TURNAROUND OF THE YEAR! – WHP Team Represents Creditors’ Committee in Quaker Steak & Lube Restructuring

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WHP attorneys Christopher Peer and John Polinko were recently honored with the Turnaround of the Year award presented by Turnaround Management Association for their efforts in representing the interests of unsecured creditors in the Chapter 11 cases of Wings of Medina Liquidating, LLC (more commonly known as Quaker Steak & Lube).  Also honored for the transaction and turnaround, were the Committee’s financial advisor, Mark Kozel of BDO, Debtors’ Counsel, Scott Opincar and Michael Kaczka of McDonald Hopkins, and Debtors’ financial professionals, John Lane and Stuart Saddler of Inglewood Associates.Considered a resounding success, the efforts of WHP’s attorneys directly resulted in significant recovery for unsecured creditors (presently estimated at 60-80%) through oversight of the Debtors’ efforts to sell substantially all their assets to TravelCenters of America, negotiation of all outstanding secured claims, and negotiation of the Plan of Liquidation.

Matthew Nakon, WHP’s President, credits Peer and Polinko with expanding the Firm’s bankruptcy and creditors’ rights practice saying, “Chris and  John have added much depth and experience to our creditors’ rights and corporate bankruptcy practice.  We are very proud to have them leading our financial distress team and providing opportunities for our clients.”