Cathy Hershcopf

Cooley has been representing the Official Committee of Unsecured Creditors of Mallinckrodt during Mallinckrodt’s ongoing bankruptcy proceedings, in which the pharmaceutical company’s Chapter 11 plan of reorganization was recently confirmed after a contentious multiweek trial, marking a defining moment in the case. Cooley partners Cullen Speckhart, Ian Shapiro, Philip Bowman, Michael Klein, Cathy Hershcopf and Jonathan Kim led the team advising the Official Committee of Unsecured Creditors.

Cooley advised Money Chest in its agreement to acquire substantially all of the assets of Loot Crate, the bankrupt “geek and gamer” subscription business backed by actor Robert Downey Jr.’s venture-capital firm, for approximately $30 million. Cathy Hershcopf led the team advising Money Chest.

Cooley advised the unsecured creditors' committee in the bankruptcy proceedings of RadioShack, a 90-year-old chain of wireless and electronics stores. On September 30, 2015, the Bankruptcy Court for the District of Delaware approved the company's Chapter 11 plan. According to the Wall Street Journal, under the Chapter 11 plan, the corporate remains of what was once RadioShack will pay most secured lenders in full. Approximately 1,700 of RadioShack's 4,400 retail locations were sold to a company that continues to operate those stores, some in conjunction with Sprint. The plan became effective on October 8, 2015, and the Cooley team continues as counsel to the post-bankruptcy liquidating trust.

Cooley's corporate restructuring and bankruptcy practice group has been selected as co-counsel to the creditors' committee in the bankruptcy proceedings of electronic retail chain RadioShack.

Cooley is well known for its extensive experience representing creditors' committees, debtors, equity committees, mechanics lienholder committees, shareholder committees, and employee and retiree committees in Chapter 11 proceedings, out-of-court restructurings, restructuring and company dissolution, credit finance and distressed M&A.

Cooley represents a range of clients across a wide array of industries and has played a significant role in some of the largest bankruptcy and out-of-court restructuring cases, including Metromedia Fiber Network, Enron, Lehman Brothers, Adelphia, Montgomery Ward, Federated Department Stores, Athlete's Foot, Pacific Gas & Electric, United Airlines, Blockbuster, CompUSA, Pizzeria Uno, Johns-Manville and Thrifty Drugs.

Restructured $5 billion in debt created by Metromedia Fiber Network, a national telecommunications fiber and network company. Metromedia Fiber Network was successfully reorganized under a Chapter 11 plan, which featured a rights offering of its stock to unsecured creditors. As a result, the company was revitalized and operated under the name AboveNet as a publicly traded company with substantial market value until it was acquired by Zayo Group.