Legal Services

Bankruptcy, Restructuring, and Insolvency Litigation

ABOUT THE BANKRUPTCY, RESTRUCTURING, AND INSOLVENCY LITIGATION GROUP

Efficient Delivery of Results in Sophisticated Matters

Archer’s Bankruptcy, Restructuring, and Insolvency Litigation Group provides sophisticated counsel to domestic and foreign clients in all types of insolvency and litigation matters. Chambers USA ranks the Group as one of the best in the region, representing an impressive roster of clients, noting that “our sources underline the group as being a tightly run unit that is easy to deal with.” It has “solid experience in representing trustees, creditors’ committees and debtors.” The Group has been noted as being “very cost-effective” for clients who want high level representation in complex matters, as the Group is regularly involved in some of the largest, high profile bankruptcy matters. It is also strongly suited to efficiently handle middle-market cases for debtors, trustees, committees, fiduciaries, creditors, investors, and other constituencies striving for that delicate balance between result and cost.

With the recent addition of attorneys from the New York based, boutique law firm of DiConza Traurig Kadish LLP, the Group has added skilled corporate restructuring attorneys and litigators with a wealth of experience in the Bankruptcy Courts in the Southern and Eastern Districts of New York.

The Group is strategically positioned in the busiest bankruptcy venues in the United States, with partners resident in Wilmington, Delaware and New York City. The Group has extensive experience representing creditor committees, debtors, purchasers, trustees and other bankruptcy participants in Delaware, New York, New Jersey, Philadelphia, and other courts throughout the country.

Chambers USA praises Group Chairman Stephen Packman for his “unique, reassuringly confident perspectives that are the result of years of experience” and as “a results-driven tactician and outstanding strategist.” Mr. Packman is an inaugural Fellow of INSOL, the international association of over 10,000 world-wide restructuring professionals. He has represented parties in bankruptcy and litigation proceedings throughout the USA and abroad and has considerable experience in cross-border insolvency, business and litigation matters. He has represented various foreign debtors in contested chapter 15 proceedings and regularly represents committees nationwide.

Chambers USA describes Group Vice-Chair, David Carickhoff as “very thoughtful and intelligent” offering expertise in Chapter 7 and Chapter 11 cases. Clients say he is “practical, articulate and direct” and add that he is “very even-keeled and efficient.” David has been practicing for more than 20 years in Wilmington, Delaware. He has represented all sides in distressed situations and, as such, understands and utilizes the leverage points in cases to achieve client objectives. David is also one of a select few Delaware panel Chapter 7 Trustees appointed by the Office of the United States Trustee and, as such, makes expeditious critical business decisions.

Selecting the Right Team

The Bankruptcy, Restructuring, and Insolvency Litigation Group has assembled attorneys with years of experience in handling restructuring and insolvency matters. This enables Group members to handle the work from start to finish. Group members have experience in all facets of the practice including out of court workouts, forbearance agreements, arrangements, assignments for creditors, receiverships, dissolutions, bankruptcy planning and preparation, pre-packs, plan formulation, pre and post-confirmation matters, bankruptcy sales, trials, appeals, mediation, arbitration, foreclosures, tax liens, cross-border issues, model law and UNCITRAL, Chapter 15, PACA claims, DIP lending, tax disputes, transfer pricing, claims trading, creditors’ rights, fiduciary claims and litigation, avoidance actions, preference claims, insiders, valuations, collections, guaranty and surety issues, insurance claims and recoveries, tort claimants, claims representatives, trustees, plan trustees, plan agents, successors and other fiduciaries. The Group often works closely with other Archer attorneys when matters arise involving specialized issues. This interdisciplinary approach ensures effective staffing of matters for clients.

Speed and efficiency are paramount in restructuring and insolvency litigation, and the Group is well-versed in all aspects of e-Discovery and fully integrated with the Archer Discovery Strategies practice. This means that document-intensive cases are handled with state of the art technology and procedures to streamline bankruptcy and plan preparation, claims resolution, bankruptcy and adversary proceeding discovery, and contested matters as well as trials. Archer has a team of e-Discovery professionals to assist as needed in the process.

A Forward Thinking Mindset for a Global Economy

Clients today want creative, cost-effective solutions to their global issues. Having the ability to understand and think strategically in both established and emerging markets translates to more innovative solutions, and overall more cost-effective representation for the client. Engagements can be structured to suit both the firm’s and client’s expectations, including in appropriate situations alternative fee arrangements.

Archer’s Bankruptcy, Restructuring, and Insolvency Litigation Group has substantial experience in handling international disputes and cross-border insolvency matters, including the European Union (EU) Regulations on Insolvency Proceedings and the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency. The Group has represented clients in proceedings in or associated with Europe, Asia, North and South America, including in bankruptcy matters pending both domestically and abroad. The Group has been credited with filing what is believed to be the first Chapter 15 bankruptcy case relating to a foreign insolvency proceeding pending by a mainland debtor in the People’s Republic of China. The Group also recently represented a foreign Chapter 15 debtor based in Hong Kong with holdings in the U.S. and represents its domestic affiliate in related Chapter 11 proceedings.

Consult with us

We welcome your inquiries and would be happy to consult with you by phone or in person at your convenience. Please contact Group Chair Stephen M. Packman at (215) 246-3147 or spackman@archerlaw.com. David Carickhoff is the managing partner of the Delaware office and can be reached at (302) 356-6621 or dcarickhoff@archerlaw.com. Gerard DiConza is the managing partner of the New York office and can be reached at (212) 682-4940 or gdiconza@archerlaw.com.

Experience

REPRESENTATIVE EXPERIENCE

 

Representative Debtor Engagements:

Voras Enterprise Inc. (Bankr. E.D.N.Y.) – counsel for not-for profit entity holding commercial building in Bedford Stuyvesant, Brooklyn, that filed Chapter 11 to avoid foreclosure; negotiations pending to achieve par-plus sale with 100% plan distribution.

Wave Systems Corp. (Bankr. D. Del.) – counsel to chapter 11 trustee of provider of data and information security that protected customers’ computer hardware through the design, development, licensing and sale of certain software solutions for the Trusted Platform Module (TPM) worldwide market. Confirmed a reorganization plan that provided for more than a 55% return to unsecured creditors.

Wind City Penna Oil & Gas, LLC (Bankr. D. Del.) – counsel to Debtor oil and gas exploration and development company in its chapter 11 case that provided more than a 40% return to unsecured creditors pursuant to a confirmed plan.

Philadelphia POPS (Bankr. E.D. Pa.) – counsel to debtor Encore Series, Inc. (t/a the Philly POPS), in chapter 11 proceedings including obtaining confirmation of reorganizing plan, negotiating settlement and separation from co-debtor, The Philadelphia Orchestra, and negotiating a settlement with the longtime former maestro, Peter Nero.

Wallace (Bankr. S.D.N.Y.) – counsel to debtors with interests in several boutique hotels and litigation claims against third parties, including former insiders. Successfully sold debtors’ interest in hotels during chapter 11 cases and litigated several claims, including claims for recharacterization and recovery of fraudulent and preferential transfers.  Confirmed plan provided full recovery for unsecured creditors.

Nova Biosource Fuels (Bankr. D. Del.)– member of the Group served as counsel to biodiesel refining company with multiple facilities in its chapter 11 case.

Representative Chapter 15 Debtor Engagements:

Zhejiang Topoint Photovoltaic Co., Ltd. (Bankr. D.N.J.) – counsel to mainland China debtors, Zhejiang Topoint Photovoltaic Company, Ltd.,et al.,in chapter 15 contested proceedings in bankruptcy, including representing the debtors in multi-million dollar litigation proceedings in the chapter 15 case.

De Coro Limited and DeCoro USA, Ltd. (Bankr. D.N.J.) – counsel to Hong Kong-based debtor, De Coro Ltd., and its U.S. subsidiary, Decoro USA, Ltd., in chapter 15 and chapter 11 proceedings in the Middle District of North Carolina.

Representative Trustee/Fiduciary Engagements:

DuraFiber Technologies (DFT) Inc. (Bankr. D. Del.) – counsel to chapter 7 trustee of manufacturers and sellers of reinforced textile products, with manufacturing facilities in North Carolina and South Carolina.

Mad Catz Inc. (Bankr. D. Del.) – counsel to chapter 7 trustee of global provider of interactive entertainment products, primarily in the video game industry. The Debtor’s products were catered to gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, computers, smart phones, tablets, and other smart devices.

New Source Energy Partners, L.P. (Bankr. D. Del.) – counsel to chapter 7 trustee of owner of oil and gas interests in wells in Oklahoma. Sold the oil and gas interests for $10 million and reached a global resolution with operator of wells and buyer resolving plugging liabilities and other issues.

Univita Holdings, LLC (Bankr. D. Del.) – counsel to chapter 7 trustee of debtors engaged in the business of providing services to the long-term care insurance industry, nursing care management services, home healthcare management services, durable medical equipment services, oxygen and respiratory therapy, drug and infusion therapy, in-home nursing, administrative services to health plans, medical claim adjudication and other medical and medical-related services.

Soundview Elite Ltd. (Bankr. S.D.N.Y.) – litigation counsel for chapter 11 trustee and foreign liquidators of Cayman and BVI funds pursuing claims against former insiders and third parties, for breach of fiduciary duty, fraud, fraudulent transfers and preferences. Counseled estate fiduciaries in resolving main litigation claims, resulting in approximately $30 million in recoveries for the estates.

Universal Marketing, Inc. (Bankr. E.D. Pa.) – counsel to elected trustee in substantively consolidated Universal Marketing, Inc., et al., chapter 7 bankruptcy proceedings involving more than 20 related debtors. Prosecuted and settled nearly 200 avoidance actions. Prosecuted and resolved litigation against former lender involving claims of breach of contract, bad faith, substantive consolidation, fraudulent conveyances, and setoff.

Shelley Food Stores, Inc., II (Bankr. S.D.N.Y.) – litigation counsel for chapter 7 trustee pursuing dozens of actions to recover preferential transfers. Successfully resolved actions, resulting in substantial recovery for estate.

James G. Kennedy & Co., Inc. (Bankr. S.D.N.Y.) – special litigation counsel for chapter 7 trustee pursuing estate claims and causes of action, including breach of fiduciary duty claims against former insiders of debtor.

NWL Holdings, Inc. (Bankr. D. Del.) – counsel to chapter 7 trustee administering estates of debtors that operated a chain of 45 general merchandise close-out stores located across 9 states in the Northeast and Mid-Atlantic regions of the United States under the name “National Wholesale Liquidators.”

Ritz Camera & Image, L.L.C. (Bankr. D. Del.) – counsel to chapter 7 trustee administering estates of debtors that operated approximately 256 photo stores in over 30 states and operated an e-commerce network of interactive websites that provided online shoppers with a wide selection of branded products.

Representative Committee Engagements:

Wellman Dynamics Corp. (Bankr. S.D. Iowa) – counsel to the creditors’ committee of an industry-leading producer of complex precision aluminum and magnesium sand castings for the aerospace and defense industries.

Mountain Crane Service, LLC (Bankr. D. Utah) – counsel to creditors’ committee of companies that lease and transport heavy industrial machinery.

Collavino Construction Company, Inc. (Bankr. S.D.N.Y.) – counsel to creditors’ committee of construction company involved in reconstruction of One World Trade Center – Freedom Tower. Involved disputes among subcontractors, Debtor as prime contractor, and Port Authority as owner.

Egenix Corporation (Bankr. D. Del.) – counsel to the creditors’ committee of a development-phase, cancer therapeutic technology company. Unsecured creditors received more than 33% under confirmed plan of liquidation.

GTA REALTY LLC, II (Bankr. S.D.N.Y.) – counsel to creditors’ committee for debtor/owner of several apartment complexes in New York City. Confirmed plan provided for payment in full of general unsecured creditor claims.

Community Environmental Center (Bankr. E.D.N.Y.) – counsel to creditors’ committee of environmental/recycling company; committee litigation achieved creditor recoveries.

FPSDA I, LLC (Bankr. E.D.N.Y.) – counsel to creditors’ committee in contested chapter 11 cases filed by franchisee of several Dunkin Donuts stores located in Northeast and Mid-Atlantic regions.

Solyndra Corporation (Bankr. D. Del.) – member of the Group served as counsel to the creditors’ committee of the highly publicized photovoltaic solar panel developer and manufacturer.

Mortgage Lenders Network (Bankr. D. Del.) – member of the Group served as counsel to creditors’ committee of subprime mortgage loan originator and loan servicer.

Representative Asset Purchaser Engagements:

LDR Industries, LLC (Bankr. N.D. Ill.) – represented acquirer in section 363 sale of substantially all assets of national plumbing supply distributor.

SAKB Realty Corporation (Bankr. S.D.N.Y.) – represented purchaser of industrial real estate pursuant to confirmed Chapter 11 plan.

Ponderosa Energy, LLC (Bankr. S.D.N.Y.) – counsel to senior secured creditor and counterparty under “VPP”-volumetric production payment transactions; achieved settlement of all litigation and purchase of substantially all assets in Chapter 11.

Citicare, Inc. (Bankr. S.D.N.Y.) – counsel to healthcare provider in acquisition through Chapter 11 plan of community health center.

 

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