Margaret R. Westbrook

Represented ATech (Parent) Resolution Corp. (f/k/a Akoustis Technologies, Inc. (NASDAQ: AKTS), an integrated device manufacturer of high-band RF filters for mobile and other wireless applications) in an asset sale under Section 363 of the US Bankruptcy Code to Tune Holdings Corp., a subsidiary of SpaceX Exploration Technologies, a California-headquartered designer, manufacturer, and operator of advanced rockets and spacecrafts, for US$30.2 million.

Represented various entities in connection with a complex multiparty internal restructuring, JV investment by an experienced operator and investor, and modification of senior debt held by real estate investment trust with respect to a hotel in Raleigh, North Carolina.

Represented an investment holding company as a secured creditor with debt of approximately US$250 million secured by entertainment technology assets subject to a small first lien. Advised the client with respect to a joint venture formed by the secured creditors to repossess the collateral upon default. Represented the client in litigation brought by the borrowers in Delaware Chancery Court and a Chapter 11 filing before the US Bankruptcy Court for the Eastern District of Pennsylvania. Enforced senior security interests and litigated fiduciary duty and IP claims. Obtained the appointment of a Chapter 11 trustee and negotiated a settlement with same to allow a 363 purchase of the debtors’ assets by the joint venture.

Represented a privately held national (US) family entertainment company operating approximately 18 locations across the United States in the out-of-court restructuring of an approximately US$270 million obligation to a private equity fund.

Served as restructuring counsel to a leader in cleaning and degreasing, lubricating and penetrating, and maintenance and repair solutions. The client is a legacy company that formerly manufactured a variety of products typically used in automotive maintenance, with several major brands. The company had a significant amount of mass tort liability for alleged injuries related to its products from the past, including allegations related to benzene, which resulted in financial difficulties. The client engaged in a long-term litigation with its insurers over coverage and received an adverse ruling from the North Carolina Supreme Court in December 2022. Our firm placed the company into a North Carolina receivership in June 2023.

Represented an individual in his role as court-appointed special master and receiver for a holding company with more than 800 subsidiaries globally, operating in the healthcare, pharmaceutical, financial services, technology, food and beverage, software, cyber security, human resources, and communications industries with thousands of employees. Our client was appointed to protect and preserve assets for the benefit of creditors owed in excess of US$1 billion.

Advised a global technology and consumer goods manufacturing company in its purchase of a US patent portfolio and shared services agreement via a distressed acquisition and private foreclosure under Article 9 of the UCC. Heavily negotiated, drafted, and closed an extremely complicated sale transaction.

Represented a telecom network provider in the Chapter 11 bankruptcy case of a telecommunications contractor. Our client was owed significant outstanding debt by the debtor on the petition date; obtained critical vendor status for the client along with a waiver of all causes of action under Section 547 of the Bankruptcy Code.

Represented a professional services firm in connection with receivership of an international furniture company. Negotiated the sale of a business unit as a going concern. Liquidated inventory and equipment in the United States and Asia. Assisted with the collection of receivables and pursuit of insurance claims. Settled tax disputes. Resolved employment issues.

Served as lead counsel for a not-for-profit integrated healthcare system in its acquisition of a hospital in a Section 363 sale in its Chapter 11 case before the US Bankruptcy Court for the Middle District of North Carolina. Handled all aspects of bidding, closing of transaction, and post-sale bankruptcy issues, including assumption or rejection of more than 700 executory contracts, and actions to enforce the sale order.