more lead changes
than the 2006 Rose
Bowl, but KGI
was a level-headed
quickly adapting to
and assimilating data
to provide analysis
that led to more
results for its clients."
- Dean Rallis, Sulmeyer Kupetz, Counsel to the Unsecured Creditors' Committee
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KGI Advises on $320M Restructuring
Competing Plan Prevails in Confirmation Battle
- Represents Unsecured Creditors' Committee, Equity Holders' Committee and serves as Court-Appointed Monitor
- 100% Recovery for Unsecured Creditors
- 5X Recovery for Equity Holders vs. Initial Proposal
- Competing Plan backed by Unsecured Creditors and Equity Holders Prevails in Extraordinary Bankruptcy Result
On March 26, 2009, Meruelo Maddux Properties, Inc. ("MMPI") and its 53 related Debtor entities filed for Chapter 11 protection. On July 25, 2011, MMPI exited from Chapter 11 with new management, new majority ownership, and $38 million of new capital under the competing Plan of Reorganization sponsored by Mount Kellett Capital Management and Global Asset Capital (the "Charlestown Plan").
This extraordinary case, which featured three competing plan proponents filing multiple versions of their Plans of Reorganization, will reverberate in real estate and legal circles for many years to come.
KGI served in multiple roles throughout the case, providing analysis and advice that led to its clients achieving these exceptional results. As Steven Taylor of The Taylor Fund and Chairman of the Equity Holders’ Committee explained, "KGI's ability to integrate the financial data with the broader dynamics of the bankruptcy process was invaluable in helping the Committee reach this tremendously successful result."
KGI combined its deep Financial Restructuring expertise with the resources of its standout Real Estate Group to provide superior advice to its clients. Call KGI when you require:
- Restructuring debts, consensually or via bankruptcy
- Raising capital for distressed or special situations
- Resolving inter-creditor or ownership conflicts
- Executing sales or orderly liquidations
- Providing litigation support
Whether a Company is struggling financially or on the cusp of breakthrough growth, KGI can help. Our seasoned experts work alongside management to solve complex cash flow issues, operational challenges and other business crises. If liquidity or sale is needed, KGI provides a powerful combination of services and expertise to achieve outcomes that cannot be duplicated by other standalone consulting firms.