Small And Medium-Size Company Chapter 11 Restructurings

We have represented all sizes of companies, large and small, as main counsel for the debtor. Indeed, to be effective as conflicts counsel in a “mega” case, it is necessary to be able to represent a company in each and every aspect of a Chapter 11 restructuring, and we can. We have done every type of case imaginable, from soup to nuts.

A Focus On Client Services And Cost-Effective Results

The team at the Togut Firm knows how to provide the highest quality service to smaller companies and to bring to bear the same skill set we use in the most complex cases, but at the lower cost that only a smaller firm can offer. Our professionals are highly motivated to serve smaller companies.

We pay close attention to costs and strive to deliver superior services at an affordable price. Our goal is to be part of the solution rather than add to the problem of the debtor’s inability to pay too many debts.

We respond promptly to our clients and get things done quickly and efficiently. You get attention from us that you cannot get anywhere else. Our most sophisticated and senior people stay involved in the case. A smaller company that hires a large law firm often ends up with a senior associate who does not have enough experience to know how to properly guide the case to a successful conclusion. That does not happen with us.

Who Have We Served In The Past?

Representative cases where we were sole bankruptcy counsel for the small or medium-size debtor are:

Benitago Inc.

Lead counsel to Benitago, a U.S.-based start-up Amazon brand incubator and aggregator in connection with its successful restructuring pursuant to a chapter 11 plan of reorganization. The Togut Firm assisted the debtors in negotiating a fully consensual chapter 11 plan that was supported by two separate senior secured lenders and the official committee of unsecured creditors following months of pre-bankruptcy negotiations.

Confidential Paper Company

In 2022, the Togut Firm assisted a paper company with about 500 employees in preparing for a contested Chapter 11 filing while it negotiated an out-of-court restructuring with its lenders. The company was able to consummate a refinancing transaction that provided new debt and equity capital and refinanced more than approximately $75 million in outstanding secured and unsecured obligations.

Greensill Capital

Main counsel to Greensill Capital, Inc., the U.S.- based subsidiary of the international Greensill supply chain finance business, in connection with its chapter 11 case. Following an extensive marketing and auction process, the debtor closed a section 363 sale of its 100% ownership interests in Finacity Corporation, a leader in the structuring and provision of asset-backed working capital funding solutions, consumer receivables financing, supplier and payables finance, back-up servicing, and transaction reporting around the world. The Togut Firm obtained confirmation of a chapter 11 plan of liquidation that created a litigation trust to pursue claims and causes of action to provide additional recoveries to creditors.

Confidential Real Estate Development

In early 2021, the Togut Firm assisted a Seattle-based real estate developer with evaluating potential bankruptcy options in connection with its refinancing of more than $175 million in mezzanine and mortgage debt through an out-of-court transaction.

Confidential Cruise Ship Company

In late 2020, the Togut Firm served as counsel to the owner of a small cruise vessel in connection with an out-of-court restructuring that enabled the company to obtain sufficient liquidity and restructure its balance sheet during the early stages of the pandemic and avoid a bankruptcy filing. The transaction also resolved outstanding litigation involving certain of the company’s preferred shareholders and one of its key charter counterparties.

Loehmann’s Holdings Inc.

Sole counsel to the debtor women’s fashion apparel chain that operated 48 retail stores in major metropolitan areas.

Our Lady Of Mercy Medical Center

A Bronx hospital was successfully sold as a going concern in Chapter 11 despite having over $100 million in liabilities.

Cabrini Medical Center

Lead counsel to the debtor, a hospital in Gramercy Park, Manhattan, with over $100 million in liabilities.

Fortunoff Fine Jewelry & Silverware, LLC

Lead counsel to the debtor in the successful sale as a going concern of Fortunoff, a nationally known retailer.

Clift Holdings LLC

Lead counsel to the debtor in the successful restructuring of $75 million in debt for Ian Schrager’s premier San Francisco hotel.

Guilford Mills, Inc.

Sole counsel to the debtor, a leading worldwide producer and seller of textiles that successfully restructured over $300 million in secured debt and paid all its unsecured creditors in full under its confirmed Chapter 11 plan.

Dewey & LeBoeuf LLP

Lead counsel in Chapter 11 wind-down and liquidation of the largest U.S. law firm to ever file for bankruptcy.