Overview

James Wallack, a Director, heads the firm’s Bankruptcy and Restructuring Practice, with extensive experience in complex Chapter 11 reorganizations, out-of-court workouts and restructurings and transactions involving underperforming or distressed assets. Recognized in Chambers USA as a "one of the best lawyers in the area – very good at details and developing strategies. A practical lawyer with a great deal of experience and wisdom who is highly respected in court," James represents distressed portfolio companies owned by leading private equity firms, corporate borrowers and debtors-in-possession, secured and unsecured creditors, creditors’ committees, liquidators and developers and investors acquiring assets from debtors in bankruptcy.

Representative Experience

• Lead debtor-in-possession counsel for Victor Oolitic Stone Company, the largest limestone quarry in Indiana, in its chapter 11 bankruptcy case in Indianapolis and its successful 363 sale process and the asset acquisition by an affiliate of Resilience Capital Partners.
• Representation of Betsey Johnson LLC in the out-of-court restructuring of its long term debt and equity.
• Counsel to Gordon Brothers Group and DJM Asset Management in the following distressed asset transactions:  (i) the successful acquisition and wind down of CompUSA, Inc.; (ii) the liquidation of underperforming assets in the Sportsman’s Warehouse chapter 11 case (Delaware); (iii) the acquisition of the right to liquidate inventory of Finlay Fine Jewelry Corporation and subsidiaries (New York), (iv) a provisionally approved bid for liquidation of stores in BI-LO, LLC in its bankruptcy case in the Bankruptcy Court for the District of South Carolina, and (v) the liquidation of all inventory owned by the debtor in The Rugged Bear, Inc. case (Mass.).
• General counsel to CRG Partners in connection with their retentions in numerous turnaround matters around the country, in pursuing a fee enhancement on account of CRG’s extraordinary performance in the Pilgrim’s Pride chapter 11 reorganization in the Bankruptcy Court for the Northern District of Texas, and as a defendant in actions brought by the Antioch Company Litigation Trust in the Southern District of Ohio and by the Trustee for Solar Cosmetics, Inc. in the Southern District of Florida.
• Counsel for Michael Macateer, in his capacity as court-appointed Irish liquidator and foreign representative of Bedminister International Limited, in Chapter 15 bankruptcy proceedings pending in the District of Massachusetts.
• Representation of distressed portfolio companies of a national private equity firm, including the sale of a manufacturing business with international operations, the out-of-court restructuring of a technology company, and the sale of a construction company.
• Special debtor-in-possession counsel for Tweeter Home Entertainment Group, Inc.
• Counsel to GMAC as a creditor in The Education Resources Institute case in the District of Massachusetts.
• Lead bankruptcy counsel for Omni Facility Services, Inc. and thirteen affiliated debtors in the successful disposition of their businesses.
• Representation of Elkin McCallum as principal of and purchaser of assets from Joan Fabrics Corporation and related debtors-in-possession.
• Representation of DJM Asset Management and Sheldon Good Auctions Northeast as lender to and exclusive auctioneer for the Trustee of New Jersey Affordable Housing Corporation.
• Special debtor-in-possession financing counsel for Malden Mills Industries, Inc.
• Representation of the Official Committees of Unsecured Creditors in the Chapter 11 reorganizations of Organogenesis Inc., Thinking Machines Corporation and Martha’s Vineyard Hospital, Inc.
• Representation of W/S Discount Acquisition LLC in successful disposition of all of Caldor Corporation’s leases and owned real estate.
• Representation of the Richard A. Smith family as the largest shareholder in, and purchaser of an investment portfolio from, the operator of General Cinemas Theatres.