Insolvency & Creditors' Rights
Bradford Edwards & Varlack LLP’s represents creditors in insolvency proceedings. Our litigators excel at conducting investigations and litigation around specific transactions to assess whether breach of fiduciary duty claims or fraudulent transfer claims are warranted. We have represented creditors on matters including defense of fraud-related claims and preference transfers; trade creditors, landlords, and holders of intellectual property licenses; parties to credit facilities and intercreditor agreements; and subordination of claims and priority disputes. Our attorneys have also advised on a company-side out-of-court restructuring that returned value to shareholders, while protecting the parent company’s reputation and safeguarding team members’ employments.
- Representation of the committee liquidation trust of FTD in connection with an investigation of pre-petition transfers.
- Representation of a member of the unsecured creditors’ committee in In re Fusion Connect, Inc.’s Chapter 11 proceeding whose contributions increased recoveries for general unsecured creditors.
- Representation of a Toyota/General Motors joint venture in out-of-court restructuring, resulting in the sale of property, plant and equipment to Tesla Motors netting revenues 300% above liquidation value, payment of all regulatory obligations, restructuring of pension plan to ensure solvency, successful negotiation of payments to trade creditors, and substantial reduction of worker’s compensation portfolio by more than 60%. Key advisor to directors and senior management in the development and execution of strategic plans to monetize assets and maximize value for shareholders.
- Representation of individual shareholders in the Tribune Company Fraudulent Conveyance Litigation involving the trustee’s efforts to claw back billions of dollars from shareholders for the bankruptcy estate.
- Representation of a Big Four accounting firm related to whether a limited partner’s foreclosure on assets in the capital account of hedge fund’s general partner for failure to make capital contribution was a transfer for less than reasonably equivalent value under Uniform Fraudulent Transfer Act, Uniform Voidable Transactions Act, and the Bankruptcy Code.
- Representation of hedge fund “insider” in a fraudulent transfer claim brought by a bankruptcy trustee after the fund’s collapse.
- Representation of a multinational energy company regarding renegotiation, settlement or termination of trading relationships involving physical commodity contracts with debtor counterparties.
- Representation of bondholders, indenture trustees, members of official creditor’s committees, secured and unsecured creditors, energy trading companies, and suppliers in Chapter 11 proceedings.
- Representation of a multinational investment bank’s in Chapter 11 proceeding related to its merchant banking entities’ investments in the debtor.
- Representation of a multinational financial services company in connection with monitoring post-confirmation claims related to the sale of estate assets.
- Representation of a financial services company in connection with enforcing certain releases granted to a bank syndicate under a reorganization plan.
- Representation of a steel company as special counsel in connection with the sale of mining assets.
- Representation of a multinational energy company in a $7 million preference litigation related to payments it received from fuel sales to a debtor through a non-debtor affiliate.
- Represented investors in certain non-debtor subsidiaries of a waste-to-energy debtor to prevent the debtor’s inclusion of the subsidiaries’ assets as collateral to secure debtor-in-possession financing or use money from subsidiaries’ operations as cash collateral.