Refco -- Milbank represented the Official Committee of Unsecured Creditors in the bankruptcy of commodities broker Refco, Inc., one of the ten largest bankruptcies in United States’ history. Milbank litigators took the lead in investigating the fraud that led to Refco’s filing for bankruptcy only two months after it went public in a successful IPO; and prosecuted two cases that achieved more than $900 million in recoveries for Refco’s creditors.
Global Crossing -- Milbank represented the administrative agent to the senior secured lenders of Global Crossing, whose bankruptcy ranks as the seventh largest in United States’ history. Milbank litigators prosecuted two cases arising from the collapse, one against the former Vice Chairman of Global Crossing for breach of a promissory note and another against several officers and directors for alleged fraud in connection with the issuance of borrowing certificates, both of which resulted in substantial recoveries for the senior secured lenders.
Enron -- Milbank represented the Official Committee of Unsecured Creditors of Enron, which was at the time of filing the largest bankruptcy filing in U.S. history. Milbank litigators were actively involved in the investigation of Enron’s collapse; as well as pursuing claims against Enron’s former officers, directors, managers and professional advisors, working closely with top accounting and finance experts throughout the country.
Adelphia Communications -- Milbank represents Citibank, N.A. and Citicorp USA, Inc. in connection with the Adelphia Communications Corporation bankruptcy. Milbank litigators are defending adversary proceedings brought against Citibank in its capacity as administrative agent.
Americas Mining Corporation -- Milbank litigators are currently representing Americas Mining Corporation ("AMC") and two related entities, ASARCO Inc. and Grupo Mexico, S.A.B. de C.V. in a series of contested matters and adversary proceedings arising from the bankruptcy of one of AMC's subsidiaries, ASARCO LLC. Milbank litigators have taken the lead in defending several actions, including an asbestos liability proceeding; a fraudulent transfer action related to the purchase by AMC of related copper mining company; and environmental estimation proceedings.
Granite Broadcasting -- Milbank represented Silver Point Finance, the senior secured lender to Granite Broadcasting, Inc., a television broadcasting company, in a contested bankruptcy. Milbank litigators took the lead in getting confirmation of the plan of reorganization through which Silver Point acquired a controlling equity interest over the strenuous objections of preferred stockholders.
OCA -- Milbank represented Silver Point Finance, the senior secured lender to OCA, Inc., a national dental services company, in a contested bankruptcy case and in related litigation. After a multi-day confirmation hearing, the bankruptcy court confirmed the plan of reorganization over objections by various creditors.
PhyAmerica -- Milbank represents the PAPPG Grantor Trust, which collects and distributes assets for the benefit of various classes of creditors of PhyAmerica, a national emergency-room staffing organization. Milbank litigators prosecuted three adversary proceedings against the former CEO, each of which resulted in a favorable settlement for our client; and continues to represent the trust in other creditor-recovery actions.
Radnor Holdings -- Milbank represented Tennenbaum Capital Partners and one of its individual partners in an adversary proceeding arising from the Radnor Holdings Corporation bankruptcy. Milbank litigators achieved a complete trial victory when the Court rejected in full the effort by Radnor’s creditors to subordinate and disallow TCP’s claims and to extract damages from TCP.
Nellson Nutraceutical -- Milbank represented UBS AG in its capacity as administrative agent for the secured lenders in contested matters arising out of the Nellson Nutraceutical bankruptcy. Milbank litigators achieved a victory in a fully litigated adversary proceeding to determine the value of Nellson, in which the Court, on Milbank’s motion, excluded Nellson’s valuation expert and held that Nellson’s business plan had been “manipulated” to achieve their desired value.