Jones Day has an internationally-renowned practice in restructuring and insolvency. "Jones Day has a very good group," says one rival....
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Jones Day has an internationally-renowned practice in restructuring and insolvency. "Jones Day has a very good group," says one rival. Partner David "Dave" Heiman, who founded the practice in 1984, is singled out for praise. "He's very smart and very good with clients and the other side," says one competitor.
Jones Day recently counselled the official committee of equity security holders in the MES International bankruptcy in Delaware. With the firm's assistance, equity holders were able to improve their recovery from the 20% of the reorganised company initially proposed. The $370 million deal closed in July 2010.
In an ongoing case with liabilities of over $1 billion asserted against the debtors, the firm is representing the official creditors' committee of Qimonda North America and Qimonda Richmond in Qimonda's chapter 11 proceedings. The companies were part of a multi-billion dollar memory chip company that designed, developed, manufactured and marketed memory products.
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