The Florida Institute for Neurologic Rehabilitation
Allegations of abuse and neglect of patients by its caregivers have forced The Florida Institute for Neurologic Rehabilitation into seeking bankruptcy protection in Tampa, according to the Tampa Bay Business Journal.
Craig Kelley, a name partner at West Palm Beach's Kelley & Fulton, is advising the debtor in its Chapter 11 case. The Wauchula, Floridabased brain injury treatment center lists assets of only $150,000 against potential liabilities of up to $30 million.
According to a list of the institute's 20 largest unsecured creditors, the debtor owes $153,627 to at least four firms: Berger Singerman, Broad and Cassel, DeCiccio & Johnson, and Shumaker, Loop & Kendrick.
After defaulting on a $50 million Wells Fargo loan in November, Agoura Hills, Californiabased video game developer THQ filed for bankruptcy in Delaware on December 19 in order to proceed with the $60 million sale of its assets to stalking horse bidder Clearlake Capital Group.
THQ, whose value has sank to $11.3 million after reaching a height of $2 billion in 2007, lists approximately $248.1 million in debts against assets of $204.8 million in its Chapter 11 filing. Nonetheless, despite a string of failed ventures, the company has had some success lately with action-themed games like Homefront and Saints Row.
Gibson, Dunn & Crutcher corporate partner Jonathan Layne and restructuring partner Jeffrey Krause are leading a team from the firm advising THQ that includes corporate partner Ruth Fisher, restructuring partner Oscar Garza, and finance partner Cromwell Montgomery. M. Blake Cleary and Michael Nestor Delaware's Young Conaway Stargatt & Taylor is serving as local counsel to the debtor. Neither firm has yet filed billing statements with the bankruptcy court.
DLA Piper restructuring cochair Gregg Galardi and partner Matt Murphy are counseling Santa Monicabased private equity firm Clearlake on its proposed section 363 purchase of THQ, whose auction process was extended this week by the bankruptcy court. (Galardi joined DLA in May 2011 after leaving Skadden, Arps, Slate, Meagher & Flom.)
Paul Silverstein, cochair of the bankruptcy and restructuring practice at Andrews Kurth, is representing an official committee of unsecured creditors along with restructuring partner Jonathan Levine and litigation partner Timothy McConn. Adam Landis, a name partner at Delaware's Landis Rath & Cobb, is serving as local counsel to the committee along with partner Kerri Mumford.
According to a list of THQ's 40 largest unsecured creditors, the company owes nearly $45.1 million in licensing fees to World Wrestling Entertainment. Edward Kaufman, a former general counsel for WWE, has served since 2009 as executive vice president for business and legal affairs at THQ. The WWE's longtime outside counsel is Jerry McDevitt, a litigation partner at K&L Gates in Pittsburgh. The firm has not yet made an appearance in THQ's bankruptcy proceedings.