Residential Capital, LLC
(Bankr. S.D.N.Y.) Counsel to Residential Capital, one of the largest residential real estate finance companies with assets and liabilities each in excess of $15 billion, whose business is comprised primarily of loan servicing and origination, and its subsidiary companies, in their pending chapter 11 cases. Residential Capital was the largest bankruptcy filing of 2012 and the case represents the first time ever that a mortgage servicer was able to successfully continue servicing and originating mortgages in bankruptcy and be sold as a going concern.
In re Ambac Financial Group, Inc.
(Bankr. S.D.N.Y.) Representation of the Official Committee of Unsecured Creditors in one of the largest Chapter 11 cases filed in 2010.
PMI Group, Inc.
(Bankr. D. Del.) Representation of the Official Committee of Unsecured Creditors of mortgage insurer PMI Group, Inc. in its Chapter 11 bankruptcy.
(Bankr. S.D.N.Y.) Representation of the Official Committee of Unsecured Creditors of FGIC Corporation in its Chapter 11 bankruptcy case. FGIC had guarantied more than $300 billion of municipal and structured finance debt before the 2007 credit crisis.
Alfinsa Bienes Tangibles S.A.
Representation of the administrators of Alfinsa, on the sale by Alfinsa to Spectrum Group International (SGI) of 47% of the shares of SGI and 20% of the shares of an SGI subsidiary. Total consideration was approximately €51 million. Alfinsa was a Madrid-based investment house and stamp trading company closed by Spanish authorities following allegations that it engaged in a Ponzi scheme by trading worthless stamps. Listing over 4.2 billion in assets at the time of its 2006 bankruptcy filing, it represents one of the largest bankruptcies in Spanish history. SGI is a publicly-traded Fortune 500 trading and collectibles company based in the United States.