Here's a sample of the cases where Mr. Turman protected the rights of debtors and creditors:
- In re Arthur Machinery, Inc., (U.S. Bankruptcy Court Northern District Illinois). Turman represented a large, publicly traded Japanese manufacturer of high-precision CNC machinery in connection with a Chapter 11 proceeding commenced by its largest US distributor. In addition to protecting his client's interests in the main Chapter 11 case, Mr. Turman also defended his client in an adversary proceeding wherein the Debtor sought to avoid more than $800,000 in pre-petition payments received from the Debtor that were later alleged to be preferential payments and fraudulent transfers. Mr. Turman asserted various counterclaims against the Debtor and its principals, including fraud claims. Ultimately, the parties reached a settlement that was favorable to Mr. Turman's client. In addition to the forgoing, Mr. Turman filed a claim with his client's insurance carrier and ultimately negotiated an agreement for the carrier to pay 80% of his client's legal fees in connection with the adversary proceeding.
- In re The Innovative Companies, LLC et al., (U.S. Bankruptcy Court, Eastern District of New York). Turman was part of a team of professionals that successfully represented an enterprise with seven (7) debtors that was the largest supplier of natural stone products to Home Depot an Home Expo, with net assets in excess of $200 Million. Mr. Turman and his team successfully navigated the Debtors through the Chapter 11 proceedings. Although the case was hotly contested, the Court approved the sale of substantially all of the Debtors' assets over the objections of secured creditors. With Mr. Turman's advice and guidance, a plan of orderly liquidation was confirmed. Mr. Turman also represented the debtors in numerous adversary proceedings, including avoidance actions, breach of contract cases and numerous real estate disputes.
- In re Laurel Hill Paper Co., Inc. (U.S. Bankruptcy Court, Middle District of North Carolina). Mr. Turman represented an institutional lender with a claim secured by a first priority lien in equipment collateral appraised by the lender to be worth approximately $2.4 Million. To protect his client's claims, Mr. Turman was able to locate the lender's assets and engaged in motion practice that helped the lender gain a favorable bargaining position. Mr. Turman subsequently helped form and then lead an ad hoc committee of secured lenders in a proceeding to determine the extent, validity, priority and value of various secured creditor's liens in the proceeds generated from the bulk sale of the Debtor's assets. Ultimately, Mr. Turman settled the case during mediation, with the Debtor agreeing to pay the Mr. Turman's client $2,200,000.00, representing a ninety-three (93%) percent recovery.
- In re W.C. Properties, Inc. (U.S. Bankruptcy Court, Northern District of New York). Mr. Turman represented a secured lender who held mortgages and blanket liens against substantially all of the Debtor's assets, including its Burger King franchises. During the course of the Debtor's Chapter 11 proceeding, Mr. Turman negotiated an agreement between and among his client, the debtors, the Creditor's Committee and Burger King that resulted in the sale of substantially all of the Debtor's assets in three separate transactions. The client's secured claims were paid in full from the proceeds of these sales.
- In re Curative Health Services, Inc. et al., (U.S. Bankruptcy Court, Southern District of New York). Turman worked with a team of professions representing a debtor-in-possession in a successful pre-packaged Chapter 11 filing, which included a $50 Million debtor-in-possession credit facility.
- In re Millennium Assisted Living Residence at Freehold, (U.S. Bankruptcy Court, District of New Jersey). Turman represented a senior secured lender holding a $25 Million claim against the Debtor, secured by a first priority blanket lien in the Debtor's assisted living facility. Mr. Turman negotiating terms for a stipulation allowing the Debtor to continue use of the cash collateral during its Chapter 11 proceeding, subject to the payment of adequate protection in amount acceptable to his client. Mr. Turman engaged in motion practice that ultimately forced the Debtor to sell substantially all of its assets, including all real and personal property, to a new operator, which resulted in full repayment of his client's claims.
- In re Phylos, Inc., (U.S. Bankruptcy Court, District of Delaware). Turman represented a secured lender with a lien against certain intellectual property and other non-tangible assets in a Chapter 11 proceeding. Mr. Turman successfully moved for adequate protection and later negotiated terms for the liquidation of substantially all of the Debtor's assets, resulting in full satisfaction of his client's claim.
