Kaiser v. Frates
In the late 1980s, an investor group acquired the bankrupt Kaiser Steel Corp. in a leveraged buyout - a complex deal which led to subsequent multi-jurisdictional litigation on a national scale. One of our lawyers defended The Frates Group against actions, including those alleging fraudulent conveyance and breach of fiduciary duty, with claims totaling $125 million. A Chapter 11 reorganization and three interlocutory appeals to the 10th Circuit resulted in transfer of this case from bankruptcy court to federal district court, where a highly favorable settlement was achieved.