Cooley's Bankruptcy & Restructuring practice group is an experienced, results-oriented team that possesses a deep understanding of bankruptcy principles and law, outstanding litigation and corporate drafting ability and solid business sense.
We have extensive experience representing creditors and debtors in all aspects of bankruptcy and out-of-court restructurings. We have handled matters throughout the U.S. and abroad for the full-spectrum of participants in bankruptcy and restructuring cases and across a wide array of industries—including retail, electronics, food and beverage, cleantech, technology, multimedia, apparel, energy, sporting goods, real estate, telecommunications, airlines, home furnishings, biotechnology, health care, and multi-national financial conglomerates.
Cooley has played a significant role in some of the largest bankruptcy and out-of-court restructuring cases, including Metromedia Fiber Network, Enron, Adelphia, Montgomery Ward, Federated Department Stores, Athlete's Foot, Pacific Gas & Electric Company, United Airlines, Blockbuster, CompUSA, Pizzeria Uno, Johns-Manville and Thrifty Drugs.
We are actively involved in issues relating to the bankruptcy field. Our attorneys are frequently quoted in news articles covering bankruptcy proceedings. Partner Larry Gottlieb appeared before the U.S. House Judiciary Subcommittee on Commercial and Administrative Law to inform key members of Congress about the impact of 2005 bankruptcy code changes on retailers filing for Chapter 11 bankruptcy.
Case in Point
Mervyn's LLC, et al. v. Lubert-Adler Group, IV, LLC, et al.
Cooley represented the official committee of unsecured creditors for Mervyn's and its estate in a highly contentious bankruptcy litigation the committee brought against various private equity firms, financial institutions and others that acquired Mervyn's from Target Corp. in a September 2004 LBO transaction. The acquirers were accused of transferring Mervyn's real estate to entities they controlled which were beyond the reach of creditors. The funds were also accused of raising Mervyn's rent, as well as extracting hundreds of millions of dollars in management fees and dividends. Read more
- Cooley was ranked in Tier 1 nationally for "Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law" in the 2013 U.S. News - Best Lawyers® "Best Law Firms" list.
- In 2013, Cooley received an award for the "Distressed M&A Deal of the Year" (deals over $25 million to $100 million) at the 7th Annual M&A Advisor Turnaround Awards for its representation of Entropic Communications, the buyer of a set top box business and diverse, international patent portfolio from Trident Microsystems.
- Cooley received an award for "Special Situation M&A Deal of the Year" (Middle Markets) at the 2012 Atlas Turnaround Awards for the work representing the Creditors committee in the reorganization and sale of Blockbuster. In April 2011, the Court approved the $320 million sale of Blockbuster to the Dish Network.
- Cooley received an award for "Consumer Goods & Services Turnaround of the Year" at the 2011 Atlas Turnaround Awards for its representation of the official committee of unsecured creditors of Uno Restaurant Holdings Corporation (d/b/a Pizzeria Uno). Cooley engineered a global settlement with the debtors and a majority of their note holders, providing for the reorganization of Uno's, the purchase of a percentage of each unsecured claim and an agreement amongst the parties that preference actions will not be pursued.
- Cooley received an award for the "Chapter 11 Reorganization of the Year" at the 2010 Atlas Turnaround Awards for its representation of Crabtree & Evelyn in the retailer's successful emergence from bankruptcy.
- Cooley was also recognized as the "Restructuring Law Firm of the Year" at the 2010 Turnaround Atlas Awards.
- Partner Larry Gottlieb was named as one of Law360's 10 Most Admired Bankruptcy attorneys.
- Cooley's Bankruptcy & Restructuring attorneys are consistently ranked as The Best Lawyers of America, as well as Super Lawyers.
For our latest insights, visit our blog at www.businessbankruptcyblog.com.