MIAMI, FL– December 9, 2024, Bast Amron attorneys Jeff Bast and Dana Quick, together with Senior Paralegal Maria Desvergunat, successfully navigated the very complex Assignment for the Benefit of Creditors (an “ABC”) of Liberty Power Holdings, LLC. At the commencement of the case, half of the jointly operated companies, which held all of the customer contracts for Liberty, had been placed into a Chapter 11 proceeding after its secured lender exercised step-in rights. The other half of the company, which ultimately comprised the ABC, held all of the employees, systems, and other assets necessary to administer the customer contracts.
However, the Assignor had summarily dismissed all of the employees on a Sunday night shortly before the bankruptcy was filed. By the time the ABC had been filed, the Bankruptcy Court had entered orders against the Assignor, requiring it to provide access and operations to support the Debtor’s business operations pursuant to a management agreement executed between the companies pre-petition. Bast Amron represented Phil von Kahle of Moecker & Associates as Assignee of Liberty Power.
Despite the rocky entrée into the ABC and bankruptcy, the Assignee and Bast Amron were able to sort through the Bankruptcy Court’s directives and obtain reasonable compensation for the services ordered to be provided. Additionally, they located and liquidated assets belonging to the Assignor, allowing them to wind up Liberty Power’s affairs and make a sizeable return to the Assignor’s prior employees on their WARN claims.
About Bast Amron
BAST AMRON is a boutique law firm focused on business insolvency and litigation. Our insolvency practice emphasizes workouts, restructurings, liquidations, bankruptcy, and bankruptcy avoidance. We represent debtors, creditors, committees, trustees, and other fiduciaries in bankruptcies, receiverships, and assignments for the benefit of creditors. Our litigation practice is primarily plaintiff-oriented. We know how to investigate, formulate, and prosecute claims arising from business disputes. By combining our business insolvency knowledge with our extensive courtroom experience, we successfully guide our clients through all aspects and types of commercial litigation in state and federal courts across the country. Whether the issue is litigation or insolvency, or both, we view our clients’ needs through a holistic lens to formulate and implement dynamic solutions to their most important challenges. Click here to visit our website.