Experience

Chapter 7 Representation of Trustee

A converted Chapter 11 case for two debtors who between them employed several hundred employees. The largest secured creditor was owed approximately $30 million. This representation involved a number of complex matters. For example, immediately it was necessary to terminate a self-funded health plan and oversee the unwinding of that health plan. In addition, Verrill is in the process of coordinating the termination of two 401(k) profit sharing plans. Counsel also negotiated an agreement with the largest secured creditor to allow the Trustee to conduct asset sales of the tangible assets of both Debtors. Counsel is now coordinating the collection of accounts receivable. In addition, a seven-figure dispute with an insider relating to the perfection of its claimed consignment interest in inventory of one of the Debtors is now the subject of a pending adversary proceeding. Numerous employee claims are in the process of being evaluated and addressed arising from the Debtors' decision to terminate virtually all of their employees prior to conversion of the cases. Verrill is also evaluating a number of claims against insiders, and it is anticipated that claims arising under Delaware law will be pursued.

In representing the Trustee in this matter, Verrill sought the assistance of attorneys in the Employee Benefits & Executive Compensation Group relating to what has been described by the administrator for the 401(k) profit sharing plans as the largest plan termination matter being handled by her company right now.

The work for the Trustee in the Wood Structures case is ongoing and will not be completed for some time.

Eucalyptus Plantation Purchase

We represented the purchaser in the acquisition and financing of a eucalyptus plantation in Hawaii and the negotiation of a biomass supply agreement.

In re Interep National Radio Sales, Inc., et al.

In this case, Verrill defended multiple parties against preference claims made by the Chapter 7 Trustee in this converted chapter 11 case. Our client's faced claims totaling over $200,000; Verrill was able to resolve the matters for approximately 25% of the demand.

In re NewPage Corporation

Verrill represented a Maine-based trade supplier in asserting administrative claims against the debtor's estate pursuant to section 503(b)(9) of the Code and favorably resolved the debtor's resulting objection.

In re Smurfit-Stone Container Corporation, et al.

Verrill represented a Maine-based trade supplier in asserting administrative claims against the debtor's estate pursuant to section 503(b)(9) of the Code and favorably resolved the debtor's resulting objection.

Representation of Chapter 7 Trustee: Red Shield Acquisition, LLC

Verrill was selected as counsel to the Chapter 7 Trustee for Red Shield Acquisition, LLC. The first priority in our engagement was successfully securing bankruptcy court approval for the sale of the Debtor's pulp mill in Old Town, Maine under section 363 of the Bankruptcy Code. Verrill accomplished this primary objective in a mere 26 days from our selection as Trustee's counsel. Although the work for the Trustee in this case is on-going, securing approval for the sale of the Debtor's assets this quickly permitted some 200 furloughed employees of the Debtor to return to work before the holidays and permitted this important asset in Maine's economy to be back online as soon as possible.

Timberland Acquisition and Sale of Conservation Easement

We provided representation of a purchaser in the acquisition of commercial timberland and the sale of a conservation easement in Monroe County, Alabama.

Firm Highlights

Matter

Recovery From Surety and Professional Liability Carrier for Defective Turbine and Biomass Energy Facility Components

Our client developed a biomass fired cogeneration power facility to sell power back to the grid and to support its sawmill operations. As part of this project, it entered into a $13+ million contract...

Blog

DOL Signals Heightened Enforcement of Non-Quantitative Treatment Limitation Requirements

Introduction . When the U.S. Department of Labor issued its biennial 2022 Mental Health Parity and Addiction Equity Act (“MHPAEA”) Report to Congress earlier this year, it outlined significant noncompliance by health plans. (Full...

Publication/Podcast

Massachusetts Employers Beware: Any Late Wage Payment Means Liability for Triple Damages

Last month, in Reuter v. City of Methuen , the Massachusetts Supreme Judicial Court held that any late payment of wages by an employer results in strict liability for treble damages under the Wage...

Publication/Podcast

New Rules for Apprentices on Energy Projects Come with Uncertainty for Contractors and Developers

On January 1, 2021, a new law went into effect setting benchmarks for use of apprentices on energy generation facility construction projects. Enacted in 2019, the law was part of “An Act to Establish...

Blog

Supreme Leak: Religion at Work

Over the last year, our society has navigated COVID-19 and rules concerning vaccination and masking. As a society and on this blog, we have discussed regularly the role religious freedoms play in the work...

Matter

Procurement

We have assisted many owners, and contractors in design and construction contracting including: Massachusetts Institute of Technology Investment Management Company on over a billion dollars in projects in Kendall Square area of Cambridge, Massachusetts...

News

Verrill attorney Elizabeth Connellan Smith Elected to the Board of Governors of The College of Workers’ Compensation Lawyers

Blog

Supreme Leak: NLRA Rights

For blog followers, you likely saw last week’s post reminding you to revisit your confidentiality policies in the wake of the leaking of the Supreme Court’s draft opinion in Dobbs v. Jackson Women’s Health...

Publication/Podcast

Connecticut’s new privacy law: What you need to know

As part of its growing privacy practice, Verrill is pleased to share this advisory on Connecticut’s new privacy law. Verrill is pleased to offer a sophisticated range of privacy and cybersecurity services. On May...

News

Two Verrill Attorneys Appointed to the Connecticut Bar Association’s Pandemic Recovery and the Future of Court Technology Task Force

Contact Verrill at (855) 307 0700