LRC served as bankruptcy counsel to SuperValu, Inc. (“Supervalu”) in Marsh Supermarkets Holding, LLC’s and its affiliated debtors’ (collectively, the “Debtors”) Chapter 11 bankruptcy cases. The Debtors owned and operated approximately seventy (70) supermarkets across Indiana and Ohio. SuperValu was the primary supplier of grocery related goods and services to the Debtors. LRC advised Supervalu on all matters related to the Debtors’ bankruptcy cases including, credit extensions, the Debtors’ sale transactions, potential recoveries on Supervalu’s pre- and post-petition claims, settlement of claims between the Debtors and SuperValu, and the Debtors’ plan of liquidation. Prior to and during the bankruptcy cases, the Debtors asserted claims against SuperValu of approximately $3.5 million and SuperValu asserted significant damage claims related to the rejection of its supply agreement. LRC negotiated a favorable settlement for SuperValu which included a $30 million allowed general unsecured claim and a release of all claims held by the Debtors (the “Settlement”). The Settlement was approved by the Bankruptcy Court on April 19, 2018.
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