NEW YORK--(BUSINESS WIRE)--GlassRatner Advisory & Capital Group LLC recently announced that the bankruptcy court in the District of Delaware approved the Modified Joint Plan of Liquidation of Coldwater Creek Inc. and its debtor affiliates (Case No. 14-10867) pursuant to chapter 11 of the bankruptcy code. GlassRatner was formally retained as Financial Advisor to the Committee of Unsecured Creditors on April 24, 2013. GlassRatner immediately commenced an extensive investigation into the conduct, assets, liabilities, operations and financial condition of the Debtor. After substantial negotiations, a Global Settlement Agreement (“GSA”) was approved by the Bankruptcy Court on July 18, 2014.
The GSA included the settlement of term loan claims; challenge period and discovery, Committee support for the Plan, the topping fee negotiations as well as assorted releases and adjustments of payments due to the debtor’s advisors. The GSA was the result of arms’ length negotiations and involved substantial concessions from all parties. The Debtors and the Committee believe that the GSA resulted in a substantial benefit to the Debtor’s estate.
Shearman & Sterling LLP served as counsel for the Debtor and Lowenstein Sandler LLP served as counsel to the Debtor’s unsecured creditors committee.
About GlassRatner:
GlassRatner Advisory & Capital Group LLC is a national specialty financial advisory services firm providing solutions to complex business problems and board level agenda items. The firm applies a unique mix of skill sets and experience to address matters of the utmost importance to an enterprise such as managing through a business crisis or bankruptcy, planning and executing a major acquisition or divestiture, pursuing a fraud investigation or corporate litigation, and other top level non-typical business challenges. The combination of proven operating and financial expertise, a hands-on approach and an absolute focus on assignment execution makes GlassRatner a unique and valuable ally for its clients and partners.
