Bankruptcy and Commercial Litigation

KTB&S represents both plaintiffs and defendants in litigation involving preferences, fraudulent transfers, leveraged buyouts and lien validity and priority disputes as well as related matters affecting troubled enterprises.

Representative Client List

• Adelphia Communications Corporate Unsecured Creditors' Committee

  KTB&S served as special counsel to the official unsecured creditors’ committee in this case, prosecuting potential claims relating to approximately $13 billion in secured and unsecured debt.

• Brobeck Phleger & Harrison LLP Former Partners

  KTB&S represented approximately 125 former partners of Brobeck in connection with disputes relating to that firm's chapter 7 bankruptcy.

• CBS

  KTB&S has represented and currently represents CBS in connection with numerous chapter 11 cases throughout the country.

• CHF Capital Partners

  KTB&S successfully defended CHF against claims of more than $100 million relating to the leveraged buyout and subsequent chapter 11 of Burke Industries.

• Enron

  KTB&S served as lead counsel for the Enron estate in the so-called “Mega Claims” litigation against Citigroup, Deutsche Bank and various related parties. This litigation was resolved successfully, following the defeat of motions to withdraw the reference, and resulted in the recovery by the estate of almost $1.7 billion in cash and waivers in excess of $4.5 billion in claims.

• Florida Power & Light

  KTB&S successfully prosecuted litigation on behalf of FP&L and affiliates, relating to their ownership of numerous generating facilities, in connection with the Pacific Gas & Electric chapter 11 case and the related problems of Southern California Edison.

• Iridium Official Unsecured Creditors' Committee

  KTB&S served as special litigation counsel to investigate and prosecute claims against Iridium's lenders; successfully negotiated a settlement that produced in excess of $50 million for unsecured creditors.

• Levine Leichtman Capital Partners

  KTB&S represented and successfully resolved litigation against LLCP relating to the Chorus Line and Carole Little chapter 11 cases.

• National Century Financial Enterprises Creditors

  KTB&S served as special counsel to Official Subcommittee of NPF XII Noteholders concerning notes totaling over $2 billion, and achieved a favorable settlement. The firm also served as special counsel to a trust set up under the plan to pursue a $75 million preferential transfer to one of NCFE’s investment banks.

• Paramount Studios/Viacom

  KTB&S has represented and currently represents Paramount and Viacom in numerous chapter 11 cases throughout the country.

• Pioneer Electronics (USA), Inc.

  KTB&S has represented Pioneer in connection with preference, fraudulent transfer and franchise termination litigation in numerous chapter 11 cases, including Druckers, Valley Media, Carter Hawley Hale, Ames Department Stores, Poplar Place Stereo and Highland Superstores.

• Quokka Sports, Inc.

  KTB&S represented an unofficial committee of the 7% Convertible Promissory Notes in this chapter 11 case and successfully settled, under a plan of reorganization, preference and other potential claims against the holders of the Notes totaling at least $12 million. The settlement provided for a full release of claims without any payment by noteholders, plus reimbursement of a substantial portion of the fees incurred by the firm in connection with the case.

• TCW

  KTB&S represents TCW in connection with litigation filed by the Brill Media chapter 11 estate against it.

• Thorpe Insulation Company

  KTB&S represents Thorpe Insulation Company, a former mechanical insulation installer, as special appellate counsel in its pending chapter 11 case in which it seeks to confirm a plan of reorganization, and globally resolve its asbestos-related liabilities, pursuant to section 524(g) of the Bankruptcy Code.