Situations of financial distress in which the firm has served
an important role include many where, due to the private nature
of the restructuring, listing of the company name would not be
appropriate. Publicly-disclosed matters include:
Waste Systems International, Inc. et al., a solid waste disposal company with liabilities of $150 million. Cohn Whitesell & Goldberg represented the company in its successful Chapter 11 reorganization, in which the equity sponsor retained ownership in exchange for an additional investment.
Wash Depot Holdings, Inc., a nationwide operator of car washes, quick lube centers, gas stations and convenience stores with liabilities of $130 million. The firm represented the company in its successful Chapter 11 reorganization, in which one of the lenders acquired the equity of the restructured enterprise.
Diam International, Inc., a designer and manufacturer of retail product displays with sales of $250 million. Cohn Whitesell & Goldberg represented the company in a out-of-court restructuring whereby almost half of its revolving credit facility of $100 million was forgiven, and the common stock remained in the hands of the equity sponsor.
Wolverine, Proctor & Schwartz, Inc., a manufacturer of industrial ovens with sales in excess of $50 million. Cohn Whitesell & Goldberg represented the stockholder in an out-of-court debt restructuring whereby its secured credit facility was discharged in exchange for payment of half of the outstanding amount.
DB Companies, Inc., a chain of 150 convenience stores and gas stations in the northeast, with revenues of $175 million. The firm represented the company in selling its retail locations through Chapter 11.
Plassein International Corp., a manufacturer of flexible packaging in the United States and Canada with sales of $150 million. Cohn Whitesell & Goldberg represented the company in selling its business, on a going-concern basis, under Chapter 11.
Acushnet Rubber Co., Inc., a manufacturer of automotive components with sales of $35 million. The firm represented the company in its successful out-of-court restructuring of its bank loans.
Shape Inc., a major independent manufacturer of audio and video cassettes, with sales of $100 million. The firm represented the Chapter 11 trustee in obtaining confirmation of a plan of reorganization paying a 100% dividend to creditors while maintaining the company's independence.
New Hampshire Electric Cooperative, Inc., an electric utility with approximately 60,000 customers and $270 million in debt. Cohn Whitesell & Goldberg represented the utility in obtaining confirmation of a Chapter 11 plan that restructured debt resulting from investment in a nuclear power plant while maintaining the utility as an independent company.
Insurance Holdings of America, an insurance marketing and technology company with liabilities of $30 million. The firm served as creditors' trustee under an out-of-court wind-down arrangement approved by creditors as a quicker and less expensive alternative to bankruptcy.
Corners, Inc., a chain of picture-framing stores with liabilities of $17 million. Cohn Whitesell & Goldberg represented the company in its successful Chapter 11 reorganization.
Newcare Health Corporation, et al., owners and operators of health-care facilities with revenues of $60 million. In the company's Chapter 11 cases, Cohn Whitesell & Goldberg represented a secured lender which, through a related party, purchased substantially all of the debtors' assets in a bankruptcy sale outside of a plan.
Number Nine Visual Technology Corp., a publicly-held developer and manufacturer of graphics boards and a proprietary internet appliance. The firm represented the company in its Chapter 11 reorganization in which it successfully accomplished the sale of its technology and transfer of its employees to an acquiror on an expedited basis.
NordicTrack, Inc., a manufacturer of exercise equipment with peak sales of $480 million. Cohn Whitesell & Goldberg represented the company in its successful liquidation under Chapter 11.
Furniture.com, once the largest internet retailer of home furnishings. Cohn Whitesell & Goldberg represented the company in its Chapter 11 case designed to maximize the proceeds from liquidation of the business.
Boston Regional Medical Center, Inc., a hospital with liabilities exceeding $50 million, which ceased operations and liquidated under Chapter 11. Cohn Whitesell & Goldberg represented the purchaser of the hospital's equipment.
Massachusetts Recycling Associates Limited Partnership, a pulp mill with debts of $180 million. Cohn Whitesell & Goldberg represented the partnership in successfully confirming its Chapter 11 plan.
P.H. Chadbourne & Co., a lumber mill with annual revenues of $14 million. Cohn Whitesell & Goldberg represented this family-owned company in its successful Chapter 11 reorganization.
Education Loan Services, Inc., a loan-servicing company responsible for $3.4 billion in student loans owned by 80 different client financial institutions. Cohn Whitesell & Goldberg represented the company in an out-of-court program successfully transferring the loan portfolios to other servicers while avoiding the enormous loss to clients that would have resulted from a sudden cessation of servicing.
P.J. Keating Company, a producer of asphalt, crushed stone and related materials. In the company's Chapter 11 case, Cohn Whitesell & Goldberg represented an international construction conglomerate in defeating a plan proposed by the company's management and acquiring the company through a competing plan.
Haskon Corporation, a manufacturer of components for the aviation industry that was liquidated under the Bankruptcy Code. The firm served as court-approved mediator, successfully resolving disputes between the bankruptcy trustee and the principal secured creditor.
AHF/Woodlawn Manor, Inc., a non-profit owner of a 200-bed nursing home. The firm represented the company in successfully confirming a Chapter 11 plan resolving, among other issues, state and federal government claims to recoup overpayments under the Medicaid and Medicare programs.
Mason & Hamlin Corp., a 150-year old piano manufacturer, among the most distinguished in the American piano industry. The firm represented the creditors' committee in defeating management's Chapter 11 plan offering 14% payment to creditors and obtaining confirmation of the committee's own plan paying more than 70%.
Standard Box Co., Inc., a manufacturer of folding paper boxes. The firm represented the Chapter 11 creditors' committee in obtaining confirmation of a liquidating plan providing for full payment to creditors.
Stadium Management Corp., owner of the stadium where home games of the New England Patriots football club are played. The firm represented the Chapter 11 trustee in selling the stadium and resolving litigation on terms providing a substantial distribution to creditors.
Cape Cod Broadcasting, L.P., et al., operator of radio stations in Massachusetts and Florida. Cohn Whitesell & Goldberg represented the state court receiver who sold these stations as going concerns, maximizing the secured creditors' recovery and providing full payment to trade creditors.
Westra Plastics, Inc., a specialty plastics manufacturer based in upstate New York. The firm represented the federal court receiver who sold the company as a going concern, maximizing the secured creditors' recovery and providing full payment to trade creditors.
Wang Laboratories, Inc., a computer company with annual sales of more than $1 billion. The firm served as co-counsel to the official committee of common stockholders in the company's successful Chapter 11 case.
Healthco International, Inc., a worldwide distributor of dental products
with sales exceeding $200 million. In this Chapter 7 liquidation
originally designated as a "no-asset" case, the firm
represented the trustee in achieving a distribution to unsecured
creditors exceeding 20% on claims of $90 million.