Diane Davis Washington Reporter/Editor Jay Horowitz Washington Managing Editor
By Diane Davis
The bankruptcy lawyer for the company co-founded by disgraced Hollywood mogul Harvey Weinstein is deeply experienced and leads a Delaware practice that has been called the “cream of the crop” in a law firm ranking.
Mark D. Collins, who chairs the bankruptcy and corporate restructuring practice at Richards, Layton & Finger, P.A., one of the state’s oldest law firms, has served as lead counsel for other major corporate bankruptcies.
His case roster includes Linens n’ Things, Corinthian Colleges, Paragon Offshore plc, Reliant Energy Channelview, Suntech America, Zany Brainy, Urban Brands, TerraVia Holdings, Inc., ResMAE Mortgage Co., and Teleglobe Communications Corp.
Paul N. Heath, a director in the firm’s bankruptcy and restructuring department who has served as lead counsel in several large Chapter 11 cases, and Brett M. Haywood, an associate in the firm’s bankruptcy and restructuring department, are also involved in the Weinstein Co. case.
Companies nationally “tap Richards Layton to serve as their co-counsel in many of the largest and most complex bankruptcy cases” filed in Delaware, according to Chambers USA ratings. The Chambers USA awards are based on research ranking the best lawyers since 1990 and now cover 185 jurisdictions.
Weinstein Co. sought Chapter 11 protection from creditors on March 19 after failing to secure funding from investors and losing significant business due to the fallout over sexual misconduct allegations against Harvey Weinstein.
The scandal rocked Hollywood and touched off a stream of allegations against others in entertainment, media, politics, business and the judiciary, spawning the #MeToo movement.
The company plans to sell itself to an affiliate of Dallas-based Lantern Capital Partners.
Traditional “first day” motions in the case to continue the Weinstein Co.'s operations, maintain the confidence and support of key employees, and establish procedures to facilitate the sale were held March 20. The court has approved up to $25 million in short-term financing.
A hearing has been set for April 6 to approve bidding procedures for the sale of the company’s assets.
Separately, Weinstein Co. has retained FTI Consulting, Inc. as a financial adviser and Robert Del Genio is serving as chief restructuring officer.
The case is In re The Weinstein Co. Holdings LLC , Bankr. D. Del., 18-10601, filed 3/19/18 .
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