Mergers And Acquisitions

In many of its bankruptcy cases, the Togut Firm has represented Chapter 11 companies that have been purchased or merged into stronger entities through the use of sales pursuant to Section 363 of the Bankruptcy Code or under Chapter 11 plans. The Togut Firm has extensive experience in such transactions and in the sale and acquisition of assets in bankruptcy cases.

Canyon Ranch Hotel

As lead counsel for the debtor, a subsidiary of Lehman Brothers, in connection with the competitive auction and a $21.6 million “overbid” sale of the Canyon Ranch “condo-hotel” in Florida. The Togut Firm implemented a successful sale strategy that resulted in creditors being paid in full as well as a $5 million return to the Lehman Brothers entity equity sponsor.

In re Grubb and Ellis Company

As lead counsel for the debtors – with an enterprise spanning three business lines: management services, transaction services, and appraisal services – the Togut Firm negotiated a sale transaction for the sale of substantially all the debtors’ assets to BGC Partners, Inc., an affiliate of Cantor Fitzgerald. The sale closed less than three months after the commencement of the Chapter 11 cases.

In re Synergy Pharmaceuticals Inc.

As co-counsel, we assisted the debtors with selling substantially all their assets, including their flagship product, Trulance, and related intellectual property to the Bausch Health Companies pursuant to Section 363 of the Bankruptcy Code.