Kramer Levin represented Constellation Enterprises LLC and its subsidiary companies  including Columbus Castings Co., Jorgensen Forge Co., Commercial Metal Forming and Zero Manufacturing, the manufacturers of military, aerospace, rail and industrial specialty metal and molded plastic products  in the successful disposition of their assets. Following the initiation of Chapter 11 cases before the U.S. Bankruptcy Court for the District of Delaware in May 2016, the firm assisted the companies in a comprehensive marketing process that culminated in a three-day auction.

The sale of Columbus Castings Co. closed in September for $19.7 million in cash and the assumption of significant environmental liabilities. The sale of Jorgensen Forge Co., Commercial Metal Forming and Zero Manufacturing, which took place in November following a settlement of historic environmental liabilities involving Washington’s Lower Duwamish Waterway Superfund Site, included a $60 million credit bid by the companies’ prepetition secured noteholders and the assumption of various liabilities. The sales enabled the companies to transfer their businesses as ongoing concerns, and repay post-petition financing and significant portions of their prepetition-secured debt.