Mr. Clapp has represented clients in numerous significant cases. Examples of cases Mr. Clapp has handled include the following:
- In preference action, successfully prosecuted action to Ninth Circuit, which reversed judgment against client. Liquidation Estate of DeLaurentiis Entertainment Group, Inc. v. Technicolor, Inc., 87 F.3d 1061 (9th Cir.), cert. denied, 519 U.S. 1007 (1996).
- Representing Daimler-Benz AG, successfully defended action to subordinate $10M claims in Rocky Mountain Helicopter, Inc. chapter 11 case.
- Represented creditor with fixed and contingent claims exceeding $100 million, in Consolidated Freightways, Inc. chapter 11. Issues included rights and obligations arising from client’s 1996 spinoff of debtor and complex tax issues.
- Successfully settled $1.5 MM preference lawsuit for individual defendant, with no cash payment required.
- Representation of major workers' compensation carrier on insurer's rights in numerous chapter 11 cases filed by insureds.
- Principal draftsperson of all chapter 11 filings and transaction documents in "prepackaged" reorganization cases of Prandium, Inc. and ZiLOG, Inc. The plans in both cases were confirmed within 90 days of filing.
- Senior bankruptcy attorney in Wilshire Center Partnership chapter 11 ($30 million real estate case); Fedco, Inc. chapter 11 ($120 million § 363 sale).
- Engaged in the full range of litigation that arises in chapter 11 cases, including:
- Preference and fraudulent transfer actions.
- Objection to and defense of creditors’ claims, including administrative expense claims.
- Actions to defend or challenge the perfection of security interests.
- Actions to lift or enforce the automatic stay.
- Actions relating to retention of professionals, fee applications, etc.
- Represented chair of creditors committee in Kaiser Steel Corp. chapter 11 case (successfully resolved client’s $5 million priority claim); represented leading committee members in Maxicare, Inc. and other chapter 11 cases.
- Frequent advice to investment banks, financial advisors, accounting firms, and other professionals regarding issues of retention and payment in chapter 11 cases, including preparation and defense of fee applications.
- Frequent advice on fraudulent transfer, substantive consolidation, preference, and related issues in securities offerings, exchange offers, LBO, M&A, and real estate transactions.
- Represented acquirors and competing bidders in numerous § 363 auctions, including negotiation and documentation of asset sales, business combinations, IP assignments, financing agreements, and other transactions.
- Drafted and negotiated all debt restructuring documents in successful debt-to-equity exchange for privately held import company.
- Represented National Hockey League, in chapter 11 case of Los Angeles Kings hockey club and sale of club to NHL-approved buyer.
- Pro bono advice to Sierra Club and other Humboldt Country environmental organizations in connection with Pacific Lumber Co. chapter 11 case.