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Client: Large National Bank
Represent agent bank in $100 million syndicated loan workout and subsequent bankruptcies involving large national lumber company

Represented bank for itself and as agent of a seven bank syndicate in connection with a $100 million loan workout and subsequent bankruptcies involving a Lyman Lumber Company and its 10 affiliates. In the ensuing Chapter 11, the restructured company was sold in a 363 process resulting in a full payout to the bank group. A plan of liquidation was confirmed to deal with the remaining assets. Further liquidation of bank collateral is ongoing.

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