Committee Representations

Debtor Representations

Trustee/Examiner Representations

General Bankruptcy Representations

Munger, Tolles & Olson LLP has an extremely diverse, nation-wide bankruptcy practice, representing  creditors’ and bondholders’ committees, debtors, trustees, examiners, receivers, secured creditors, unsecured creditors, purchasers of assets out of bankruptcy, and companies involved in bankruptcy and bankruptcy-related litigation.

Over the last few years, the firm has handled large, complex bankruptcy matters in a significant number of industries, including apparel, consumer products and services, e-commerce, technology and intellectual property, energy/oil & gas, entertainment, finance, healthcare, real estate and retail.  In addition, MTO has handled a number of bankruptcy cases involving fraud and complex civil litigation, including shareholder derivative suits and consumer class actions.

The practice is not limited to pending bankruptcy cases.  Indeed, the firm often is called upon to help structure transactions and settlements to reduce bankruptcy risks and to negotiate out of court workouts and restructurings.  The firm has been involved in a large number of pre-packaged and pre-negotiated bankruptcy cases as well.

Among other notable engagements, MTO recently represented the Creditors’ Committee in the bankruptcy case of Coho Energy, Inc. and important constituents in the Covanta, Enron, Finova, Fruit of the Loom, Seitel and Oakwood Housing bankruptcy cases.  The firm also represents a number of investor funds in various bankruptcy cases pending throughout the country, including the Sun World International, Inc. and Clift Hotel, LLC. bankruptcy cases.  The firm restructured Southern California Edison debt, and represented SCE as a creditor in the ICG, United Airlines and CalPx bankruptcy cases.  MTO’s bankruptcy department also was involved in the purchase (and later sale) of an entertainment-related company out of bankruptcy, restructured joint venture arrangements involving themed restaurants and water parks, and was active in several matters (in and out of bankruptcy) involving complex mass tort litigation and government regulation.

Other cases in which MTO has played a prominent role within the last few years include:

• Alliance Entertainment (entertainment)
• Ameriserve (distributor)
• California Power Exchange (energy)
• Coho Energy, Inc. (oil & gas)
• Consolidated Industries Corp. (consumer products)
• Daewoo Motor (consumer products)
• FINOVA (financial services)
• Kmart (consumer products)
• Livent (entertainment)
• LUZ International, Limited (energy)
• MedPartners Provider Network, Inc. (healthcare)
• Metricom (telecommunications)
• Network Access Solutions (technology)
• Northpoint Communications (telecommunications)
• Pathmark (consumer products and retail)
• Pocket Communications (telecommunications)
• Prime Succession, Inc. (consumer services)
• Quasar Engineering, Incorporated (engineering and construction)
• Resort Theaters of America (cinema)
• Southern Pacific Funding Corp. (finance)
• The Sirena Apparel Group, Inc. (apparel)
• Thermatrix (technology)
• United Airlines (transportation)
• Wilshire Center Marketplace (real estate)

Our bankruptcy department is led by Mark Shinderman, who is a frequent lecturer at bankruptcy and distressed investing conferences throughout the country and has authored more than twenty articles on bankruptcy-related issues.  In 2000, 2002 and again in 2003, Mark was recognized by Turnarounds & Workouts as one of the 12 outstanding bankruptcy lawyers nationwide under 40 years of age.

Generally, the Firm's bankruptcy representations can be broken down into four groups: (1) committee representations, including bondholders' committees and unsecured creditors' committees; (2) debtor representations; (3) trustee representations; and (4) general bankruptcy representations.  The following list provides several examples of each.

Committee Representations

• C.R. Anthony Company
• Calton Homes
• Farley Inc.
• Grant Broadcasting Company
• Kent & Spiegel Direct Marketing
• Martin Lawrence Limited Editions, Inc.
• Mid Republic Energy Company
• Pay N' Pak Stores, Inc.
• Qintex Entertainment, Inc.
• Southern Pacific Funding Corporation
• SPI Holding, Inc.
• The Washington Corp.

Debtor Representations

• Homefed Corporation (Special Counsel)
• Oricom
• Pan Pacific Fisheries Holdings, Inc.
• Pants by Gosh, Inc.

Trustee/Examiner Representations

• American Adventure, Inc.
• American Investments and Financial Group (Receiver)
• Itel Corporation (Examiner)
• Nucorp Energy
• Positive Power Products, Inc.
• Sourcecom Corporation

General Bankruptcy Representations

Bear, Stearns & Co. Inc.

• Recapitalization of Tosco Corporation, including public offering of First Mortgage Bonds and Convertible Preferred Stock through Bear, Stearns & Co. Inc.

Beverly Hills Business Bank

• Ashkenazy Enterprises, Inc., Chapter 11 case
• 9289 Burton Co. (L'Ermitage Hotel)
• Burbank Executive Plaza, Chapter 11 case

Kearny Street Real Estate Company, L.P.
(successor in interest to the $1.5 billion
Bank of America troubled loan portfolio)

• Anaheim Hilton Hotel - Workout of $125 million loan secured by Anaheim Hilton Hotel
• Bixby Knolls/Long Beach Corporate Square - Workout of $20 million loan secured by commercial high rise complex in Long Beach
• Leisure Village of Ocean Hills - Borrower bankruptcy -- $18 million loan secured by retirement community development site in Orange County Robacor Bankruptcies: $50 million loaned to developer secured by commercial properties throughout the Pacific Northwest
• Twenty-Seven MH, Inc. and Madison Square Development - Workout of $30 million loan secured by real properties located in Arizona and Southern California

Mitsubishi Trust and Banking Corporation

• $650 million secured claim in the Maruko, Inc. bankruptcy with bankruptcy cases simultaneously pending in Japan and the United States

Southern California Edison Company

• El Paso Electric Co. Chapter 11 case

Teachers Insurance and Annuity Association (TIAA)

• Vision Hardware, Inc. reorganization
• ANCRA International, Inc. Chapter 11 case
• Crescent Jewelers reorganization

Teacher Retirement Systems of Texas and Alaska Permanent Fund

• $44 million secured loan in Westwood Place Chapter 11 case

Zell/Chilmark Fund, L.P.

• Representation of Fund in tender offer for trade and public indebtedness of Carter Hawley Hale Stores, Inc.

In addition, the firm has represented a number of entities that have purchased assets from a bankruptcy estate and/or were involved in bankruptcy-related litigation, including:

• Allegheny Teledyne, Inc.
• Aqualine Controls L.L.C.
• Berkshire Hathaway
• Dornier Luftfahrt GmbH
• GKN Westland Aerospace (North America) Inc.
• JBA International, Inc.
• Merrill Lynch & Co., Inc.
• New Plan Realty Trust
• PaineWebber, Inc.