Bankruptcy counsel to a business which owned and operated a Canadian Hockey League (CHL) team, the Otters, throughout the chapter 11 process and was able to maximize the value of its assets for all stakeholders.
MacDonald Illig was bankruptcy counsel to a business which owned and operated a Canadian Hockey League (CHL) team.
As a result of pressure from a significantly oversecured creditor, the business filed a chapter 11 bankruptcy case in the Western District of Pennsylvania. Through that bankruptcy process, and with the assistance of MacDonald Illig, the business was able to market and sell its assets, including the operating hockey team, to an independent third party.
Since the sale, the team has flourished under its new ownership.
The sale of the business assets resulted in a one hundred percent distribution to creditors, and a substantial return to the equity owner, none of which would have been possible outside of a bankruptcy case MacDonald Illig was able to guide the business through the chapter 11 bankruptcy process and maximize the value of its assets for all stakeholders.