Bankruptcy and Restructuring

Bankruptcy Litigation

Representative Matters

Litigation and Trials in Bankruptcy Court:

American Home Mortgage:

  • Defeated a claim by Calyon Bank (now Credit Agricole) for $550,000,000 relating to a Mortgage Repurchase Agreement, winning at trial and successfully defending the trial decision before the Third Circuit Court of Appeals on an issue of first impression in the nation 
  • Defeated Bank of America’s motion for relief from the automatic stay, which sought repossession of tens of millions of dollars’ worth of mortgage loans pursuant to a loan agreement with the Debtors

The Catholic Diocese of Wilmington:

  • Represented the Debtors in all aspects of litigation relative to the case, including management of hundreds of pre-petition causes of action, several high profile motions to lift the automatic stay, and creditor actions to determine the nature and extent of assets available to pay creditors


  • Successfully prosecuted a valuation trial on behalf of the Debtors during a contested DIP hearing in which the Debtors were able to prime the prepetition lenders


  • Represented the Future Claimants' Representative in a highly contested estimation hearing on the value of the Debtors' current and future asbestos liabilities, which the Future Claimants’ Representative estimates at approximately $1.1 billion.

Touch America:

  • Successfully defended the Debtors against several high-dollar claims brought by contractors and defeated a motion to appoint a creditors committee

Contested Confirmation/Sale of Assets:

Randa Luggage:

  • Prosecuted and obtained Bankruptcy Court approval of the sale of the Debtor’s business pursuant to section 363 of the Bankruptcy Code over the objection of parties in interest. The Bankruptcy Court noted that Young Conaway’s advice regarding the corporate and litigation issues were a lesson in how to handle such issues.

Lang Holdings:

  • Prosecuted and obtained Bankruptcy Court approval at trial of the sale of the Debtor’s business pursuant to section 363 of the Bankruptcy Code, over the objection of the Official Committee of Unsecured Creditors

Federal Mogul:

  • Represented the Future Claimants' Representative in a contested confirmation hearing over the objection of various insurance companies

HSH Delaware GP LLC:

  • Co-represented a syndicate of lenders in the In re HSH Delaware GP LLC chapter 11 case and lead a team of litigators that leveraged a half-billion dollar restructuring of special purpose investment entities advised by billionaire investor J. Christopher Flowers. The litigation in the HSH Delaware case involved threatened or pending litigation proceedings in Delaware, New York, London and the Cayman Islands.

Special Committee Representations/Investigations:

Boston Gen:

  • Represented Special Committee of board, which had broad authority regarding the sale and restructuring process, including responsibility to (1) review and evaluate a possible 363 sale, other strategic alternative and value of assets and cause of action, (2) discuss and negotiate possible restructuring alternatives with any party the Special Committee deemed appropriate, (3) approve a possible restructuring alternative, if appropriate, (4) review and evaluate merits of potential causes of action, and (4) assist with any other matter which could present an actual or potential conflict between the interests of EBG and its parent


  • Young Conaway represented David Hershberg, the independent manager of Dynegy Holdings, LLC, in the company's chapter 11 filing. With the assistance of Young Conaway, Mr. Hershberg analyzed complex litigation issues between the parent company and its creditor constituencies, and ultimately played a pivotal role in reaching a global deal. The deal was successfully implemented through a consensual plan that distributed over $2 billion in value to parties in the case. 

Sand Spring:

  • Young Conaway currently represents the Debtors, through their independent fiduciaries, manager and board members, in connection with litigation involving multi-million dollar indemnity claims asserted by a large financial institution and declaratory relief regarding whether certain claims asserted by non-bankruptcy plaintiffs are direct or derivative. 

Global Vision:

  • Represented Chapter 11 Trustee in adversary proceedings against former officers, directors and shareholders in a closely-held corporation asserting claims including fraud, fraudulent conveyance, corporate waste and breaches of the duty of care and loyalty owed to the debtor. This litigation ultimately helped facilitate the successful confirmation of a liquidating plan and the creation of a fund for the benefit of creditors.