Acknowledged by peers as a "force to be reckoned with", Kasowitz Benson Torres & Friedman is particularly respected for its aggressive representation of junior creditors in bankruptcy cases. One competitor describes the firm as "a bomb thrower", due to its ability to make an explosive impact on behalf of its clients....
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Acknowledged by peers as a "force to be reckoned with", Kasowitz Benson Torres & Friedman is particularly respected for its aggressive representation of junior creditors in bankruptcy cases. One competitor describes the firm as "a bomb thrower", due to its ability to make an explosive impact on behalf of its clients.
In an ongoing high-profile case, Kasowitz is representing bookseller Borders Group and seven of its subsidiaries in Chapter 11 proceedings. On the first day of the case, the firm held a successful auction to select a liquidator to conduct store closing sales, which it persuaded the court to begin immediately at a favorable price. For the year 2010, over $2.3 billion in sales have been generated in relation to the case.
In one of the largest bankruptcies in history, Kasowitz was counsel to the official committee of unsecured creditors of Adelphia Communications and its affiliated debtors, and is now counsel to the Adelphia Recovery Trust and the reorganised debtors. Kasowitz was the architect of Adelphia's chapter 11 plan and prosecuted confirmation thereof. The firm also participated in the sale of Adelphia's assets to Time Warner NY Cable and Comcast for over $17 billion.
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