David M. Schilli

Bankruptcy Engagements

• Represents the debtor in two separate and unrelated Chapter 11 cases filed to permanently, globally and fairly address asbestos claims through a reorganization plan that includes a channeling injunction under Bankruptcy Code § 524(g).
• Represents equity holders in quick-serve restaurant chains in two separate and unrelated Chapter 11 cases of those restaurant chains.
• Represents on a national basis a provider of dialysis services and products in all aspects of bankruptcy and insolvency proceedings.
• Represents an international supplier of infrastructure solutions for communication networks in all aspects of U.S. and cross-board bankruptcy cases of suppliers and customers, involving reclamation, post-petition supply on open account, preservation of administrative claims, impact of bankruptcy filing on existing supply agreements, proof of claim filings, preference defense and asset sale issues.
• Represented a manufacturer in corporate restructuring to protect the operating business and enable the business unit with asbestos claims to be sold.
• Represented a bidder in section 363 sale process for substantially all of the assets of provider of live and on-demand video delivery solutions.
• Represented a large regional bank in pursuing collection remedies on a senior credit facility secured by substantially all assets of a NASCAR Cup Series race team, including pursuing appointment of receiver and, following a Chapter 11 filing, obtaining appointment of a Chapter 11 trustee that resulted in the sale of the race team.

Out-of-Court Restructurings & Workouts

• Represented a minority investor and loan guarantor in out-of-court distressed sale of real estate project containing wedding and event space, distillery space and a commercial kitchen.
• Represented a national bank in the restructuring of a multi-borrower senior credit facility secured by the accounts receivable and real estate of a national distribution and logistics company, in a senior secured loan workout secured by a mixed-use (multifamily and office) project, and in the restructuring of a senior credit facility to a borrower in the textile industry involving a series of multimillion-dollar subordinated debt offerings and equity infusions, leading to the sale of the senior credit facility to subordinated debt holders.
• Represented a national bank in a senior credit facility to a construction company in a complex debt restructuring of a revolver, letter of credit obligations and swap obligations involving a series of multimillion-dollar subordinated debt offerings and equity infusions, leading to sale of the senior credit facility to subordinated debt holders.
• Represented the lender in the U.C.C. Article 9 foreclosure of a failed borrower in the health care industry.
• Represented a national bank in a senior credit facility to a hybrid bus manufacturer in a complex debt restructuring of a term loan, a revolver and letter of credit obligations involving a series of multimillion-dollar subordinated debt offerings and equity infusions, leading to the sale of the senior credit facility to subordinated debt holders.
• Represented a national bank in connection with a nonprofit school's redemption of bonds issued by North Carolina's Capital Facilities Finance Agency and supported by the bank's letter of credit and the restructuring and ultimately collection of senior secured letter of credit reimbursement obligations.
• Represented an individual in the buyout of a financially troubled business partner in various entities that own a minor league baseball team, a baseball stadium under construction and a mixed-use real estate development surrounding the stadium, and in the restructuring of the real estate acquisition loan and other obligations.

Litigation

• Defended a majority owner of several related title services companies in a lawsuit asserting fraudulent transfer and breach of duty claims.
• Represented a former officer and director of a medical diagnostic testing lab in defending claims by its Chapter 7 trustee for alleged breach of fiduciary duties, for alleged fraudulent transfers and for having authorized allegedly unlawful distributions when the testing lab was allegedly insolvent.
• Represented a trust fiduciary in defending claims by Chapter 7 trustee for alleged post-petition conversion of funds from bankruptcy estate.

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