When a large telecommunication company recently filed Chapter 11 bankruptcy, another telecommunication company retained Freeborn & Peters LLP to protect its rights as a “utility” under Section 366 of the U.S. Bankruptcy Code, as amended by the Bankruptcy Abuse Prevention & Consumer Protection Act of 2005 (“BAPCPA”), and as the single largest unsecured creditor of the debtor.
A team of Freeborn & Peters LLP bankruptcy, litigation and telecommunications lawyers navigated uncharted territory under the BAPCPA, objecting to the debtor’s reorganization plan and other court orders obtained in violation of the BAPCPA. Our attorneys ultimately obtained substantial concessions from the debtor and its senior lenders through a comprehensive settlement. In addition to the significant economic protections awarded to our client on its projected $120 million annual economic relationship with the debtor post-bankruptcy, the debtor expunged from the record the section 366 utility order obtained in conflict with the BAPCPA.
Freeborn & Peters LLP attorneys Aaron Hammer, John Shapiro and Randy Vickery lead a team that included Joji Takada, Gia Colunga and Edward Watson in this case.