|[March 11, 2014]
Greenberg Glusker's Bankruptcy Group Named Winner of M&A Advisor Turnaround Award
LOS ANGELES --(Business Wire)--
Greenberg Glusker today announced that its Bankruptcy,
Reorganization and Capital Recovery practice has been chosen
to receive a Turnaround Award by The
M&A Advisor in the category of Sec. 363 Sale of the Year.
The award for the Section 363 Sale of the Year (between $10M and $50M)
was given to recognize Greenberg Glusker's work in connection with the
sale of Rhythm & Hues (R&H), the multiple Oscar winner and visual
effects provider for the movie "Life of Pi." Following an emergency
bankruptcy filing, and an interim DIP loan, Debtor R&H was sold in less
than 90 days in a 363 auction for approximately $30,000,000. Remarkably,
the company, which had run out of cash to pay payroll before the chapter
11 filing, was transitioned to a successful sale. During this time
period, the Greenberg Glusker restructuring and deal teams worked
virtually around the clock to ensure the Debtor's successful transition
into chapter 11, the approval of the DIP loan and other administrative
requirements of bankruptcy, and engaged in a robust two-day auction for
"The intense efforts of our bankruptcy tam with the support of the
corporate and employment lawyers at the Firm came together seamlessly to
support R&H in arranging financing for the company, handling the
numerous employment-law issues as the company transitioned into chapter
11 and the ultimate sale of the company," said Brian
Davidoff, the chair of Greenberg Glusker's Bankruptcy,
Reorganization and Capital Recovery practice.
Greenberg Glusker worked with Scouler
& Co. as the financial adviser, and Houlihan
Lokey as the investment banker.
"The award winners represent the best of the distressed investing and
reorganization industry in 2013 and earned these honors by standing out
in a group of very impressive candidates," said David Fergusson,
president of The
M&A Advisor. "From lower middle market to multi-billion dollar
deals, we have recognized the leading transactions, firms and
individuals that represent the highest levels of performance."
The nominations, representing over 500 participating companies, were
judged by an independent jury of industry experts. The awards were
presented at a Gala Dinner in Palm Beach, Florida on March 11, 2014.
About The M&A Advisor
Since 1998, The M&A Advisor has been presenting, recognizing the
achievement of and facilitating connections between the world's leading
mergers and acquisitions, financing and turnaround professionals with a
comprehensive range of services including M&A SUMMITS; M&A AWARDS; M&A
CONNECTS; M&A ALERTS, M&A LINKS, and M&A MARKET INTEL. More information
is available at www.maadvisor.com.
About Greenberg Glusker
For nearly 55 years, Greenberg Glusker has held a unique position in Los
Angeles as a full-service law firm. Greenberg Glusker maximizes client
potential by providing strategic business and legal counsel in matters
involving bankruptcy, corporate, employment, entertainment,
environmental, intellectual property, litigation, real estate, taxation
and trusts and estates. For more information, visit GreenbergGlusker.com.
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