Winstar Communications
Young Conaway served as co-counsel to Winstar Communications, Inc. and its affiliates in one of the largest telecommunications bankruptcies filed in Delaware, with approximately $4 billion in debt. Although operational performance continued to deteriorate post-bankruptcy, Winstar's professionals assisted the company in obtaining court approval for the sale of substantially all of its assets to IDT Corporation, along with unique procedures for the interim management of the company by IDT, pending FCC approval for the transaction.