Irell & Manella LLP, a full service law firm with offices in Los Angeles and Newport Beach, today announced that the chapter 11 plan filed by Chevys Mexican Restaurants and its affiliates (the Debtors"), and endorsed by the Official Committee of Unsecured Creditors represented by Irell & Manella LLP, has been confirmed by the United States Bankruptcy Court for the Northern District of California. The Debtors, together with their affiliates own and operate the Chevys Mexican Restaurant chain of casual dining Mexican restaurants, as well as the Fuzio Restaurant chain.
Newport Beach, CA (PRWEB) December 25, 2004 -- The Plan provides, among other things, for a sale of Chevys assets to an affiliate of Real Mex (the owner of the Acapulco and El Torito Mexican restaurant chains). Unsecured Creditors will receive cash estimated to approximate between 40 and 50 cents on the dollar. The Plan, which incorporates and effectuates various settlements among the Debtors major stakeholders, was supported by the Debtors key creditor constituencies and received overwhelming support from the creditor body.
Jeffrey M. Reisner and Tavi C. Flanagan, attorneys in Irell & Manella LLPs Newport Beach-based bankruptcy practice, took the lead in representing the Creditors Committee in the Debtors chapter 11 cases. The Committees financial advisors were Dennis Simon, William Creelman, and Kenneth Yuan of XRoads Solutions. The Debtors were represented by Richard L. Wynne, Michael Gottfried and Kelly K. Frazier, attorneys at the Los Angeles office of Kirkland & Ellis LLP and assisted by Chief Restructuring Advisor, Steven Coffey, and Steve Green and Kerry Krisher of Kibel, Green Inc. The Bank Group was represented by Brian Holman of White & Case and CCV Advisors.
Irell & Manella LLPs insolvency department represents debtors, creditors, creditors committees, and bankruptcy trustees in legal cases throughout the United States.
One of the leading law firms in the United States, Irell & Manella LLP was founded in Los Angeles in 1941. Dedicated to excellence, the firm is a full-service commercial law partnership with a professional legal staff now comprising more than 240 attorneys, 88 of whom are partners. The firm was hailed for winning one of the Top 15 Defense Verdicts of 1999" by The National Law Journal. For more information on Irell & Manellas full range of professional legal services, visit the firm online at www.irell.com.
Press Contact:
Shannon Hartigan / Liam Collopy
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