LRC served as bankruptcy counsel to Kinderhook Industries, LLC and Kinderhook Capital Fund II, LP (“Kinderhook”), assisting Freshfields Bruckhaus Deringer LLP as litigation counsel, in the chapter 11 bankruptcy cases (the “Bankruptcy Cases”) of Blitz USA Inc. and its affiliates (“Blitz”) in the United States Bankruptcy Court for the District of Delaware. Kinderhook was the majority equity owner of Blitz, which was the nation’s leading manufacturer of portable fuel containers for consumer use, accounting for approximately 70% of the market share in the United States in the portable fuel containment and storage industry. Beginning in 2008, Blitz and Kinderhook (among others) were besieged by lawsuits from personal injury claimants who claimed that Kinderhook was liable for Blitz’s alleged torts based upon Kinderhook’s ownership of and/or alleged control over Blitz.
LRC advised Kinderhook on all aspects of the Bankruptcy Cases and successfully defended Kinderhook with respect to various requests for relief brought by the Official Committee of Unsecured Creditors (the “Committee”) controlled by personal injury claimants. LRC also advised Kinderhook in mediation sessions and with respect to various settlement negotiations, including the formulation of a plan of reorganization. As a result of these negotiations, the parties reached a global settlement that provided the basis for the confirmation of a consensual plan of reorganization for Blitz. Among other things, the settlement provided a full release of any claims by Blitz or the personal injury claimants against Kinderhook, with no direct cash contribution required by Kinderhook.
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