Even though corporate bankruptcies are declining, many companies still face an uncertain future. If you’re among them, you may have questions. Should you reorganize under Chapter 11 or pull the plug under Chapter 7? And what about your assets? How will they be divided between secured and unsecured creditors, and stockholders?
The corporate bankruptcy attorneys at Schafer and Weiner excel at developing solutions that help you continue operations. We can even help you secure emergency financing and craft unexpected compromises between parties. Representative matters include:
- Lead counsel in the Chapter 11 of In re Greektown Casino, LLC (2008), representing debtor in all aspects of Chapter 11, including the construction of an expanded 400-room hotel and casino resort complex, obtaining up to $150 million in emergency financing and an additoinal $100 million in debtor-in-possession financing for final stage of construction and continued operations, and negotiating payments and lien disputes with general contractor and sub-contractors.
- Counsel to successful buyer in Chapter 11 of ECOtality North America, a clean electric transportation firm that filed for Chapter 11 bankruptcy protection on September 16, 2013 in Phoenix, Arizona for the purpose of conducting a highly expedited auction and sale of substantially all of its assets. Schafer and Weiner was immediately retained by the client to make a bid for the assets pursuant to the auction procedures approved by the Bankruptcy Court. At the auction held on October 8, 2013, the client was the successful bidder for the “Blink Network” for $3,335,000. After the auction, the firm negotiated the final terms of a complex Asset Purchase Agreement, which was approved by the Court the next day. Closing of the sale occurred on October 16, 2013, just over one (1) month from the filing of the Chapter 11 cases and Schafer and Weiner’s engagement.
We stand shoulder to shoulder with you throughout your toughest times.