Official Committees

Official Committees

The firm has represented multiple official committees of unsecured creditors in some of the busiest jurisdictions in the United States, including Delaware and the Southern District of New York.  Elliott Greenleaf also frequently represents clients in their capacity as members of official committees, including those serving as chairs of committees.  Frequently, the firm has represented the largest unsecured trade creditors in several large bankruptcy matters.

The firm has also represented shareholders, retirees, ERISA plan participants, unions and other collective bargaining units, and individual tort claimants, as additional official committees under section 1102 of the United States Bankruptcy Code, under sections 1113 and 1114 (reserved for collective bargaining units and retirees) and for ad hoc or unofficial committees.

Elliott Greenleaf’s success in its representation of the Official Committee of Equity Security Holders in AgFeed USA, Inc. resulted in it being named among the firms that received the M&A Advisor Turnaround and International M&A Advisor awards for: 2014 M&A Deal of the Year (Over $50mm to $75mm); Agriculture Deal of the Year; and Sec. 363 Sale of the Year (Over $50mm to $100mm) in March 2014.  The firm and Mr. Zahralddin, also received the Large Company Transaction of the Year Award in 2014 from the Turnaround Management Association, a global non-profit organization comprised of turnaround and corporate renewal professionals.

Elliott Greenleaf’s attorneys maintain an active litigation practice, allowing them to be on the forefront of legal developments in the corporate and commercial practice of law.  This litigation expertise combined with one of the top creditors’ practices in the bankruptcy court, particularly as committee counsel in a variety of recent cases, the firm is intimately familiar with the most current corporate and commercial trends affecting committee practice.

The firm is also capable of handling the most complex corporate and commercial transactions.  Elliott Greenleaf offers the full range of legal services to meet its clients’ needs within all contexts of the corporate and commercial arenas, including mergers and acquisitions, internal investigations, shareholder and proxy disputes, corporate and commercial counseling, antitrust, and corporate governance.  This depth of expertise has also proved valuable to committees as bankruptcy cases have become more complex and lenders and debtors have become more creative in the current financial climate.

Significantly, some of these representations have been of constituencies that are the most vulnerable participants in an insolvency, including disabled former employees in the Nortel bankruptcies where the firm successfully secured continued care and coverage throughout the insolvency proceedings for the long term disabled and reached and liquidated a total settlement package and benefits of over $52 million for the disabled employees and their families.

The firm also secured an initial distribution for equity in the AgFeed bankruptcy approving a global settlement consisting of funding of a shareholder class action distribution, an SEC fairness fund, and distribution through a litigation trust that continues to seek further recoveries.  Agfeed’s equity holders were primarily retail and consumer shareholders, many of whom lost their entire retirement savings due to securities law violations committed by the firm’s management.

A representative list of committee and individual committee member engagements includes:

  • Official Committee of Equity Security Holders, In re: AgFeed USA, Inc., et al. (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors, In re: Apache Junction Hospital, LLC, (Bankr. D. AZ.).
  • Official Committee of Unsecured Creditors, In re: Graceway Pharmaceuticals LLC, et al., (Bankr. D. Del.).
  • Official Committee of Long Term Disability Plan Participants, In re: Nortel Networks, Inc., et al., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: World Space Inc. et. al., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: Accredited Home Lenders Co., et. al (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: eToys Direct 1, LLC, et. al., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: ManagedStorage International, Inc., et. al. (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: Norwood Promotional Products Holdings, Inc., et. al., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: The Fairchild Corporation, et. al. (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: Proliance International, Inc., et. al., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: HPG International, Inc., et. al. (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: Nailite International Inc., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re: DHP Holdings II Corporation, et. al., (Bankr. D. Del.).
  • Official Committee of Unsecured Creditors as Co-counsel, Delaware Counsel and Conflicts Counsel, In re ProxyMed, et. al., (Bankr. D. Del.).
  • ChipMOS Technologies (Bermuda) LTD, Chair of the Official Committee of Unsecured Creditors and largest unsecured creditor, In re: Spansion, LLC, et. al., (Bankr. D. Del.).
  • TEVA, Committee member, In re: ATLS Acquisition (Liberty Medical Supply).(Bankr. D. Del.).
  • ExxonMobil Chair of the Official Committee of Unsecured Creditors and largest unsecured trade creditor, In re: EZ Lube, LLC, et. al., (Bankr. D. Del.).
  • Aetna, Inc., Co-Chair of the Official Committee of Unsecured Creditors. In re Health Diagnostics Laboratory, et al.(Bankr, E.D. VA).
  • Ad Hoc Committee of Licensees, In re: UNI-MARTS, LLC, et al., (Bankr. D. Del.).
  • 3M Company, committee member, In re: Highway Technologies, Inc., et al., (Bankr. D. Del.).
  • General Unsecured Claimants Trust, In re: Highway Technologies, Inc., et al., (Bankr. D. Del.).