Lowenstein Sandler Plays Key Role in Four of 20 Largest Bankruptcy Filings of 2011

NEW YORK, May 26, 2011 /PRNewswire/ -- Lowenstein Sandler represented major stakeholders in four of the 20 largest bankruptcy filings so far in 2011, according to Bankruptcy Week, a publication that compiles data on publicly traded companies. The debtors' revenue totaled nearly $3.3 billion, according to pre-bankruptcy petition filings.

Lowenstein's representations include:

• Unsecured creditors committee of Borders Group, Inc., ranked #1, at $2.79 billion in revenue and $1.42 billion in assets.  The committee includes Penguin Group, Random House, Perseus Books Group, Sony, General Growth Properties, and Simon Properties.
• Unsecured creditors committee of Harry & David Holdings, Inc., a specialty retailer, ranked #3, at $426.8 million in revenue and $243.2 million in assets.
• Unsecured creditors committee of Ambassadors International, a travel and cruise provider, ranked #10, at $61.3 million in revenue and $92 million in assets.
• Lenders/purchasers of Raser Technologies, a renewable energy company, ranked #20, at $4.3 million in revenue and $41.4 million in assets.

"The unsecured creditors committees and lenders/purchasers of some of the most recognizable names in their respective industries are choosing Lowenstein Sandler, showing the level of trust these leading businesses place in our skills and our client service," said Kenneth E. Rosen, Chairman of Lowenstein Sandler's Bankruptcy, Financial Reorganization & Creditors' Rights Group.

About Lowenstein Sandler's Bankruptcy, Financial Reorganization & Creditors' Rights Group

Lowenstein Sandler represents debtors and creditors' committees in Chapter 11 proceedings nationwide, and diverse financial institutions managing troubled credit. Our attorneys prosecute and defend all types of litigation related to bankruptcy proceedings. Bankruptcy Insider ranked the firm second nationwide for representing committees of unsecured creditors, and The Deal ranked Lowenstein Sandler among the country's most active bankruptcy practices. 

About Lowenstein Sandler

Lowenstein Sandler PC is a nationally recognized corporate law firm with offices in New York, Palo Alto and Roseland, with approximately 270 attorneys providing a full range of legal services. The firm's commitment to its clients is demonstrated through its client-centered, service-oriented culture. Lowenstein Sandler attorneys are regularly recognized for excellence by clients and peers in national publications, including The Best Lawyers in America, Chambers USA: America's Leading Lawyers for Business and The Legal 500.

SOURCE Lowenstein Sandler