December 1, 2015
Firm chair James S. Carr and partner Jason R. Adams are referenced as counsel to the unsecured creditors committee in the GT Advanced Technologies Chapter 11 bankruptcy in the Law360 article “GTAT Creditors Fight Exit Financing Plan, Seek Alternative.” The article reports on the unsecured creditors challenge to GTAT’s $80 million exit financing plan, saying a superior plan that would give creditors the option of bringing litigation against the company's leaders has been offered by investment manager, Oaktree Capital.
According to the article, Oaktree's plan would save GTAT $7.3 million in fees and expenses. Oaktree's plan, unlike the one offered by the secured lenders, would give unsecured creditors the ability to retain avoidance actions as well as potential lawsuits against GTAT's directors and officers. GTAT filed for Chapter 11 last year after a falling out with Apple.
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