Experience

Chapter 11 Bankruptcy Case

Official Committee of Unsecured Creditors of Metromedia Fiber Network, Inc.

Chadbourne acted as counsel to the Creditors' Committee in the successful stand-alone reorganization and restructuring of Metromedia Fiber Network, a major international fiber optic cable telecommunications company with over $2 billion in debt. Chadbourne was instrumental in bringing about significant corporate governance modifications after the committee developed concerns about the control exerted over the debtors by their controlling shareholder. By expediting litigation to resolve these issues, Chadbourne's efforts quickly led to a new, court-approved governance structure that protected the debtors' estates from improper shareholder interference. The debtors successfully emerged from Chapter 11 with the recovery to unsecured creditors that exceeded analysts' initial expectations.