Industry/business:

Manufacturer and marketer of plastic products

Representation/date:

Debtor / 2012

Transaction size:

Revenues of approximately $50M

Key outcome:

Successful out of court sales of manufacturing facilities with approval of constituents through assignment for the benefit of creditors.

Industry/business:

One of world’s largest boat manufacturers

Representation/date:

Debtor / 2009-2010

Transaction size:

Prior company revenues of over $1B

Key outcome:

Sale of business assets as going concern to several buyers.  Turnaround Management Association Upper Midwest Chapter Transaction of the Year 2010.

Industry/business:

Manufacturer of flexible and rigid polyvinyl chloride components

Representation/date:

Debtor / 2009

Transaction size:

Revenues of approximately $50M

Key outcome:

Successful out of court sales of manufacturing facilities with approval of constituents

Industry/business:

Manufacturer of precision components and assemblies of metal products

Representation/date:

Debtor / 2009

Transaction size:

Revenues of approximately $15M

Key outcome:

Successful out of court sale of assets with approval of constituents

Industry/business:

Installer and distributor of fire proofing material/asbestos case

Representation/date:

Debtor / 2008 completion

Transaction size:

Revenues of approximately $62M / $250M plus in liabilities

Key outcome:

API is the only confirmed asbestos Chapter 11 case in the Eighth Circuit (and among a small number of such cases nationally). The case involved a company which sold and installed asbestos insulation products and faced massive liability from product liability claims. The company was able to confirm a Chapter 11 plan involving a contribution to a trust and assignment of its remaining insurance and go forward as a successful business after reorganization.

Industry/business:

Custom plastic molding for household appliance, automotive and other industries

Representation/date:

Represented equity/creditor interests in sale of business assets in bankruptcy / 2008

Transaction size:

Revenues of approximately $81M / $15M in assets

Key outcome:

Assisted investors in recovery of guaranty obligations in Chapter 11 asset sale.

Industry/business:

Aluminum foundry defense contractor

Representation/date:

Debtor / 2006

Transaction size:

Revenues of approximately $42M / $45M in asset sale

Key outcome:

Case recognized as “Transaction of the Year” in 2006 by the Upper Midwest Chapter of the Turnaround Management Association because the successful sale paid all creditors in full and paid amounts to the equity holders far in excess of what was expected. 

Industry/business:

High end specialty firearms manufacturer

Representation/date:

Debtor / 2006

Transaction size:

Revenues of approximately $4M / $4-5M in assets, with additional assumption of debt

Key outcome:

Represented Chapter 11 debtor in extensive negotiations with creditors and litigation leading up to successful sale of assets of specialty gun manufacturer.

Industry/business:

Manufacturer of high tech components to the automotive and aircraft industries

Representation/date:

Debtor / 2004

Transaction size:

Revenues of $100M+ / $35M in assets

Key outcome:

Chapter 11 plan confirmed with sale to existing equity to clean-up balance sheet and allow additional investment.

Industry/business:

Manufacturer of aperture masks and lenses used in eyeglasses/Vision-Ease

Representation/date:

Debtor / 2004

Transaction size:

Revenues of approximately $62M / $155M in assets

Key outcome:

Represented debtor in obtaining bankruptcy court approval of $50M sale of Vision-Ease.  Assisted in confirmation of a plan of liquidation resulting in payoff owed to service lenders.

Industry/business:

Distribution of agricultural chemicals

Representation/date:

Debtor / 2003

Transaction size:

$5M

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Manufacture and sale of bingo products

Representation/date:

Debtor / 2001-2006

Transaction size:

$100M plus

Key outcome:

Chapter 11 plan confirmed.

Other notable cases:

Munsingwear, Inc. (chapter 11 plan confirmed), Endotronics (chapter 11 plan confirmed).

Industry/business:

National home health care business with 200 locations in 38 states

Representation/date:

Debtor / 2004

Transaction size:

Revenues of $200M+

Key outcome:

Successful restructuring of business preserving 500 jobs; negotiated and led confirmation of Chapter 11 plan that resolved numerous stakeholder issues.

Industry/business:

Healthcare

Representation/date:

Debtor / 2001

Transaction size:

Revenues of approximately $39M

Key outcome:

Successful sale in bankruptcy of two separate businesses related to third-party payor services in health care industry.

Industry/business:

Chain of nursing homes in Wisconsin

Representation/date:

Debtor / 2000

Transaction size:

Revenues of approximately $11M

Key outcome:

Chapter 11 plans confirmed.

Industry/business:

Non-regulated electric power producer

Representation/date:

Local counsel for debtor / 2002

Transaction size:

Approximately $9B

Key outcome:

Successfully obtained dismissal of involuntary bankruptcy petition filed by former officers; Company subsequently re-filed in New York and successfully reorganized approximately $9B in debt.

Industry/business:

Ethanol cooperative plant

Representation/date:

Debtor / 2001

Transaction size:

$25M

Key outcome:

Led team in renegotiating terms of construction and permanent financing of about $25M.

Industry/business:

Taconite mine

Representation/date:

Committee (local) / 2003

Key outcome:

Negotiated treatment of unsecured claims in sale of assets of large taconite mining operation.

Industry/business:

Land developers, builders and lenders. We currently represent multiple distressed real estate industry clients in cases, including: developers, integrated builders, lumber yards/mill works, bank lenders and specialty construction lenders in workouts, foreclosures and bankruptcies related to the severe slump in residential real estate

Representation/date:

Workouts, foreclosures and bankruptcies / Ongoing

Transaction size:

Total of debt transactions exceeding $1B to date.

Industry/business:

Supplier of building materials and services, lender to builders and developer

Representation/date:

Sale of assets in bankruptcy 363 sale/ 2011

Transaction size:

Revenue in excess of $400M in prior years; Total debt of more than $100M

Key outcome:

Business sold as going concern with jobs saved and maximum value obtained for creditors.

Industry/business:

Commercial Real Estate Developer

Representation/date:

Debtor / 2010-2011

Transaction size:

Over 100 separate entities; $200M in debt

Key outcome:

Confirmed Chapter 11 plan that permitted debtor to retain remaining assets and to share proceeds with creditors.  One of Twin Cities Business Magazine’s Top Ten Business Litigation Cases of the Year (#3) 2011.

Industry/business:

Owners of commercial real estate

Representation/date:

Chapter 11/ 2011

Transaction size:

Approximately $13M in debt

Key outcome:

Plan confirmed over objection of secured creditors (7/17/12).

Industry/business:

Lumber yard and truss construction

Representation/date:

Debtor / 2009

Transaction size:

Revenues of approximately $25M

Key outcome:

Successful out of court sale of assets with over 25% distribution to unsecured creditors.

Industry/business:

Largest supplier of building materials in Upper-Midwest, also in Pacific Northwest; finance to real estate industry and real estate development

Representation/date:

Complex out of court workout/ 2007-2008

Transaction size:

Revenues of approximately $400M

Key outcome:

2008 TMA (National) Transaction of the Year (mid-size).  2008 TMA Upper-Midwest Transaction of the Year.

Industry/business:

Real estate developer

Representation/date:

Individual Chapter 11 case/ 2000-2003

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Burger King Franchisee with 92 restaurant locations

Representation/date:

Minnesota counsel / 2010-2011

Transaction size:

Revenues of approximately $89M

Key outcome:

Majority of restaurants sold as going concern in three regions to three buyers, confirmed Chapter 11 liquidating plan with anticipated 18-36% distributions.

Industry/business:

Owner/operator of 77 KFC franchises

Representation/date:

Minnesota counsel / 2011-2012

Transaction size:

Revenues of approximately $75M / Total debt of more than $60M

Key outcome:

Pending Chapter 11 cases.

Industry/business:

Retailer of new and used golf equipment

Representation/date:

Debtor / 2007

Transaction size:

Revenues of approximately $63M / $9M in assets

Key outcome:

Liquidation of national retail company in Chapter 11 case.

Industry/business:

Retailer of patio/garden furnishings and décor

Representation/date:

Debtor / 2007

Transaction size:

Revenues of approximately $25M

Key outcome:

Sale of assets in Chapter 11 case.

Representation/date:

Debtor, Chapter 11 / 1997

Transaction size:

$20M

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Family center providing dining, event, bowling and other entertainment services

Representation/date:

Debtor / 2012

Transaction size:

Revenues of approximately $10M

Key outcome:

Successful restructuring of secured debts.

Industry/business:

Hotel and indoor water park

Representation/date:

Debtor / 2011

Transaction size:

Revenues of approximately $15M

Key outcome:

Successful restructuring of secured debts, including reduction in principal.

Industry/business:

Internet sale of consumer product

Representation/date:

Represented purchaser of business engaged in internet sales of snowboards / 2010

Transaction size:

Approximately $7M

Key outcome:

Client acquired valuable internet business in 363 sale conducted in bankruptcy court in California.

Industry/business:

Hotel and casino

Representation/date:

Debtor / 2001-2002

Transaction size:

Revenues of approximately $7M

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Aquarium in Mall of America

Representation/date:

Debtor / 1998

Transaction size:

Revenues of $10-15M

Key outcome:

Confirmed sale in Chapter 11 plan.

Industry/business:

Farming operations on over 3,000 acres of land

Representation/date:

Debtors / 2011

Transaction size:

Creditors with claims of approximately $15M

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Food manufacturer

Representation/date:

Creditor / Reclamation, preference defense, setoff, and other claims in large Chapter 11 cases  (Fleming Foods and others)

Key outcome:

Work with food manufacturer, often in conjunction with other large trade vendors, to protect and realize on multimillion dollar reclamation claims, setoffs, and unsecured claims, and to defend against preference actions by debtor or trustee.

Industry/business:

Dairy food manufacturer

Representation/date:

Creditor / Reclamation, preference defense, setoff, and other claims in large Chapter 11 cases (Fleming Foods and others)

Key outcome:

Work with food manufacturer, often in conjunction with other large trade vendors, to protect and realize on significant reclamation claims, setoffs, and unsecured claims, and to defend against preference actions by debtor or trustee.

Industry/business:

Food manufacturer

Representation/date:

Committee / 2002-2004

Transaction size:

Revenues of approximately $24M

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Large California cooperative grower of tomatoes

Representation/date:

Represented investment banker in employment and fee payment issues/ 2004

Key outcome:

Obtained approval of client employment and payment of success fee upon multimillion dollar sale of grower assets.

Industry/business:

Auto service/ franchisee/operator of 100+ rapid oil change facilities throughout the Midwest.

Representation/date:

Debtors / 2012

Transaction size:

Revenues of approximately $30M

Key outcome:

Pending Chapter 11 cases in Milwaukee.

Industry/business:

Designer and installer of fire suppression services, focusing on large new-construction commercial projects

Representation/date:

Debtor / 2010

Transaction size:

Revenues of approximately $25M

Key outcome:

Successful out of court restructuring of secured debt.

Industry/business:

Printing, personalization, and distribution of direct mail

Representation/date:

Debtor / 2009-2010

Transaction size:

Revenues of approximately $15M

Key outcome:

Chapter 11 plan confirmed.

Industry/business:

Software and hardware computer storage business

Representation/date:

Debtor / 2008-2009

Transaction size:

Revenues of approximately $9M / $5-10M

Key outcome:

Sales in Chapter 11 case.

Industry/business:

Leading Minnesota law firm

Representation/date:

Chapter 11 case/ 2007-2008

Key outcome:

Chapter 11 liquidating plan confirmed.

Industry/business:

Asset based lender

Representation/date:

Chapter 11 case/ 2006-2007

Transaction size:

$22M loan portfolios

Key outcome:

Chapter 11 liquidating plan confirmed.

Industry/business:

Minnesota airline, affiliated with Northwest Airlines

Representation/date:

Represented airline industry specialist consultants in employment and fee payment issues/ 2005-2008

Key outcome:

Obtained approval of client employment terms and payment of consulting fee upon debtor’s reorganization.

Industry/business:

Frequently represent receivers, assignees for benefit of creditors, investment bankers, and turnaround professionals

Transaction size:

Ranging from $1M in assets to $100M in assets

Industry/business:

Completion of liquidation of boat manufacturer

Representation/date:

Represent Chapter 7 trustee in more than 400 preference cases/ 2011-2012

Key outcome:

Collection of funds for estate (amount not yet determined).

Industry/business:

(Fictitious) print broker business

Representation/date:

Receiver / 2009 - 2011

Transaction size:

Creditors with outstanding claims of $50M

Key outcome:

Recovered assets, instituted distribution plan, and made distributions to unsecured creditors of over 25%.

Awarded Transaction of Year by Turnaround Management Association Upper Midwest Chapter in 2011.

Industry/business:

Financial institution that provided wholesale credit facility to retail lender in construction industry

Representation/date:

Secured creditor / 2009-2012

Transaction size:

$400M+ credit facility

Key outcome:

Had receiver appointed to liquidate collateral and recover fraudulent transfers.