JASON R. ADAMS
Partner
(212) 808-5056 (212) 808-5056
JASON R. ADAMS Partner

Jason Adams is experienced in all aspects of chapter 11 cases.  His practice focuses on creditors’ rights, debt restructuring, distressed M&A and bankruptcy litigation.  Jason has substantial experience in the retail, restaurant, technology, financial services and energy industries.  He consistently strives to bring practical and streamlined solutions to his clients’ challenges in both an efficient and cost-effective way. 

Jason frequently represents unsecured creditors’ committees, individual creditors, indenture trustees and liquidating trusts in all aspects of the bankruptcy process, including the negotiation of debtor-in-possession financing and distressed asset sales.  Jason also advises individual creditors in bankruptcy in connection with the enforcement, termination or restructuring of client supply agreements, leases and other contractual relationships with debtor entities.  He delivers extensive skill and first-hand experience in the negotiation and drafting of credit and acquisition agreements, and has negotiated and documented numerous lending arrangements and asset sales, both in and out of the bankruptcy context.

Appreciated for his ability to handle highly charged disputes, Jason is valued for identifying the optimal strategy to maximize his clients’ chances for financial recovery.  He is tenacious in the pursuit of his clients’ goals, responsive to their needs and personally dedicated to delivering consistently high-quality work product.  Jason offers his clients a distinctive mix of insolvency expertise, litigation experience and business know-how.  His background in both commercial litigation and support transactions enhance his multidimensional ability to problem-solve throughout the bankruptcy and restructuring process.

In his second decade of practice, Jason was named a “Rising Star” in 2015 by Law360 in the area of bankruptcy law, one of the few attorneys in his field to earn this distinction.

Official Committees of Unsecured Creditors

In re GT Advanced Technologies Inc.  
Counsel to the official committee of unsecured creditors in reorganization of a solar industry manufacturer and sapphire furnace producer.  This matter was one of the 10 largest bankruptcies filed in 2014, with assets and liabilities listed at over $1 billion.

In re Garden Fresh Restaurants (Sweet Tomatoes and Souplantation)
Counsel to the official committee of unsecured creditors in 363 sale of fast-casual restaurant chains with over 120 locations nationwide.

In re Limited Stores Co.
Counsel to the official committee of unsecured creditors in 363 sale of the intellectual property of women’s clothing retailer with over 250 locations nationwide.

In re Logan’s Roadhouse
Counsel to the official committee of unsecured creditors in reorganization of a steakhouse chain with over 250 locations nationwide.

In re Scout Media, Inc.
Counsel to the official committee of unsecured creditors of online sports media company and owner of Scout.com.

In re USA Discounters Ltd.
Counsel to the official committee of unsecured creditors in liquidation of national retail jewelry chain.

Additional committee representations include OCZ Technology Group, Women’s Apparel Group, Real Mex Restaurants, Acapulco, Chevy’s, El Torito, Magic Brands (aka Fuddruckers), Jennifer Convertibles, C2 Media, Bachrach Acquisition and U.S. Shipping Partners.

Debtor Representation

In re China Fishery Group
Special litigation to chapter 15 Peruvian entities in multinational cross-border bankruptcy.

In re Barzel Industries Inc., et al.
Representation of a steel processing company in a U.S./Canadian cross-border bankruptcy.  Negotiated the $30 million DIP financing facility and a $75 million sale of substantially all of the debtors’ assets.

In re Broadway Trading, LLC, et al.
Representation of a securities brokerage company in its chapter 11 bankruptcy.  The bankruptcy was the first-ever successful bankruptcy filing of an introducing broker-dealer, withstanding challenges to the debtors’ chapter 11 eligibility.  Once such challenges were defeated, we successfully negotiated the financing and sale of the debtors’ assets.

Indenture Trustee Representation

In re Caesars Entertainment Operating Co., Inc., et al.
Counsel to the successor indenture trustee for second lien noteholders in pre-bankruptcy planning and preparation for litigation with debtors over prepetition transfers.

In re Residential Capital LLC, et al.
Representation of the indenture trustee for junior secured noteholders in the negotiation of the use of cash collateral and multibillion-dollar litigation that involved disputes regarding claims in excess of $2.1 billion in the largest bankruptcy filing of 2012.

Lending and Sale Representation

In re CCS Medical, Inc.
Representation of the acquirer of a debtors’ blood glucose monitoring business.

In re Bulk Petroleum Corporation, et al.
Representation of a top ten Fortune Global 500 company in the acquisition of ten debtor-owned and -leased service stations in exchange for the release of prepetition claims and litigation.

FS Jackson Hole Development Company
Representation of the lender in the closing of a $30 million secured construction financing.

Archibald Candy Corporation
Representation of the lender in the syndicated debtor-in-possession financing and a $65 million exit financing.

PremiumWear, Inc.
Representation of the acquirer of a men’s shirt company in a $14 million non-bankruptcy stock purchase.

Other Matters

In re GOE Lima, LLC
Representation of a top ten Fortune Global 500 company in a successful trial and in the subsequent win on appeal of the debtor’s attempt to assume and assign an energy offtake agreement.

In re RWJ Management Co, Inc., et al.
Representation of a top ten Fortune Global 500 company in the successful challenge of the debtors’ attempts to sell properties free and clear of restrictive land-use covenants.

In re Cybersight LLC
Representation of the creditor in successfully opposing the challenge of a chapter 7 trustee to subordinate creditor claims, including oral arguments and a briefing before the U.S. Bankruptcy Court for the District of Delaware, and appeals to the U.S. District Court for the District of Delaware and the Third Circuit Court of Appeals.

Selected as Law360 – Bankruptcy Rising Star, 2015

About

Jason Adams is experienced in all aspects of chapter 11 cases.  His practice focuses on creditors’ rights, debt restructuring, distressed M&A and bankruptcy litigation.  Jason has substantial experience in the retail, restaurant, technology, financial services and energy industries.  He consistently strives to bring practical and streamlined solutions to his clients’ challenges in both an efficient and cost-effective way. 

Jason frequently represents unsecured creditors’ committees, individual creditors, indenture trustees and liquidating trusts in all aspects of the bankruptcy process, including the negotiation of debtor-in-possession financing and distressed asset sales.  Jason also advises individual creditors in bankruptcy in connection with the enforcement, termination or restructuring of client supply agreements, leases and other contractual relationships with debtor entities.  He delivers extensive skill and first-hand experience in the negotiation and drafting of credit and acquisition agreements, and has negotiated and documented numerous lending arrangements and asset sales, both in and out of the bankruptcy context.

Appreciated for his ability to handle highly charged disputes, Jason is valued for identifying the optimal strategy to maximize his clients’ chances for financial recovery.  He is tenacious in the pursuit of his clients’ goals, responsive to their needs and personally dedicated to delivering consistently high-quality work product.  Jason offers his clients a distinctive mix of insolvency expertise, litigation experience and business know-how.  His background in both commercial litigation and support transactions enhance his multidimensional ability to problem-solve throughout the bankruptcy and restructuring process.

In his second decade of practice, Jason was named a “Rising Star” in 2015 by Law360 in the area of bankruptcy law, one of the few attorneys in his field to earn this distinction.

Experience

Official Committees of Unsecured Creditors

In re GT Advanced Technologies Inc.  
Counsel to the official committee of unsecured creditors in reorganization of a solar industry manufacturer and sapphire furnace producer.  This matter was one of the 10 largest bankruptcies filed in 2014, with assets and liabilities listed at over $1 billion.

In re Garden Fresh Restaurants (Sweet Tomatoes and Souplantation)
Counsel to the official committee of unsecured creditors in 363 sale of fast-casual restaurant chains with over 120 locations nationwide.

In re Limited Stores Co.
Counsel to the official committee of unsecured creditors in 363 sale of the intellectual property of women’s clothing retailer with over 250 locations nationwide.

In re Logan’s Roadhouse
Counsel to the official committee of unsecured creditors in reorganization of a steakhouse chain with over 250 locations nationwide.

In re Scout Media, Inc.
Counsel to the official committee of unsecured creditors of online sports media company and owner of Scout.com.

In re USA Discounters Ltd.
Counsel to the official committee of unsecured creditors in liquidation of national retail jewelry chain.

Additional committee representations include OCZ Technology Group, Women’s Apparel Group, Real Mex Restaurants, Acapulco, Chevy’s, El Torito, Magic Brands (aka Fuddruckers), Jennifer Convertibles, C2 Media, Bachrach Acquisition and U.S. Shipping Partners.

Debtor Representation

In re China Fishery Group
Special litigation to chapter 15 Peruvian entities in multinational cross-border bankruptcy.

In re Barzel Industries Inc., et al.
Representation of a steel processing company in a U.S./Canadian cross-border bankruptcy.  Negotiated the $30 million DIP financing facility and a $75 million sale of substantially all of the debtors’ assets.

In re Broadway Trading, LLC, et al.
Representation of a securities brokerage company in its chapter 11 bankruptcy.  The bankruptcy was the first-ever successful bankruptcy filing of an introducing broker-dealer, withstanding challenges to the debtors’ chapter 11 eligibility.  Once such challenges were defeated, we successfully negotiated the financing and sale of the debtors’ assets.

Indenture Trustee Representation

In re Caesars Entertainment Operating Co., Inc., et al.
Counsel to the successor indenture trustee for second lien noteholders in pre-bankruptcy planning and preparation for litigation with debtors over prepetition transfers.

In re Residential Capital LLC, et al.
Representation of the indenture trustee for junior secured noteholders in the negotiation of the use of cash collateral and multibillion-dollar litigation that involved disputes regarding claims in excess of $2.1 billion in the largest bankruptcy filing of 2012.

Lending and Sale Representation

In re CCS Medical, Inc.
Representation of the acquirer of a debtors’ blood glucose monitoring business.

In re Bulk Petroleum Corporation, et al.
Representation of a top ten Fortune Global 500 company in the acquisition of ten debtor-owned and -leased service stations in exchange for the release of prepetition claims and litigation.

FS Jackson Hole Development Company
Representation of the lender in the closing of a $30 million secured construction financing.

Archibald Candy Corporation
Representation of the lender in the syndicated debtor-in-possession financing and a $65 million exit financing.

PremiumWear, Inc.
Representation of the acquirer of a men’s shirt company in a $14 million non-bankruptcy stock purchase.

Other Matters

In re GOE Lima, LLC
Representation of a top ten Fortune Global 500 company in a successful trial and in the subsequent win on appeal of the debtor’s attempt to assume and assign an energy offtake agreement.

In re RWJ Management Co, Inc., et al.
Representation of a top ten Fortune Global 500 company in the successful challenge of the debtors’ attempts to sell properties free and clear of restrictive land-use covenants.

In re Cybersight LLC
Representation of the creditor in successfully opposing the challenge of a chapter 7 trustee to subordinate creditor claims, including oral arguments and a briefing before the U.S. Bankruptcy Court for the District of Delaware, and appeals to the U.S. District Court for the District of Delaware and the Third Circuit Court of Appeals.

Honors

Selected as Law360 – Bankruptcy Rising Star, 2015