Jonathan Hook is of counsel in the Bankruptcy and Business Restructuring practice group in the New York office of Haynes and Boone, LLP.
Jonathan was selected for inclusion in New York Rising Stars - Metro Edition, 2011-2012.
Selected Client Representations:
- Lyondell Chemical Company, et al. – Counsel to multiple significant creditors in this mammoth chapter 11 case currently pending in the Southern District of New York, in which the bankruptcy court approved an $8 billion post-petition financing facility;
- Wellman, Inc., et al. - Counsel to The Bank of New York Mellon, as successor administrative and collateral agent for the first lien lenders holding $185 million of senior secured debt;
- Five Mile Capital, et al. - Counsel to Five Mile Capital in its capacity as a member of the Starwood consortium, in connection with the Starwood consortium's bid to acquire Extended Stay and certain of its affiliates, owners of extended stay hotels.
- Broadstripe, LLC, et al. - Counsel to Nexbank, SSB, as administrative agent for the second lien lenders, as well as majority second lien lenders, holding $102 million of secured debt;
- Enron Corp., et al. - Bankruptcy counsel to the Debtors in their chapter 11 cases;
- Allegiance Telecom, Inc., et al. - Bankruptcy counsel to the Debtors in their chapter 11 cases;
- Tower Automotive Inc., et al. - Bankruptcy counsel to the Debtors in their chapter 11 cases;
- Saint Vincent Catholic Medical Centers, et al. - Bankruptcy counsel to the Debtors in their chapter 11 cases;
- Calpine Corporation, et al. - Counsel to The Bank of New York Trust Company, N.A., as Indenture Trustee of more than $100 million in principal amount of municipal bonds, as well as in its capacity as a member of the Official Creditors Committee;
- New Century TRS Holdings, Inc., et al. - Counsel to Wells Fargo Bank, N.A., as Indenture Trustee and as a member of the Official Creditors Committee; and
- Dura Automotive Systems, Inc., et al. - Counsel to HSBC Bank, N.A., as Indenture Trustee and as a member of the Official Creditors Committee.
- "Annual Review of Litigation, Chapter 3: Appellate Practice," contributor, with Kendyl Hanks and Mark Trachtenberg, American Bar Association, Section of Business Law, April 2011.
- "Daubert: Intruder or Invited Guest in Bankruptcy Cases?" ABA Section of Business Law, 2008 Spring Meeting, April 10-12, 2008.
Selected Representative Experience
Innkeepers USA Trust
Representation of Midland Loan Services, the special servicer for an $825 million mortgage debt, in the Chapter 11 case of InnkeepersUSA Trust. Innkeepers' attempt to enter into a plan support agreement regarding a debt-for-equity swap was defeated. Midland's efforts resulted in the properties being placed on the market and a substantial increase in creditor recoveries.
Latham International, Inc. - Chapter 11 Prepackaged Plan
Representation of prepetition lenders (funds and private equity) in acquisition of the largest manufacturer of swimming pool components and pool accessories in North America pursuant to a prepackaged plan of reorganzation.
Represented The Bank of New York as agent for the first lien lenders in this Chapter 11 case in the Southern District of New York. Successfully defeated efforts by the Debtor and junior lienholders to effect a cramdown valuation of the agent’s collateral at $70 million. After a hotly contested evidentiary trial, the efforts by Wellman and the junior lienholders failed and the court found the value of the agent’s collateral to be $140 million - two times the amount proposed by the debtor and junior lienholders.
FX Luxury Las Vegas, LLC - Bankruptcy
Representation of second lien agent and certain second lien (junior) lenders in the FX Luxury Las Vegas I, LLC bankruptcy case in the Las Vegas, Nevada bankruptcy court. Successfully obtained ownership for the firm's clients of a seventeen-acre property located on the Las Vegas strip across from City Center.
04/30/2009 - Weathering the Storm: Recent Decision Creates Additional Cash Requirements to Reorganize
On April 8, 2009, the Second Circuit Court of Appeals issued a ruling that creates an additional hurdle for companies providing single-employer pension funds when seeking to reorganize through a bankruptcy. In general, the termination of a pension plan can give rise to a per-employee termination premium (a “Termination Premium”) owed by the company terminating the plan to the Pension Benefit Guaranty Corporation (“PBGC”), the quasi-governmental entity that insures pension plans.