June 10, 2010
Kelley Drye has been retained to represent the Official Committee of Unsecured Creditors of Magic Brands, LLC, and certain of its affiliates.
On April 21, 2010, Magic Brands filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. At the first meeting of creditors on May 3, 2010, the five-member Committee selected Kelley Drye as its bankruptcy counsel, led by James S. Carr and Eric R. Wilson.
Headquartered in Austin, Texas, the Debtors own, operate and franchise fast casual dining establishments under the Fuddruckers™ and Koo Koo Roo™ names. The first Fuddruckers™ restaurant – purveyors of the “World’s Greatest Hamburger™” – opened in San Antonio, Texas in 1980, and grew into a national chain with a presence in 32 states, Puerto Rico, the District of Columbia, and Canada. Koo Koo Roo™, which focuses on healthful and flavorful chicken dishes, was acquired by the Magic Brands entities in 2003, and operates exclusively in Southern California.
The Debtors have premised their restructuring on the sale of substantially all of their assets to Tavistock Ventures, Inc., a private equity fund based in Windermere, Florida, subject to higher and better offers at public auction. The Kelley Drye team will be working with the Committee, the Debtors and potential bidders to ensure a maximum return to unsecured creditors.
The Kelley Drye professionals handling the Magic Brands case include partners James S. Carr and Eric R. Wilson, associates Dana P. Kane, Jason R. Adams, Gilbert R. Saydah and Jennifer D. Raviele, and paralegal Marie Vicinanza.