Cases
Opinions, Decisions
Cases: Somerset Hills School/Residential Treatment Center (New Jersey): Representing Chapter 11 debtor that serves behaviorally classified children grades K-12 from various school districts. Successfully confirmed a Chapter 11 Plan that: (a) resolved contentious litigation, including claims of the bank
Pension Benefit Guaranty Corporation
(b) incorporated a sale to a larger school operator which effectively enabled the school to continue operating
preserve jobs for employees while also serving the school's students
the various sending districts throughout New Jersey.
C. Wonder, LLC, et. al (New Jersey): Representing unsecured creditors' committee of a specialty retailer that designs
markets women's clothing, accessories
select home goods under the C. Wonder br
(founded by billionaire J. Christopher Burch, ex-husb
of Tory Burch). Porzio has successfully negotiated
participated in the sale of the business, leases
intellectual property. Among other things, Porzio negotiated a modification of the terms of the sale agreement, whereby J. Christopher Burch agreed to subordinate approximately $42 million of outst
ing liabilities to the payment of general unsecured creditors.
Kior (Delaware): Representing l
lord of biofuel company. Successfully negotiated a lease assumption agreement which called for a significant cure payment
favorable lease modifications, including the funding of a large security deposit.
Zayat Stables, LLC (New Jersey): Represented unsecured creditors' committee in a successful reorganization of the debtor which resulted in confirmation of a Chapter 11 plan that provided for 100% recovery for general unsecured creditors. The reorganization enabled the business to continue
later own
breed the 2015 Triple Crown Winner, American Pharoah.
U.S. Eagle, et. al (New Jersey): Represented unsecured creditors' committee involving debtors with three business units: sale
rental of traffic control related equipment
design
distribution of golf course maintenance products
ownership of commercial real estate. Negotiated Chapter 11 plan that provided for a 100% recovery plus interest for general unsecured creditors
a release of avoidance actions against general unsecured creditors.
Derecktor, Inc. (New York): Represented State of Alaska in Chapter 11 proceeding of a ship builder. Successfully obtained stay relief
negotiated a settlement agreement concerning Alaska's claims relating to 2 ships built by the debtor for Alaska.
Innovation Fuels, Inc. (New Jersey): Represented a secured creditor fund in Chapter 7 proceeding of debtors who were in business of refining
selling biodiesel fuel.
Successfully pursued a setoff motion to obtain all funds held in debtors' deposit accounts. Defended secured creditor fund
certain former directors/officers in lawsuit brought by trustee asserting claims for preference, fraudulent conveyance,
breach of fiduciary duty
obtained a dismissal of the complaint upon a motion to dismiss.
H
y Hardware (Delaware): Represented substantial unsecured creditor
successfully negotiated settlement agreement providing for allowance of $2.2 million claim
dismissal of $1.1 million preference complaint.
Nader Homes, Inc./George Nader (New Jersey): Represented judgment creditors in filing an involuntary petition against the corporate entity
pursuing a nondischargeability claim against the individual owner. Defeated an attempt to have the corporate debtor's case dismissed. Successfully obtained a nondischargeability judgment for nearly a half-million dollars against the individual debtor for fraud after a two-day trial involving six witnesses. The nondischargeability judgment was appealed to the District Court for the District of New Jersey
was affirmed.
MF Global Inc. (New York): Represented commodities futures customer in filing objection to bulk transfer motion
was successful in assisting client obtain over 72% of its equity account claim within two months from the start of the liquidation proceeding.
Nebraska Meat (New Jersey): Represented lender in exercising remedies which led to liquidation of collateral
obtaining $15 million judgment against borrower
guarantors.
Peninsula Hospital Center (New York): Represented ventilator supplier to debtor hospital. Negotiated a favorable lease agreement
obtained court approval of lease agreement.
20 Bayard LLC (New York): Represented Chapter 11 debtor of a condominium building
successfully confirmed a joint Chapter 11 plan with the lender.
Jersey Window (New Jersey): Represented equipment supplier in successfully pursuing a replevin action
negotiating favorable settlement agreement.
Blockbuster (New York): Assisted l
lord in navigating through Chapter 11
having lease assumed.
Arthur Groom & Company (New Jersey): Represented equipment supplier
successfully negotiated secured claim payout under Chapter 11 plan.
Lehman Brothers Inc. (New York): Represented non-debtor counterparty to terminated swap agreement. Successfully negotiated agreement fixing claim amount against the debtors
thereafter negotiated a claim purchase agreement with a third party which provided for a significant distribution to the client in exchange for its claims.
Moulin Holdings (New Jersey): Represented foreign liquidator in New Jersey federal court litigation involving collection of a promissory note
breach of contract disputes. After extensive discovery, including depositions in Hong Kong, achieved a significant seven-figure settlement for the liquidator.
General Motors (New York): Represented foreign critical trade vendor of the debtors. Successfully negotiated a trade agreement, which provided for full payment of vendor's multi-million dollar prepetition claim, plus assumption of critical trade vendor contracts.
Finlay Fine Jewelry (New York): Represented l
lord of two stores. After filing motion to compel payment of postpetition rent, successfully negotiated immediate payment of postpetition claim
rejection of lease.
Motor Coach Industries (Delaware): Represented critical trade vendor in Chapter 11 case of major bus manufacturer. Successfully negotiated a trade agreement, which provided for full payment of vendor's multi-million dollar prepetition claim, plus assumption of critical trade vendor's contract as modified.
United Healthcare Children's Hospital (New Jersey): Represented unsecured creditors' committee
achieved a significant return from the liquidation of the hospital.
New Jersey Affordable Homes Corp. (New Jersey): Represented secured creditors whose collateral was sold through the bankruptcy proceedings for a substantial amount.
Enron Corp. Commercial Paper Litigation (New York): Represented foreign financial institution in defense of multi-million dollar preference
fraudulent conveyance litigation brought by Enron. Successfully negotiated a settlement which released client in exchange for a payment that was significantly less than the settlement payments made by other similarly situated defendants.
MIIX Group (Delaware): Represented l
lord
successfully negotiated modification of lease
payment of cure amount, which included attorney fees.
Globalnet International (New York): Represented equipment supplier
successfully negotiated a consent order which provided for substantial payments to the client.
Hayes Lemmerz (Delaware): Represented administrative agent for a syndicate of lenders. Negotiated a reorganization plan which provided for a substantial dividend to the lenders, as well as third party releases in favor of the lenders.
