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Gaming / Hospitality

AMI Operating Partners (hotels)

  • 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 


Bally's Grand (LV casino)

  • 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

Holly's (hotels)

  • 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



United Inns (hotels)

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

VMS (hotels)

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

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Barmack (restaurant supply)

  • Managed the workout of this credit in 1994


  • Barmack was a minority owned supplier of tray liners to the fast food industry
  • Operator of Stuart Anderson’s Black Angus Cattle Company Steakhouses


  • Served on the board of directors during the Chapter 11, (2005-2006)
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