Creditors' Committee / Other Creditor Representations

Ableco Finance LLC: KTBS has represented Ableco Finance LLC and its affiliates as a prepetition creditor and, in certain instances, as debtor in possession lender, in a number of cases, including International Industrial Services, Inc. (Cooperheat), The Ground Round, inc. (American Hospitality Group), Allied Holdings, Inc., and other matters.

Adelphia Communications Corporation Unsecured Creditors’ Committee: KTBS presently serves as special counsel to the official unsecured creditors’ committee in this case, investigating potential claims relating to approximately $13 billion in secured and unsecured debt.

Ameriserve: represented one of the largest unsecured creditors in the chapter 11 case of Ameriserve.

Black Hawk: Represented ad hoc committee of noteholders in connection with chapter 11 case of the Black Hawk Casino in Colorado. KTBS coordinated the sale of the debtor's assets with the ad hoc committee's investment banker and negotiated a consensual plan of reorganization (which was effectuated) pursuant to which noteholders received a 100% recovery (plus professional fees).

Chevy's Restaurants: Represented one of the largest unsecured creditors of Chevy's in connection with Chevy's Chapter 11 Case in Oakland California. Negotiated, as vice chair of the official committee of unsecured creditors, a consensual plan of reorganization (which was effectuated) providing for a significant distribution to unsecured creditors.

First Alliance Mortgage Company Official Unsecured Creditors' Committee: represented official committee of unsecured creditors in chapter 11 case of major sub-prime residential real estate lender.  Plan was confirmed and unsecured creditors received in excess of 60% dividend.

Fog Cap Acceptance Inc.: represented senior secured creditor of single asset real estate debtor in Las Vegas, Nevada. KTBS investigated and successfully prosecuted dismissal of debtor's case as a bad faith chapter 11 filing based upon a variety of pre-bankruptcy and post-bankruptcy acts by the debtor and related parties. KTBS obtained an order of dismissal within 30 days of the filing of the debtor's petition.

Fog Cutter Capital Group, Inc.: represented junior secured creditor and collateral agent in connection with chapter 11 case of Strouds Acquisition Corporation. KTBS negotiated to obtain payment in full, plus interest and professional fees, during the first two months of the case in connection with a court-approved liquidation sale.

Fremont General Corporation: Represents official unsecured creditors' committee of chapter 11 holding company that owns Fremont Investment & Loan, formally a bank now undergoing liquidation.

Heartland Automotive Holdings, Inc. et. al.: KTBS represented Dymas Funding Company, LLC, as agent and lender and certain of the other lenders in connection with the chapter 11 cases of Heartland Automotive in Texas. The secured indebtedness of the lenders (approximately $189 million) was restructured pursuant to a consensual plan.

ICO Global Communications: represented bondholder group in ICO Global Communications chapter 11 case, comprised of Magten Asset Management Corp., Oaktree Capital Management, Cerberus Capital Management, LLC, Aristeia Capital LLC, Mackay Shields Financial Corporation.

Iridium Official Unsecured Creditors' Committee: represent official committee of unsecured creditors in chapter 11 cases of the Iridium companies, a failed satellite enterprise involving over $3 billion in debt; KTBS served as special litigation counsel to investigate and prosecute claims against Iridium's lenders; successfully negotiated a settlement for unsecured creditors in excess of $50 million.

Maxicare Official Unsecured Creditors' Committee: represent official committee of unsecured creditors in chapter 11 case of major health maintenance organization.

National Century Financial Enterprises: serving as special counsel to Official Subcommittee of NPF XII Noteholders concerning notes totaling over $2 billion, with respect to causes of action for recovery against related entities in excess of $300 million; liquidating debtors formerly engaged in the business of financing of health care industry receivables.

Paramount Studios/Viacom: major creditor in the Kmart, Carmike, Edwards Cinemas, General Cinemas and United Artists Theater bankrupties; creditor and purchaser in Weststar (Mann Theaters) chapter 11 cases.

PG&E National Energy Group, Inc.: represented Ad Hoc Group of Noteholders with respect to out-of-court negotiations concerning notes totaling $1 billion principal; counsel to Official Noteholders' Committee appointed by the court pursuant to contested motion.

Pliant Corporation: represented an ad hoc committee of $250 million second lien indebtedness. The committee opposed a plan of reorganization proposed by Pliant, based upon feasibility and other grounds. KTBS attorneys cross-examined Pliant's witnesses, after which Court suggested and the parties agreed to participate in a mediation. KTBS thereupon negotiated a favorable settlement of the committee's objections and the plan was confirmed consensually several days later.

Prandium, Inc.: represented an informal group of bondholders holding a majority of approximately $120 million (principal plus interest) in outstanding bonds in connection with pre-packaged chapter 11 restructuring; company engaged in the operation of restaurants in the full-service and fast-casual industry segments.

Quokka Sports, Inc.: represented unofficial committee of the 7% Convertible Promissory Notes in this chapter 11 case and successfully settled, under a plan of reorganization, preference and and other potential claims against the holders of the Notes totaling at least $12 million; settlement provided for full release of claims without any payment by noteholders, plus reimbursement of substantial portion of fees incurred by the firm in connection with the case.

Ritter Ranch: Represented secured creditors in chapter 11 case of Southern California real estate owner. Negotiated significant distributions to clients, following which case was consensually dismissed.

Sydran Companies: Represented large secured creditor of the Sydran companies (one of the largest Burger King franchisees) in connection with the Sydran companies' chapter 11 cases in Oakland, California. Negotiated consensual plan of reorganization (which was effectuated) providing for a significant recovery for client.

Tennenbaum Capital Partners, Inc.: counsel in connection with claims exceeding $25 million in bankruptcy of Read-Rite Corporation; payment in full received within 45 days of case.

ZiLOG, Inc.: represented an informal group of secured bondholders holding approximately $157 million of $280 million in outstanding bonds in connection with prepackaged chapter 11 restructuring; company designs, manufactures and markets semiconductor micro devices.