Federal Bankruptcy Litigation
Represented private equity firm in multi-state litigation filed in the Federal Bankruptcy Court for the Central District of California, defending the client against claims for breach of fiduciary duty. The highly contested and complex case revolved around the client’s investment in a distributor of medical devices that filed for Chapter 11 bankruptcy relief. The litigation was commenced in the bankruptcy court by the Creditors’ Committee, and it eventually involved concurrent proceedings before several federal district court judges. By vigorously contesting the allegations at every stage of the proceedings, and aligning the client’s defense with other co-defendants, a very favorable settlement was obtained and the claims were ultimately dismissed with prejudice.
Davis's significant commercial bankruptcy experience includes his representation of:
- Quincy Medical Center in the Chapter 11 sale of its hospital and the subsequent plan of liquidation.
- Waste Systems International, Inc., a solid waste disposal company with liabilities of $150 million, in its successful Chapter 11 reorganization.
- DB Companies, Inc., a chain of 150 convenience stores and gas stations, in the company's Chapter 11 case, where Davis worked closely with the company's management and investment banker to develop and implement a multi-pronged sale process resulting in 50 separate sale transactions generating greater than expected value.
- Plassein International Corp., a manufacturer of plastic packaging in the United States and Canada with sales of $150 million, in the Chapter 11 sale of its business as a going concern.
- Number Nine Visual Technology Corp., a publicly-held developer and manufacturer of graphics boards and a proprietary internet appliance, in its Chapter 11 case in which the company successfully accomplished the sale of its technology on an expedited basis.
- NordicTrack, Inc., a manufacturer of exercise equipment with peak sales of $480 million, in its successful liquidation under Chapter 11.