Official Committees

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Overview

RK&O’s corporate restructuring attorneys have built an impressive professional reputation in representing official creditors’ committees in many of the nation’s largest and most complex, as well as in an array of significant middle market, chapter 11 bankruptcy cases.  Leading efforts to develop practical and innovative ways to harmonize the interests of various creditor constituencies in order to maximize creditor recoveries, RK&O’s corporate restructuring attorneys have been frequently selected by official creditors’ committees comprised of diverse creditor constituencies and involving a broad range of business sectors, including energy, hospitality, retail, commercial and residential real estate, medical supplies, technology and automotive. 

Experience

  • Official Committee of Unsecured Creditors of AES Eastern Energy LP, a subsidiary of The AES Corp., which owned six coal-fired electric generating plants located in New York State. As a part of the representation, the committee investigated the parent corporation of the debtor in connection with certain dividends paid to them prior to the bankruptcy filing that led to a settlement agreement, providing creditors with an additional $47 million of cash consideration, a waiver of over $60 million in claims and an initial distribution to unsecured creditors within a year of the bankruptcy filing.
  • Official Committee of Unsecured Creditors of Patriot Coal Corp, the third-largest bankruptcy of 2012. Patriot Coal Corp. was a leading producer and marketer of coal in the eastern United States, with 10 active mining complexes in Appalachia and the Illinois Basin and 1.8 billion tons of coal reserves. The committee was the principal advocate of unsecured creditors on all major facets of the case, an investigation of claims against Peabody Energy Corp. and Arch Coal Inc., related to retiree health care benefit liabilities exceeding $1.3 billion.
  • Official Committee of Unsecured Creditors of General Motors, the largest automobile manufacturer in the United States and the second-largest in the world, in the fourth-largest bankruptcy case in history.
  • Official Committee of Unsecured Creditors of Chrysler LLC, one of the most important and expedited Chapter 11 restructurings on record, and the seventh-largest bankruptcy in history.
  • Official Employment Related Issues Committee of Enron Corp. as the lead associate on the litigation team that pursued the recovery of over $53 million in accelerated deferred compensation payments made to top Enron management on the eve of its bankruptcy filing.
  • Official Committee of Unsecured Creditors of Extended Stay Inc., an international chain of over 680 mid-priced extended stay hotels, which had consolidated liabilities totaling approximately $7.6 billion when it commenced its chapter 11 reorganization.
  • Official Committee of Unsecured Creditors of PJ Finance Company, LLC, a real estate company engaged in the acquisition, ownership, operation, management, leasing, financing, mortgaging of 32 apartment communities comprising over 9,500 units located across the United States.  The company owed close to $500 million to creditors at the time of its filing.
  • Official Committee of Unsecured Creditors of Goodman & Dominguez d/b/a “Traffic Shoes”, a closely-held retailer of teenage and women’s fashion footwear, consisting of 83 mall-based stores in the United States and Puerto Rico which owed millions of dollars to the general unsecured creditors upon commencing its chapter 11 reorganization.

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