NEWS & EVENTS
Financial Services Team Retained in 12 Million Dollar Case
The financial services team was retained to represent the interest of a secured lender holding a $12,218,000 loan secured by a series of cranes and crane parts. The debtor filed for bankruptcy protection in a Chapter 11 reorganization. The lender objected to the plan of reorganization and a liquidation sale of the identified collateral was conducted, playing down a portion of the loan obligation. State court collection actions were filed against the guarantors and over opposition, judgments were entered on the deficiency balance due. The defendant appealed and the award below was upheld. Collection efforts continued on the obligation and additional funds have been recovered after obtaining charging orders from the court upon a series of limited liability companies.