Here’s how two opposing Miami law firms rethought traditional Chapter 11 bankruptcy infighting to help a struggling chain of Florida shoe stores restructure while other retailers folded.
Instead of fostering the antagonism that typically pits floundering companies against unsecured creditors, debtor’s counsel from Meland Russin & Budwick and creditor representatives from Berger Singerman looked ahead. They collaborated instead of digging in their heels, and in the end, helped create a business plan to bring Traffic Shoes back from the brink.
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