LRC served as primary counsel to Shelbourne North Water Street, L.P. (“Shelbourne”) in an involuntary chapter 11 case brought against it in the United States Bankruptcy Court for the District of Delaware by certain creditors, including Related MidWest. Shelbourne was formed to develop and construct what was planned to be the tallest building in the Western Hemisphere and the tallest residential structure in the world — a 2,000 foot condominium tower known as the Chicago Spire, designed by world-renowned architect Santiago Calatrava. LRC advised Shelbourne in connection with the involuntary bankruptcy case, its disputes with Related MidWest, and potential settlement and litigation options in Delaware and Illinois. LRC ultimately negotiated an agreement whereby the involuntary case would be converted to a voluntary Chapter 11 case and transferred to the Bankruptcy Court for the Northern District of Illinois, and Shelbourne would have additional time to satisfy the obligations alleged to be owing to Related MidWest.
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