Three Issues to Navigate to Avoid a Retailer’s Liquidation
By Frank Merola and Gabriel Sasson, Partners & Samantha Martin, Of Counsel, Paul Hastings LLP
Retail reorganizations fail at an alarming rate. While nearly half of all large retail Chapter 11 cases that begin with aspirations of reorganizing ultimately liquidate, only a small fraction of mega cases in other industries end in a liquidation.
As a result of the retail business model...
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Samantha Martin is of counsel in the Financial Restructuring group at Paul Hastings and is based in New York. She has significant experience representing debtors, official committees of unsecured creditors, ad hoc groups of bondholders and lenders, individual creditors, purchasers, and liquidating trustees in all aspects of complex corporate restructurings, including Chapter 11 cases and out-of-court restructurings. Martin also has advised foreign representatives in Chapter 15 recognition proceedings. She currently serves as communications manager for ABI’s Unsecured Trade Creditors Committee.
Gabriel Sasson is a partner in the Financial Restructuring group at Paul Hastings based in New York. He concentrates his practice on bankruptcy proceedings and restructuring transactions and has extensive experience representing ad hoc groups of bondholders, secured lenders and other creditors, DIP lenders, official committees of unsecured creditors, indenture trustees, equity holders, and debtors in connection with in-court and out-of-court restructurings. Sasson also has experience in representing large insurance companies as creditors in Chapter 11 and Chapter 7 proceedings.
Frank Merola is a partner in the Financial Restructuring group at Paul Hastings. With nearly 30 years in practice, his legal and business acumen have earned him a reputation as a bold and tireless advocate in business reorganization who achieves clients’ objectives, both in and out of court. Merola advises debtors, creditors, official and ad hoc committees, acquirers, and equity holders while servicing a spectrum of industries, including real estate, gaming and leisure, oil and gas, retail, healthcare, and communications.