Member's Deal Featured in Bankruptcy Newsletter, Turnarounds & Workouts
The successful reorganization of Puerto Rico's Marina Puerto del Rey, Inc., in which Charlotte Bankruptcy Member Zach Smith served as lead counsel to hedge fund Putnam Bridge, was featured in the December 2013 issue of Turnarounds & Workouts. The article, “Charting a New Course,” highlights Smith’s involvement, and ways in which the acquisition will further the health of Puerto Rico’s economy as a whole.
“’The marina was a high-profile real estate asset in Puerto Rico,’” Smith said. “’There was attention to it and we follow cases and developments in Puerto Rico constantly. When we first became involved, the debtor was not actively seeking an investor or acquirer, we did not have any existing connection to the debtor, and we had to create the necessary momentum and drive forward.'"