Shane G. Ramsey

Representative Matters - Bankruptcy and Financial Restructuring

• In re FedNat Holding Company, et al., Case No. 22-19451 (Bankr. S.D. Fla. 2022). Currently represent FedNat Holding Company and its affiliated debtors in Chapter 11 cases involving an insurance holding company with over $200 million in liabilities. 
• In re American Blue Ribbon Holdings, LLC, et al., Case No. 20-10161 (Bankr. D. Del. 2020). Represented American Blue Ribbon Holdings, LLC and its affiliated debtors in Chapter 11 cases involving its restaurant company brands Village Inn, Bakers Square and Legendary Baking. Confirmed the first chapter 11 plan post-COVID-19 pandemic.
• Ritzen Group, Inc. v. Jackson Masonry, LLC, 589 B.R. 601 (M.D. Tn. 2018) (finding that a district court maintains jurisdiction to enter a stay of an appeal even after a notice of appeal to the circuit court has been filed)
• In re Celotex Corp., 380 B.R. 895 (Bankr. M.D. Fla. 2008) (holding that trust could satisfy its obligation, if it believed that property damage claims administrator had abused his discretion in allowing certain asbestos property damage claims for payment from trust, to apply to bankruptcy court for instructions, in the context of adversary proceeding)
• In re Celotex Corp., 380 B.R. 623 (Bankr. M.D. Fla. 2007) (holding that bankruptcy court had jurisdiction to enter injunction to prevent litigants from pursuing recovery under insurance policies)
• Represented the official committee of unsecured creditors in the Chapter 11 cases of global providers of seismic data acquisition, processing, and integrated reservoir geoscience services to the oil and natural gas industry. Obtained a carveout for the benefit of unsecured creditors from pre-petition lenders’ cash collateral. In re Geokinetics Inc., et al., Case No. 18-33410 (Bankr. S.D. Tex)
• In re Life Settlements Return I, LLC. Represented chapter 11 debtors in consolidated chapter 11 cases. Debtors are a life settlements special purpose vehicle and its subsidiary holding company holding life insurance policies with estimated face value worth approximately $20.1 million faced with insolvency based on insureds outliving actuarial projections. In re Life Settlements Absolute Return I, LLC, Case No. 17-13030-MFW (Bankr. D. Del. 2017)
• In re Dart Music, Inc. Represented chapter 11 debtor in successful sale of IP assets under section 363 of the bankruptcy code. Debtor technology start-up was a unique provider of metadata solutions for the music industry faced with financial troubles arising from problems securing funding. In re Dart Music, Inc., Case No. 17-01300 (Bankr. M.D. Tenn. 2017)
• In re Cherokee Pharmacy & Medical Supply, Inc., et. al. Represent a Forbes 200 pharmaceutical whole-sale distributor in consolidated chapter 11 cases of local pharmacies holding a $1.2 million claim. In re Cherokee Pharmacy & Medical Supply, Inc., et. al., Case No. 17-bk-11920 (Bankr. E.D. Tenn. 2017)
• In re CRS Reprocessing, LLC. Represented lender holding $7 million claim in chapter 11 case involving a global leader in the following markets: fluid reprocessing, solar/semiconductor, metals, and oil and gas services. The company operates in the United States, Europe, and Asia. In re CRS Reprocessing, LLC, Case No. 17-32565 (Bankr. W.D. Ky. 2017)
• In re Vanguard Healthcare, LLC. Represented exit financing lender in chapter 11 cases involving a long-term healthcare provider headquartered in Brentwood, Tennessee, providing rehabilitation and skilled nursing services at 14 facilities in four states (Florida, Mississippi, Tennessee and West Virginia). In re Vanguard Healthcare, LLC, Case No. 16-03296 (Bankr. M.D. Tenn. 2016)
• In re American Apparel, Inc. (“American Apparel 2”). Represented successful purchaser of lease assets in chapter 11 case of clothing retailer having $230 million in debt: In re American Apparel, Inc., Case No. 16-12551 (Bankr. D. Del. 2016)
• In re The Celotex Corporation. Represented the Celotex Asbestos Settlement Trust established pursuant to the Chapter 11 plan of reorganization for The Celotex Corporation to satisfy asbestos-related personal injury and property damage claims against The Celotex Corporation. In re Celotex Corp. (Bankr. M.D. Fla. Filed Oct. 1990)
• In re Colt Holding Company, LLC, et al. Represented the official committee of unsecured creditors in the Chapter 11 cases of firearms manufacturer with more than $100 million of secured debt and $250 million of unsecured debt. In re Colt Holding Co., LLC, et al., Case No. 15-11296-LSS (Bankr. D. Del.)
• In re American Apparel, Inc., et al. Represented the official committee of unsecured creditors for clothing retailer and wholesaler employing more than 4,600 workers in and around downtown Los Angeles (and 8,500 employees worldwide). Debtors listed approximately $200 million in assets and $398 million in liabilities as of the petition date. In re American Apparel, Inc., No. 15-12055 (Bankr. D. Del.)
• In re BankUnited Financial Corporation, et al. Represented the official committee of unsecured creditors and subsequently the plan administrator in the BankUnited Financial Corporation, et al. bankruptcy cases involving the holding company for BankUnited, FSB, one of the largest bank failures of 2009, with more than $500 million in unsecured debt. Notably, this is the only bank holding company case where the committee confirmed its own plan. In re BankUnited Financial Corporation, et al., Case No. 09-19940 (Bankr. S.D. Fla.)
• In re Corus Bankshares, Inc. Represented the official committee of unsecured creditors in the Corus Bankshares, Inc. Chapter 11 bankruptcy case involving the holding company for Corus Bank, N.A., a failed bank that had approximately $7 billion in assets. The holding company had more than $400 million in unsecured debt. In re Corus Bankshares, Inc., Case No. 10-26881 (Bankr. N.D. Ill.)
• In re Amelia Island Company. Represented the creditors' committee and later the liquidating trustee for Amelia Island Company. Total liabilities in case exceeded $100 million. In re Amelia Island Company, No. 09-9601 (Bankr. M.D. Fla.).
• In re NetBank, Inc. Represented the official committee of unsecured creditors and later the liquidating supervisor for NetBank, Inc. in connection with the liquidation of this bank holding company. In re NetBank, Inc., Case No. 07-04295 (Bankr. M.D. Fla.)
• In re Hospital Damas, Inc. Represented the creditors' committee in Chapter 11 proceedings pending in the Bankruptcy Court for the District of Puerto Rico. Hospital Damas, Inc. is a nonprofit corporation that operated a general medical and surgical hospital in Ponce, Puerto Rico. In addition to protecting the interests of unsecured creditors during the bankruptcy case, the firm initiated an adversary proceeding against the major secured creditor seeking avoidance of certain of its purported liens on the debtor's property. The secured creditor ultimately consented to a joint debtor/committee plan that provided substantial recoveries for unsecured creditors. In re Hospital Damas, Inc., Case No. 10-08844 (Bankr. D.P.R.).
• In re Sun Coast Hospital, Inc. Represented the creditors' committee and later plan trustee for Sun Coast Hospital in connection with the sale of the hospital facility with more than $30 million in secured and unsecured debt. Litigation commenced against the secured creditor for avoidance of liens incurred in connection with bond financing and a settlement negotiated pursuant to which a substantial portion of such creditor's claim was deemed unsecured, thereby resulting in a substantial distribution to unsecured creditors. In re Sun Coast Hospital, Case No. 07-12926 (Bankr. M.D. Fla.)
• In re Bill Heard Enterprises Inc. et al. Represented the official committee of unsecured creditors of one of the largest sellers of Chevrolet vehicles in the United States. The representation included, among other things, the sale of substantially all of the Debtors' assets; working to a resolution of thousands of claims of former employees alleging violations of the WARN Act; structuring and confirming a liquidating plan that was overwhelmingly approved by the creditor constituency; and prosecuting an action against former officers and directors to determine the proper ownership of trust assets arising from an executive compensation plan. In re Bill Heard Enterprises Inc., No. 08-83029 (Bankr. N.D. Ala. filed Sept. 28, 2008)
• In re Altegrity, Inc., et al. Represented an indenture trustee for approximately $825 million in debt instruments in cases involving prominent global risk and information services company serving commercial customers and government entities. In re Altegrity, Inc., Case No. 15-10226 (LSS) (Bankr. D. Del. filed Feb. 8, 2015)
• In re First Place Financial Corp. Represented an indenture trustee for approximately $62 million in debt instruments in bank holding company bankruptcy case pending in Delaware. The sale ultimately approved in this case employed a modified sale structure that was the result of negotiations between the committee of trust preferred securities, on which the firm's client served, and the debtor. In re First Place Financial Corp., Case No. 12-12961 (BLS) (Bankr. D. Del. filed Oct. 29, 2012)
• In re Capitol Bancorp Ltd., et al. Represented an indenture trustee for in excess of $100 million in debt instruments, which also sat on (and chaired) the official creditors' committee. Case involves a bank holding company, which proposed a Chapter 11 plan of reorganization that sought to exchange trust preferred securities for equity in reorganized debtors. In re Capitol Bancorp Ltd., et al., Case No. 12-58409 (Bankr. E.D. Mich. filed August 9, 2012)
• In re Citadel Broadcasting Corp., et al. Represented an indenture trustee for approximately $148 million in debt instruments in cases involving prominent broadcasting company. Indenture trustee sat on the creditors' committee appointed in the cases and the court confirmed a joint plan of reorganization less than six months after the petition date. In re Citadel Broad. Corp., et al., Case No. 09-17442 (BRL) (Bankr. S.D.N.Y. filed December 20, 2009)
• In re Irwin Financial Corporation. Represented an indenture trustee for approximately $47 million in debt instruments in case involving an insolvent bank holding company for a failed bank. In re Irwin Financial Corporation, Case No. 09- 13852 (Bankr. S.D. Ind. filed September 18, 2009)
• In re Signal International, Inc., et al. Represented 17 Indian human trafficking plaintiffs, including member of creditors' committee, in bankruptcy cases filed by defendant oil rig repair and manufacturing companies. Obtained consents of 17 plaintiffs to pre-petition plan support agreement providing for aggregate payment (to them and other similarly situated trafficking victims) of between $20 million and $22 million. In re Signal Int'l, Inc., et al., No. 15-11498 (MFW) (Bankr. D. Del.)
• In re Washington Mutual, Inc., et al. Represented large noteholder in cases involving the holding company for Washington Mutual Bank, the largest bank failure in United States history (and the largest bank holding company bankruptcy in United States history), with more than $7 billion in unsecured debt. In re Washington Mutual, Inc., et al., Case No. 08-12229 (Bankr. D. Del. filed September 26, 2008)
• In re The Colonial BancGroup, Inc. Represented one of the largest noteholders in bankruptcy of bank holding company. Regularly consulted with committee and post-confirmation trustee on various issues, including tax refund ownership dispute. In re The Colonial BancGroup, Inc., Case No. 09-32303 (Bankr. M.D. Ala. filed August 25, 2009)
• In re Hostess Brands, Inc. Represented the stalking horse and ultimately successful bidder for a majority of the bread business of Hostess Brands, Inc. and its affiliated debtors in $355 million transaction. In re Hostess Brands, Inc., Case No. 12-22052-RDD (Bankr. S.D.N.Y. filed January 11, 2012)
• In re Tribune Company, et al. Represented a defendant in significant action, which relates to bankruptcy case of Tribune Co. and its affiliates, seeking to avoid pre-petition leveraged buyout as a fraudulent transfer. Kirschner v. FitzSimons, et al., Case No. 12-02652 (S.D.N.Y. filed Apr. 5, 2012)

Representative Matters - Business and Complex Litigation

• Represented an EPC contractor in a $1.6 billion federal court litigation relating to the construction of four grassroots nuclear power plant units (the first nuclear construction in the United States in the last 30 years).
• Represented litigation trustee in suit brought in federal district court against the FDIC concerning the disputed ownership of a $45 million tax refund.
• Represented litigation trustee in suit brought in federal district court against directors and officers of bank holding company for breaches of fiduciary duty.
• Represented company in suit brought in federal district court seeking damages relating to violations of federal securities laws.
• Represented company in suit brought in federal court against former president of company for breach of contract, unjust enrichment, fraud, and misappropriation of corporate funds.
• Represented party in action brought in federal court concerning the valuation of a public company. Action involved a week long valuation trial.
• Represented purchaser of real property in action in both state and federal courts seeking specific performance of contract and alleging breach of contract.