SageCrest

The Case

The Firm represented SageCrest, a hedge fund based in Greenwich, Connecticut, in its Chapter 11 case.  SageCrest held a wide variety of complex financial, insurance, art and real estate investments, including investments in multiple hotels, which had to be liquidated in an orderly fashion to maximize recoveries to investors and other creditors.  Neligan LLP successfully negotiated and confirmed an agreed plan of liquidation with Deutsche Bank (which held over $300 million in secured debt), the onshore investors committee, and the offshore  Bermuda funds (which were simultaneously in a liquidation proceeding in Bermuda).