee’s claims. By removing from bankruptcy court, we exercised right to jury trial and prevailed on summary judgment in state court. CLC Creditors' Grantor Trust v. Iwanski, No. 1:06cv4794 (N.D. Ill., filed Sept. 5, 2006).
  • Coordinated and filed involuntary bankruptcy case on behalf of utility client and asserted claims within bankruptcy case on client’s behalf.
  • Representation of automotive suppliers, aircraft lessor, health insurance provider, and governmental authorities with tax claims in Chapter 11 case of tier one automotive supplier.
  • Representation of bidder on and prospective purchaser of operating business units in Section 363 sale.
  • Representation of construction lien claimant/developer of multi-million dollar landfill in Chapter 11 cases of paper manufacturers.
  • Representation of defendants in numerous preference recovery cases filed throughout the United States, including Delaware, New York, Illinois, Michigan, Ohio, Arkansas and Arizona.
  • Representation of investment banking firm with administrative claims for services rendered during Chapter 11 case.
  • Representation of investors in bank development entities in Chapter 11 case of bank holding company.
  • Representation of landlord in Chapter 11 case, which included Section 363 sale of substantially all of the debtors' assets and business operations.
  • Representation of large automotive supplier in defense of preference action in Delphi Automotive Supply filed in the Southern District of New York Bankruptcy Court. Settlement for less than 1% of claim.
  • Representation of multiple parties as defendants in adversary proceedings brought on behalf of the bankruptcy estate to recover alleged preferential payments.
  • Representation of multiple suppliers as defendants in adversary proceedings brought on behalf of the bankruptcy estate to recover alleged preferential payments.
  • Representation of numerous parts supplier in Chapter 11 case of tier one automotive parts supplier.
  • Representation of Official Unsecured Creditors Committee in MMC Precision Holdings Chapter 11 Case filed in Delaware Bankruptcy Court. Confirmed creditors' plan providing for payment of all administrative claims and reservation of litigation against former shareholders for creditors' trust.
  • Representation of parts suppliers and governmental authorities with complex secured and unsecured tax claims in Chapter 11 case of orignal equipment manufacturer.
  • Representation of parts suppliers and governmental authorities with tax claims in Chapter 11 case of original equipment manufacturer.
  • Representation of party to pre-petition business purchase and sale transaction, as holder of unpaid note, indemnity and other claims against Chapter 11 debtor involved in Section 363 sale.
  • Representation of pre-petition supplier of services in adversary proceeding brought on behalf of the bankruptcy estate to recover alleged preferential payments.
  • Representation of state district court in Chapter 9 case of municipality.
  • Representation of supplier of services in Chapter 11 case with contractual claim against holding company and quantum meruit claim against bank operating subsidiary.
  • Representation of suppliers under executory contracts for supply of goods, including post-petition treatment as critical vendors in Chapter 11 case.
  • Represented automotive supplier to key Detroit automakers in business restructuring and refinance transaction involving negotiation of agreements and accommodations with multiple constituencies, and documentation of refinancing transaction, business restructuring transactions and agreements with customers and suppliers in order to accomplish out of court resolution of multiple business and financial issues.
  • Represented financer of over 1500 leases between debtor and its customers in connection with assertion of claims against the debtor and financer, and with resolution of class action lawsuits lodged by customers of debtor throughout the U.S.
  • Represented key supplier and creditors’ committee member in connection with sizeable claims and obligations. Negotiated resolution of preferential transfer claims asserted against client.
  • Represented lessor of equipment in Chapter 11 case.
  • Represented supplier of goods and lessor of equipment in Chapter 11 case, involving numerous executory contracts, claims under Section 503(b)(9), and a Section 363 sale.
  • Served as receiver in a commodity fraud case at the request of the Commodity Future Trading Commission. Appointed by Federal District Court for the Northern District of Illinois. Responsibilities included discovering hidden assets, review claims of investors, preserving and liquidating assets and recommending distribution to District Court.
PROFESSIONALS

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