Kramer Levin Receives M&A Advisor’s Corporate and Strategic Deal of the Year
New SEC Guidance on Five-Business-Day Tender Offers and Exchange Offers
We regularly represent groups of creditors in the largest and most complex bankruptcy cases across the nation. Through our regular representation of official committees of unsecured creditors and equity holders, unofficial creditor groups, bondholders and indenture trustees, the firm utilizes its experience and expertise to maximize recoveries to stakeholders and bridge gaps among diverse constituencies.
We believe that to be effective, creditor groups must take an active role in a restructuring or bankruptcy case. Through a combination of careful analysis, aggressive litigation and detailed negotiation, creditor committees that retain the firm quickly realize that their interests are thoroughly protected by advocates who are able to take the lead role necessary to bring a chapter 11 case towards an expeditious resolution. Committees represented by Kramer Levin have proposed and confirmed plans of reorganization, prosecuted viable estate causes of action, negotiated and litigated inter-creditor disputes, successfully challenged confirmation of non-consensual plans, terminated exclusivity to propose alternative creditor-sponsored plans and exponentially increased creditor recoveries. We are particularly adept at representing official committees that are comprised of diverse creditors including bondholders, indenture trustees, banks, trade claimants, unions, pension funds, landlords and individuals.
We have represented committees and multiple creditors in many of the largest and most complex restructurings and bankruptcy proceedings in recent years, including the official unsecured creditors’ committees of General Motors Corporation, Chrysler LLC, Capmark Financial, Cooper-Standard Holdings, Inc., Smurfit-Stone Container Corporation, Magna Entertainment Corporation, Dura Automotive Systems, Dana Corporation, Genuity, Inc., Leap Wireless, Adelphia Business Solutions, Bethlehem Steel, Big V, Vlasic Foods International, Pinnacle Towers, SGL Carbon, DeGeorge Financial Corporation, Omni Facilities, Morris Materials, Paging Network, Inc., London Fog, Olympia & York, Integrated Resources and Eastern Airlines. The firm currently represents or in the past has represented the official committee of equity holders in Footstar, Inc. and W.R. Grace & Co., and certain bondholders in Calpine Canada Finance ULC II, Sea Containers Ltd., Calpine Construction Finance Corporation (second lien bonds), Adelphia Communications Corporation (FrontierVision Bonds), ASARCO, Intelsat, WCI Steel, WorldCom, NorthWestern Corporation and WHC Corporation. In addition, Kramer Levin regularly is chosen as counsel to numerous agents and secured lenders in connection with chapter 11 proceedings.Representative agent bank, indenture trustee or bank group assignments include Tribune Company, Charter Communications, M. Fabrikant & Sons, Inc., Performance Transportation Services, Inc., Owens Corning, Northwest Airlines, United Air Lines, National Energy & Gas Transmission Corp., Mediq, Precision Custom Coating, Penn Fashions, Friedman’s Jewelers, Inc. and Jitney Jungle.