- Category
- Announcements
- Date
- July 02, 2008
- Title
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Kramer Levin Successfully Represents Unsecured Creditors' Committee as Dura Emerges Out of Chapter 11
After two management incentive compensation fights, one failed rights offering, two DIP financing agreements, numerous disclosure statements and plans of reorganization, and countless brinksmanship negotiating sessions, Dura Automotive has successfully emerged from Chapter 11. As counsel to the Dura creditors’ committee, we often found ourselves at odds with the company and other lender groups; however, the plan of reorganization represents a negotiated settlement that provides unsecured creditors with 100% of the common stock of the company. In this difficult credit market, a de-leveraged Dura will be best positioned to succeed in what all recognize is a “challenged” automotive sector.
The Kramer Levin Dura team includes: Thomas Moers Mayer, Peter S. Kolevzon, P. Bradley O'Neill, Andrew J. Klein and Jennifer Sharret. Blake Cleary and Edward Morton of Young Conaway Stargatt & Taylor served as our local DE counsel.
Related People
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Thomas Moers Mayer
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- Partner
- New York
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P. Bradley O'Neill
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- Partner
- New York
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Jennifer R. Sharret
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- Counsel
- New York
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