Managed the workout of this mid-Atlantic operator of 16 Holiday Inn flagged properties, including the Inner Harbor property in Baltimore that overlooks Camden Yards 

Managed JNL’s $6.5 million of Bally’s Grand Subordinated Notes

Later purchased an additional $1 million face amount @ < .05/$

Organized an informal committee of bondholders, filed an involuntary bankruptcy petition against the issuer and became Chairman of the official creditors committee

Successfully negotiated with the other creditor classes and the debtor to improve the recovery for the Subordinated Noteholders’ to 37.6% of the face value of the notes based on the sale of the reorganized securities on September 21, 1993

Managed the workout of this Michigan based operator of 8 Holiday Inn flagged properties through the 1991 bankruptcy proceeding 

Organized a group of 15 institutional investors to bring a securities fraud action against Marriott following the issuance of investment grade debt in April of 1992 and the subsequent announcement of a spinoff for the benefit of the shareholders in June of 1992

Co-author of “Marriott Risk: A New Model Covenant to Restrict Transfers of Wealth From Bondholders to Stockholders” Volume 1994, Number 3 of the Columbia Business Law Review

Managed the workout of the position in the operator of these Holiday Inn flagged hotels

Managed the workout of the nationwide operator of Holiday Inn flagged hotels