October 9, 2007
Partner Eric Wilson was quoted in The Distressed Debt Report in an article titled "American Tower Settles Fraud Suit with Bankrupt Subsidiary's Creditors."
The article discussed American Tower's agreement to pay $32 million to the bankruptcy estate of its Verestar subsidiary to settle fraud charges against American Tower by Verestar creditors.
Mr. Wilson, counsel for the unsecured creditor's committee, commented that the creditor's committee expects to make approximately $35 million on their $175 million owed from Verestar's estate,
with the majority of the money expected to come from the American Tower settlement.