Served as local and conflicts counsel to the Unsecured Creditors Committee in the chapter 9 bankruptcy of a public hospital district, which had two hospitals and multiple urgent care and outpatient facilities and approximately $370 million of secured and unsecured debt. A contentious case, the debtor filed a liquidation plan proposing virtually no distribution to unsecured creditors. Bush Kornfeld filed an objection to confirmation on the basis that a comprehensive prepetition financing arrangement the debtor had entered into was void under state law and could not be the basis for conveying value under the proposed plan. Thereafter, a settlement was reached in which several million dollars of value was transferred to a liquidation trust for the benefit of unsecured creditors.
(Eastern District, Washington) Representation of largest creditor in the Chapter 11 bankruptcy of 47 Hops, LLC, Case No. 17-02440 (E.D. Wash) and helped negotiate a settlement with the debtor pursuant to which a Chapter 11 trustee was appointed to operate and/or liquidate the debtor’s assets and investigate claims for the benefit of the estate.
Creditor representation in litigation defense of a protracted and complex avoidance action in Chapter 11 of co-borrower, resulting in an ultimate settlement approved by the court.
Ch. 11 Served as court-appointed representative for the interests of future tort claimants consisting of victims of childhood sexual abuse that had not discovered the link between their injuries and such abuse at the time of the debtor’s bankruptcy filing.
Representation of Committee in Chapter 11 of one of the largest crane distributorships in the West Coast. The unsecured creditors in the case received an exceptional dividend even though the secured creditors were not paid in full. Payments were made to unsecured creditors within a few months of commencement of the bankruptcy proceeding.
(Anchorage) Served as counsel for aircraft lessor to debtor Peninsula Airways, Inc. in negotiating adequate protection and relief from stay.
Representation of non-profit dedicated to the study, research and public appreciation of coins, currencies, medals in purchase of assets in the Chapter 11 bankruptcy of In re Northwest Territorial, Mint, LLC.
Representation of successful purchaser of assets in the Nichols Brothers Boat Builders, Inc. Chapter 11 bankruptcy, Case No. 07-15522.
Representation of Committee in Chapter 11 of long standing company that manufactured, installed, and serviced underground tanks in the Pacific Northwest. Obtained court approval to allow the Committee to pursue litigation against insiders. After significant litigation, the matter settled for a substantial amount which funded a distribution to creditors.
Representation of Committee, negotiating distribution to unsecured creditors upon recapitalization of the company.
Representation of Committee in achieving distribution of approximately 50% where no distribution had been anticipated at the outset.
Representation of creditor in the Critical Power Exchange, LLC Chapter 11 bankruptcy in successfully obtaining relief from stay to proceed with state court litigation against the debtor.