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Experience

Trustee for $173 Million in Default for Electrical Systems Corporation Bankruptcy

Major National Bank and Trust Company

Represented a major national bank as trustee for $173 million of outstanding senior subordinated notes in default issued by a U.S. provider of electrical, low-voltage and security systems. Actively participated in bankruptcy proceeding on behalf of the bank and the noteholders for which the bank acts as a fiduciary. Worked with the Creditors' Committee, of which the bank was a member, the Debtor, and the professional advisors of each, as well as other creditor bodies, to efficiently arrive at a confirmable plan of reorganization. This plan of reorganization was confirmed by the United States Bankruptcy Court for the Northern District of Texas within 3 months of the filing of the bankruptcy petition.
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