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Unsecured Creditors’ Committees and Other Creditor Representation

Overview

Schwabe is skilled in assisting Unsecured Creditors’ Committee (UCC) members in understanding their fiduciary duties, potential conflicts of interest, committee business, process, and other functions.

A UCC provides a concerted voice for all unsecured creditors, ensuring that no one voice is ignored. The members of the UCC are appointed by the Office of the United States Trustee and serve as an important party to the Chapter 11 process, working to ensure the integrity of the bankruptcy process. Schwabe understands and appreciates the dynamic the UCC brings to the reorganization process and is adept at determining how and when the UCC can best leverage its broad rights and responsibilities to steer the course of reorganization.

Experience

  • Represented the Official Committee of Unsecured Creditors in the TC Global (Tully’s Coffee) Chapter 11 matter, which resulted in a lucrative auction of the company’s assets for the benefit of creditors.
  • Assisted the founder and largest creditor of Conenza, Inc. in acquiring the company, preserving its going concern value and saving company contracts and the employees’ jobs.
  • Represented the Official Committee of Unsecured Creditors related to a large real estate development company that was hiding assets and taking other actions to the detriment of creditors, successfully pursuing the appointment of a Chapter 11 trustee and the liquidation of the company and its assets for the benefit of creditors.
  • Represented the Official Committee of Unsecured Creditors related to a telecommunications and marketing debtor, ultimately negotiating terms of a plan of reorganization providing for the sale of the company on favorable terms and the creation of a Plan Administrator to administer claims, liquidate certain assets and pursue litigation solely for the benefit of unsecured creditors.
  • Represented a creditor in the Lehman Brothers’ bankruptcy in a case involving complex legal issues relating to the characterization of swaps under bankruptcy laws.
  • Served as local counsel to the ground lessor in the Chapter 9 bankruptcy of a public hospital district.
  • Counseled various financial institutions regarding their secured and unsecured claims in numerous Chapter 7 and Chapter 11 bankruptcy matters.
  • Represented a cattle farmer/seller in enforcement of its lien rights in the Oregon receivership of a meat processor/buyer.

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