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Client Results - Insolvency and Creditors' Rights

  • Special Counsel for Chapter 11 Trustee in the In re Kobra Properties bankruptcy case (one of the largest bankruptcy cases in the history of the Eastern District of California).  Represented Trustee in the evaluation and prosecution of over six separate preferential and fraudulent transfer actions.

  • We represented the first priority secured creditor in a single asset real estate case of an LLC that owned co-tenancy property in Colorado. The case was unusual in several respects. First, the individual sole member of the LLC had his own chapter 11 case pending in the Eastern District of California with a recently confirmed plan. The individual Chapter 11 debtor's plan identified as a potential asset for creditors the purported equity in the LLC. The individual's Chapter 11 plan trustee controlled that equity. Second, the LLC initially had the cooperation and support of its non-debtor co-tenant who also held the second deed of trust on the LLC's property. We successfully resolved the matter by converting to an ally the co-tenant second deed of trust holder, convincing the plan trustee to accept one-time cash payment in exchange for the equity, obtaining a deed in lieu of foreclosure from the debtor, obtaining reconveyance of the second deed of trust and creating a tenancy in common agreement between our client and the non-debtor co-tenant allowing for our client to control development of the property.

  • We represented a city housing authority with junior (third and fourth) deeds of trust on residential properties serving as affordable housing for the community in the Chapter 11 of the owner of the properties. The housing authority faced the potential loss of its loans, its deeds of trust and the affordability restrictions on the properties. A bad outcome could have put many needy tenants on the street. With our assistance, the housing authority successfully negotiated deals with the owner and the senior lien holders that led to confirmation of a Chapter 11 plan that preserved the loans, the deeds of trust and the affordability restrictions.

  • We assisted a former spouse in obtaining dismissal of two successive Chapter 13 cases by her ex-husband that were designed to deprive the former spouse of her property settlement rights.

  • We represented a lender in obtaining stipulated nondischargeable judgment based on a false financial statement against a rancher who filed Chapter 11.

  • We acted as local counsel for the American affiliate of a multinational agribusiness conglomerate as the “stalking horse” asset purchaser the of a major California tomato processing facility, valued at $39 million, in the owner’s Chapter 11.

  • We acted as local counsel to the "white knight," a subsidiary of a major mutual fund company, which provided debtor in possession financing and plan exit financing and acquired the debtor'ss gold mining operation under a Chapter 11 plan of reorganization.

  • We litigated for a bank client a complex multi-loan judicial foreclosure action of real property involving substantive cross-claims for actual and punitive damages. After a six week jury trial, the case was concluded with a jury verdict in excess of $6,000,000.00 in favor of our client.

  • In the context of a complex adversary proceeding in a Chapter 11 proceeding, we successfully represented the holder of a first deed of trust securing in excess of $1,000,000 in an action involving an issue of first impression: whether adjudicated groundwater rights in California were real property or personal property. After a determination in favor of the client that the adjudicated water rights were real property, the client was paid approximately $700,000 from the sale proceeds of those rights and the lien priority position of the client was restored and affirmed.

  • In a Chapter 9 proceeding of national importance, we successfully represented a public entity and obtained the dismissal of one of the Chapter 9 proceedings. See In re County of Orange, 183 B.R. 594 (Bankr.C.D.Cal. 1995). Ultimately, the client received the disbursement of its monies held by the remaining debtor (approximately $1,000,000) and payment for its loss.

  • Substituting into the case after confirmation of a Chapter 12 plan, we successfully represented a bank client in defeating the modification of a confirmed Chapter 12 plan and thereafter obtained an award of post-dismissal sanctions against the borrowers in excess of $100,000 given the misconduct in the bankruptcy proceeding. See In re Davenport, 175 B.R.355 (Bankr. E.D. Cal. 1994). We also obtained the dismissal of lender liability claims made against the bank by the borrowers in various state court proceedings.

  • We represented a defrauded homeowner in defense of bankruptcy trustee's complaint to void purchase and achieved a settlement with no economic loss to the homeowner.

  • We represented a municipal utility in power purchase agreement rejection and post-petition termination in the Calpine Chapter 11 case.

Client Results
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Boutin Jones Inc.
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Sacramento, CA 95814
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