Representation of Creditors

Orrick lawyers have extensive experience representing financial institutions, individual creditors and groups of creditors on a variety of insolvency-related  matters.  We work with our clients' strategies for minimizing the credit risks inherent in doing business with and lending to troubled companies.  Our attorneys advise on out-of-court workouts and enforce and protect the rights of creditors in bankruptcy and other courts.  We also represent clients in debtor-in-possession (DIP) financing and cash collateral matters.  We represent commercial and investment banks and secured and unsecured creditors with their holdings of public securities and loans in companies operating under Chapter 11.

Our significant current and recent matters include the representation of:

• Vivendi, the international media and telecommunications company in a variety of matters, including the recent  €2.5 billion syndicated credit facility to refinance debt, which involved many major money center banks and the €1.3 billion syndicated facility for the acquisition of Cegetel.
• The holder of 85 percent of Millenium Seacarriers, Inc.'s $100 million of secured bonds in the Chapter 11 case of this international shipping company.  The bondholder acquired substantially all of the assets of this shipping company by “bidding in” its claims in the bankruptcy sale of the company’s assets.
• The John Hancock Life Insurance Company as a secured term lender holding over $120 million of debt in a Chapter 11 case.  This matter involved the sale to an affiliate of Tri-Valley Growers, one of the world’s largest fruit processing companies.
• The indenture trustee and sole representative of bond debt on the creditors committee in Comdisco's Chapter 11 case which was very successful for the creditors.
• The owner of the Great Western Forum arena in the workouts and Chapter 11 cases of the Los Angeles Kings/NHL Franchise, et al and its former owner, Bruce McNall.
• Major money center banks and other institutional lenders in numerous workouts and bankruptcy cases involving companies such as GST Telecom, Inc. and U.S. Wood Products, Inc.
• A vehicle fleet lessor in the Chapter 11 case of Country Home Bakers, Inc., a producer and distributor of baked goods.
• Two large unsecured creditors involving Direct TV (Latin America), a satellite television provider.
• Cooper Industries, Ltd., a principal creditor and holder of a substantial indemnity claim against Federal-Mogul Global, in an innovative arrangement to resolve the company's liability for present and future mass torts claims against its former Abex Friction Products business. 
• The lessor of 26 retail locations in connection with the bankruptcy proceedings of Heilig-Meyers Co., Heilig and its affiliates, a nationwide furniture retailer.
• Lombard Acquisitions, LLC et al., the lead pre-petition and DIP lender and agent of a multi-million dollar, syndicated credit facility to a group of debtors that provide metal processing services.
• A REMIC as the secured lender in the bankruptcy cases of Pinehurst Hospitality LLC, a hotel owner.
• The lead pre-petition and DIP lender and agent of a several hundred million dollar syndicated credit facility to a group of debtors from Railworks Corporation, et al, that provide national rail system services.
• TongaSat, the principal creditor of this debtor and Rimsat, Ltd., the lessor of geosynchronos orbital satellite positions which the debtor utilized for its communications satellites.
• Affiliates of Koch Industries, Inc. as a fuel supplier and trader.