Experience

• Select Debtor and Company Representations

  • Clearside Biomedical in its chapter 11 case.
  • Numerous public and private companies in considering strategic alternatives and potential chapter 11 implications.
  • Isagenix Worldwide in its out-of-court restructuring.
  • Puerto Rico Electric Power Authority in its historic restructuring of more than $9 billion in debt.
  • Standard Amusements in a contested chapter 11 case to take over operations of Rye Playland, defeating a motion by Westchester County (New York) to dismiss the chapter 11 case and leading the contested confirmation process, ultimately leading to a consensual settlement.
  • Verso Corporation in its chapter 11 cases, successfully leading negotiations over a litigation protocol to avoid protracted and complex litigation at the outset of the bankruptcy cases over intercompany agreement, along with successfully rejecting and renegotiating numerous supply contracts, saving Verso millions of dollars.
  • Cal Dive in its chapter 11 cases, successfully litigating several disputes – including overcoming an objection to DIP financing and defeating a motion to appoint an official committee of maritime class lienholders.
  • Joint provisional liquidators in obtaining recognition under chapter 15 for a Cayman provisional liquidation proceeding.

• Select Board and Sponsor Representations

  • A private equity fund and individual former directors in fraudulent transfer and breach of fiduciary duty claims brought by the litigation trustee for Tops Friendly Markets.
  • Former directors and officers to Fusion Telecommunications in settling post-confirmation claims alleged by the litigation trustee, including successfully negotiating the mediated settlement before a lawsuit was publicly filed.
  • An outside director in fraudulent transfer and fiduciary duty claims brought by the Sears estate.
  • A large private equity firm defending a series of lawsuits brought by the litigation trustee for Core Media, former owner of “American Idol” and other television assets.

• Other Creditor and Bankruptcy Litigation Representations

  • Symbolic Capital Partners as the secured lender in numerous litigations with the litigation administrator for Celsius Network, one of the largest crypto exchanges to file chapter 11.
  • Vine Alternative Investments as the largest secured lender in the chapter 11 bankruptcy case for Village Roadshow Entertainment Group.
  • A crossover ad hoc group of shareholders and lenders in the out-of-court restructuring of national fitness chain 24 Hour Fitness, through which 24 Hour Fitness substantially deleveraged more than $1 billion of secured debt in an uptier liability management exercise that garnered 99+% consent. Before that transaction, Mr. Shamah represented many of those same holders in the chapter 11 restructuring of 24 Hour Fitness.
  • The Fisker Owners Association, a nonprofit formed by more than 3,500 Fisker vehicle owners, in the chapter 11 case of Fisker Automotive, including the successful negotiation of a plan of liquidation that ensured ongoing access to critical replacement parts and adequate funding for federally mandated recall service for all Fisker vehicle owners.
  • An ad hoc group of second lien lenders to K&N Engineering in its out-of-court restructuring.
  • An ad hoc group of Robertshaw term lenders in chapter 11 cases and defending certain liability management transactions.
  • Wilmington Trust in defending breach of fiduciary duty claims arising out of foreclosure sales following the bankruptcy filings of LATAM Airlines and Norwegian Airlines.
  • Malibu Boats, recreational boat manufacturer, in a range of litigation matters arising out of the bankruptcy of Tommy’s Boats, Malibu’s largest dealer.
  • Reorganized Remington entities in post-confirmation litigation trust matters following Remington’s 2018 prepackaged bankruptcy cases.
  • Funds affiliated with Franklin Advisers as majority debtor-in-possession (DIP) lender and stalking-horse buyer in a chapter 11 case for Appvion, successfully achieving roll-up of $240 million of first lien debt at the outset of the case and acquiring substantially all of Appvion’s assets in a credit bid as part of a contested section 363 sale.
  • A large secured creditor in the Energy Future Holdings chapter 11 case, including taking the lead role in formulating a bankruptcy strategy to maximize the client’s recoveries and a litigation strategy to address numerous contested matters.
  • An ad hoc group of first lien lenders in Fieldwood’s prepackaged bankruptcy cases.
  • Capital One as reserved-base lending (RBL) agent in Castex’s chapter 11 case, successfully leading efforts to negotiate a consensual resolution of numerous open issues with the creditors’ committee and to obtain confirmation of a plan over the objection of the former preferred shareholder.
  • Bank of America as RBL agent in Stone Energy’s chapter 11 case, leading restructuring support agreement (RSA) negotiations and defeating a motion to appoint an official equity committee.