Tarter Krinsky & Drogin has been retained as counsel to the Official Committee of Unsecured Creditors in the Chapter 11 case of Transmar Commodity Group Ltd., pending in the Bankruptcy Court for the Southern District of New York. Transmar operates as a full-service cocoa trading and cocoa butter product supplier. Its customers include many of the major chocolate producers including Hershey, Mars, Nestle, Guittard Chocolate, Ghiaradelli Chocolate and Barry Callebaut. Since the filing of Transmar’s case, it has been orderly winding down its operations in cooperation with its secured lenders. Due to an unexplained loss of collateral value in the months preceding the bankruptcy filing, the case has attracted the attention of numerous media outlets.
In total, Transmar has more than $425 million in secured and unsecured debt. In this important role as counsel to the Official Committee of Unsecured Creditors, Tarter Krinsky is actively taking steps to maximize value for all unsecured creditors in the case. The TKD team includes Bankruptcy and Corporate Reorganization partners Scott Markowitz and Rocco Cavaliere and counsel Michael Brownstein.
|Brownstein, Michael Z. Counsel||Counsel||212.216.8036|
|Cavaliere, Rocco A. Partner||Partner||212.216.1141|
|Markowitz, Scott S. Partner and Co-Chair of Bankruptcy and Corporate Restructuring Practice||Partner and Co-Chair of Bankruptcy and Corporate Restructuring Practice||212.216.8005|