Representation of Fund Management Company in Chapter 11 Case

Represented affiliates of Canyon Capital as holder of senior secured debt and a majority of unsecured note debt in the Hooters Casino and Hotel chapter 11 case. Overcame effort by the company’s insiders to reorganize the company for their benefit, and instead achieved a sale process at which Canyon became the successful bidder and acquired the property. Defeated attempt by insiders, under a newly-enacted Nevada statute, to reduce the amount of the client’s claims to the amount paid for those claims in the secondary market (substantially less than par), thus creating favorable new law for distressed debt investors in Nevada.