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Reorganization / Work-outs

Boies, Schiller & Flexner has developed a significant practice in the area of insolvency and insolvency-related proceedings. The firm has been retained as special US litigation counsel to the court-appointed Liquidators of the High Risk Opportunities (HUB) fund and in that capacity is currently prosecuting claims against two broker-dealer counterparties to the Fund. This engagement has involved substantial analysis of the ISDA Master Agreement and related documents, with respect to which the firm has developed a particular expertise. The firm is also currently counsel to an investment fund seeking to recover on defaulted public debt issued to the Republic of Nicaragua and represents the Steering Committee of the senior creditors of the Barings estate in which capacity the firm sits on the Liquidator's Litigation committee on behalf of the creditors. The firm is also United States litigation counsel to a Creditors' Trust formed in connection with the restructuring of approximately $2 billion of private Mexican debt. The firm represents the Trust with respect to a number of actions commenced by the Indenture Trustee under four separate Indentures governing this private debt in which issues regarding the subordination provisions of the Indentures, priority rights and related doctrines are directly at issue.

In addition, Boies, Schiller & Flexner represented the court-appointed Examiner in the Chapter 11 proceedings of Handy & Harman Refining Group and currently serves as special counsel to Bridge Information Systems, Inc. in connection with its potential disputes in bankruptcy with Cantor Fitzgerald Securities Corporation and Market Data Corporation. The firm also represents the Trustee of the Air Transport International, LLC Creditor Trust in an adversary proceeding arising out of the debtor's failed leveraged buyout. Boies, Schiller & Flexner has also recently concluded its representation of Ventas in connection with certain potential disputes arising from the bankruptcy filing of Vencor, Inc. whose plan of reorganization has now been confirmed.