LRC served as co-counsel to Pernix Sleep, Inc. and its affiliates (collectively, “Pernix”) during the course of their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the “Chapter 11 Cases”). Following confirmation of a joint plan of liquidation (the “Plan”), which was fully consensual and was confirmed by the Bankruptcy Court on June 20, 2019 and went effective on June 24, 2019, four months after the chapter 11 proceedings began. In addition to serving as co-counsel to Pernix, LRC was retained as counsel to represent the Plan Administrator to advise her regarding implementing an orderly wind-down of Pernix’s estates. In that capacity, LRC negotiated with various parties in interest and prosecuted multiple claims objections to ultimately resolve more than $4.7 million in secured, priority and administrative claims asserted against Pernix’s estates. LRC was sole counsel to the Plan Administrator and assisted in the winddown of the estate and implementation of the plan.
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