Bankruptcy & Restructuring
Unsecured Creditors’ Committees
Sections
Overview
Seward & Kissel represents unsecured creditors’ committees in Chapter 11 proceedings across a broad range of industries, including hospitality, real estate, energy, manufacturing, solar, crypto, food and beverage, and maritime, among others.
The firm advises and advocates on behalf of committees with a focus on protecting creditor rights and maximizing recoveries.
In these matters, Seward & Kissel advises committees on issues including debtor in possession financing, the use of cash collateral, section 363 sales, director and officer liability, avoidance and preference actions, and the negotiation and confirmation of plans of reorganization or liquidation.
Capabilities
Related Practice Areas
Representative Work
- A.B.C. Carpet Co., Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of A.B.C. Carpet Co., Inc. and its affiliates. Advising the committee through a sale process that preserved liquidity and claims for unsecured creditors, conducted an expedited investigation of potential claims, and negotiated a consensual resolution of objections to the proposed sale.
- SC SJ Holdings, LLC. Representing the official committee of unsecured creditors in the Chapter 11 cases involving the former Fairmont San Jose hotel and conference center. Through litigation and negotiations, increased recoveries for unsecured creditors under the plan of reorganization, addressed administrative solvency issues, and supported a competitive marketing process that resulted in a new hotel branding and management agreement.
- Furniture Factory Ultimate Holding, L.P. Representing the official committee of unsecured creditors in the Chapter 11 cases of Furniture Factory Ultimate Holding, L.P. and its affiliates. Negotiating funding for an investigation and creditor recoveries and assisting in the development of a plan establishing a liquidating trust for the benefit of unsecured creditors.
- PQ NY, Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of PQ New York, Inc. and its affiliates, operators of restaurants under the Le Pain Quotidien brand. Advising the committee in negotiations that preserved the business as a going concern, increased the purchase price, and preserved claims for the benefit of unsecured creditors.
- Schurman Retail Group. Representing the official committee of unsecured creditors of Schurman Retail Group, the operator of Papyrus retail locations. Negotiating a cash collateral order that preserved estate claims and conducting an investigation leading to a favorable settlement with the former equity sponsor.
- Suniva, Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of a solar energy company seeking trade protection. Advising on debtor in possession financing, litigation with secured lenders, and the confirmation of a plan of reorganization.
- Gracious Home LLC. Representing the official committee of unsecured creditors in the Chapter 11 cases of a New York-based home goods retailer. Advising on debtor in possession financing, asset sales, and the investigation and settlement of estate claims for the benefit of creditors.
- TMT Procurement Corporation. Serving as co-counsel to the official committee of unsecured creditors in contested Chapter 11 cases involving a shipping company. Advising on cash collateral, debtor in possession financing, fleet operations, and a structured liquidation through global section 363 vessel sales.
- North Texas Bancshares, Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of bank holding companies. Advising in connection with a sale process that resulted in an increased purchase price and improved recoveries for unsecured creditors.
Related Practice Areas
Representative Work
- A.B.C. Carpet Co., Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of A.B.C. Carpet Co., Inc. and its affiliates. Advising the committee through a sale process that preserved liquidity and claims for unsecured creditors, conducted an expedited investigation of potential claims, and negotiated a consensual resolution of objections to the proposed sale.
- SC SJ Holdings, LLC. Representing the official committee of unsecured creditors in the Chapter 11 cases involving the former Fairmont San Jose hotel and conference center. Through litigation and negotiations, increased recoveries for unsecured creditors under the plan of reorganization, addressed administrative solvency issues, and supported a competitive marketing process that resulted in a new hotel branding and management agreement.
- Furniture Factory Ultimate Holding, L.P. Representing the official committee of unsecured creditors in the Chapter 11 cases of Furniture Factory Ultimate Holding, L.P. and its affiliates. Negotiating funding for an investigation and creditor recoveries and assisting in the development of a plan establishing a liquidating trust for the benefit of unsecured creditors.
- PQ NY, Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of PQ New York, Inc. and its affiliates, operators of restaurants under the Le Pain Quotidien brand. Advising the committee in negotiations that preserved the business as a going concern, increased the purchase price, and preserved claims for the benefit of unsecured creditors.
- Schurman Retail Group. Representing the official committee of unsecured creditors of Schurman Retail Group, the operator of Papyrus retail locations. Negotiating a cash collateral order that preserved estate claims and conducting an investigation leading to a favorable settlement with the former equity sponsor.
- Suniva, Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of a solar energy company seeking trade protection. Advising on debtor in possession financing, litigation with secured lenders, and the confirmation of a plan of reorganization.
- Gracious Home LLC. Representing the official committee of unsecured creditors in the Chapter 11 cases of a New York-based home goods retailer. Advising on debtor in possession financing, asset sales, and the investigation and settlement of estate claims for the benefit of creditors.
- TMT Procurement Corporation. Serving as co-counsel to the official committee of unsecured creditors in contested Chapter 11 cases involving a shipping company. Advising on cash collateral, debtor in possession financing, fleet operations, and a structured liquidation through global section 363 vessel sales.
- North Texas Bancshares, Inc. Representing the official committee of unsecured creditors in the Chapter 11 cases of bank holding companies. Advising in connection with a sale process that resulted in an increased purchase price and improved recoveries for unsecured creditors.
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