Corporate Reorganization and Workouts

Ice Miller’s attorneys regularly represent both debtors and creditors to restructure lending and other debit/credit relationships and, where needed, in complete business reorganizations, both in and out of bankruptcy court.

Representative Experience

  • Represented White Energy, Inc., a $400 million multi-state ethanol producer, in its chapter 11 bankruptcy proceeding in the District of Delaware, successfully resulting in a confirmed plan and restructuring.
  • Restructured over $25 million in secured debt for a national retail service provider, and avoided a chapter 11 bankruptcy proceeding through a new capital contribution.
  • Represented the Debtor and Plan Agent in the successful chapter 11 bankruptcy of Frankfort Tower Industries, a $250 million national tower construction company, resulting in full payment of creditor claims and a distribution to shareholders.
  • Represented a district energy system in its chapter 11 bankruptcy case, which involved significant environmental claims. The Debtor’s efforts were opposed at every turn by the City of Akron. Ultimately were successful in confirming a plan of reorganization despite these hurdles.
  • Represented a manufacturing facility in northern Indiana in its chapter 11 bankruptcy, working with stakeholders to stabilize operations, ensure positive cash flow, and ultimately sell the primary operating assets.
  • Represented a supplier to the debtor and successfully pursued a Section 503(b)(9) claim resulting in one of the first rulings on what constitutes "goods" for purposes of Section 503(b)(9). In re Plastech Engineered Products, Inc. (Bankr. E.D. Mich., 2008-2009).
  • Lead counsel to district energy system, Akron Thermal, Limited Partnership. Successfully represented Debtor in motion to assume lease and plan of reorganization. Both matters were vigorously contested, with lengthy hearings including multiple experts. Following substantial consummation of plan, filed a second Chapter 11 proceeding and have addressed many issues in connection with the interplay between the two cases. Reported decisions in the case are at: In re Akron Thermal, Limited Partnership, 2009 WL 1707907 (N.D. Ohio, June 17, 2009); In re Akron Thermal, Limited Partnership, 414 B.R. 193 (N.D. Ohio, February 19, 2009); In re Akron Thermal, Limited Partnership, 2008 WL 1886171, 2008 Bankr. LEXIS 1358 (Bankr. N.D. Ohio, April 25, 2008).
  • Successfully represented lender in single asset limited partnership bankruptcy proceeding. Representation included successful challenge to confirmation in a three day confirmation hearing focusing upon feasibility of the debtor’s proposed plan of reorganization. Confirmation was denied, relief from stay was granted and the lender was able to proceed with its state court foreclosure proceedings. 
  • Lead counsel in successful Chapter 11 reorganization of retail store chain with aggregate annual sales in excess of $10,000,000. Issues in the case included analysis of business operations, treatment of leases and executory contracts, and presentation and confirmation of a plan of reorganization. 
  • Lead counsel in successful out of court workout of agricultural business with secured debt in excess of $50,000,000. Project included negotiation and sale of business; negotiation of agreement with United States Environmental Protection Agency, Department of Justice and other government agencies; and negotiation and resolution with other creditor constituencies. 
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