Landis Rath & Cobb LLP is a premier boutique law firm concentrating on commercial bankruptcy, corporate restructuring and business litigation. We provide sophisticated legal advice and services to national, international and local clients in and out of federal and state courts. Our proven record of success is backed by a commitment to advocate for our clients' interests with personalized service and expert counsel.

Representative Matters

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In re: Cred Inc., et al., Case No. 20-12836 (JTD)

LRC was retained as counsel for UpgradeYa Investments, LLC (“UpgradeYa”) for the chapter 11 bankruptcy cases (the “Chapter 11 Cases”) of Cred Inc. and its affiliates (collectively, “Cred”).  Prior to the bankruptcy filing, Cred operated a global financial services platform serving retail and institutional clients in 183 countries.  Prior to the initiation of the Chapter 11 Cases, UpgradeYa was a customer of Cred and had pledged approximately 531 Bitcoin as collateral to secure a loan from Cred.  LRC advised UpgradeYa in all aspects of the Chapter 11 Cases, including with respect to, among other things, the potential return of UpgradeYa’s collateral and conversion of the Chapter 11 Cases to cases under Chapter 7. LRC also prepared, filed and prosecuted a motion for relief from the automatic stay (the “RFS Motion”) to allow UpgradeYa to pursue the return of its collateral or the value thereof from various third-party litigation targets.  In connection with the RFS Motion, LRC engaged in formal discovery and a contested trial on the issues.  Ultimately, the Court found that the automatic stay was inapplicable and UpgradeYa was free to pursue its direct claims against non-debtor third parties (the “Third Party Litigation”).   LRC also represented UpgradeYa in connection with various challenges to UpgradeYa’s pursuit of the Third Party Litigation.  In addition, LRC advised UpgradeYa with respect to Cred’s plan of liquidation (the “Plan”) and negotiated the consensual resolution of various issues thereto with counsel to Cred and the Official Committee of Unsecured Creditors.  In addition, LRC negotiated the settlement (the “Settlement”) of all disputed issues and potential claims by and between Cred and UpgradeYa, including, among others, UpgradeYa’s setoff rights and claims against Cred, its ability to prosecute the Third Party Litigation and various issues related thereto with the post-effective date litigation trust (the “Trust”), who is the successor in interest to the Committee.  The Settlement was approved by the United States Bankruptcy Court for the District of Delaware on August 2, 2021.

Attorneys
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Adam G. Landis Kimberly A. Brown Matthew R. Pierce Nicolas E. Jenner
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