Litigation counsel defending a trucking company in a wrongful death action came to RLT to ask whether a Chapter 11 bankruptcy filing could resolve his client’s potential significant liability resulting from the unfortunate accident, while preserving the ability of this otherwise successful logistics and transportation provider to operate. When efforts to resolve that impending liability, without the need to file a Chapter 11 case proved unsuccessful, RLT worked with the client to ensure the existence of classes of creditors who could vote to accept a plan of reorganization in spite of the controlling vote of the wrongful death plaintiff over the unsecured creditor class. In a period of less than a year, RLT was able to achieve confirmation of a plan of reorganization which embodied the consensual waiver of claims of the wrongful death plaintiff against the trucking company to the extent not covered by insurance. Confirmation allowed this logistics provider to renew its focus on the growth of its business.
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