[March 11, 2014]

Greenberg Glusker's Bankruptcy Group Named Winner of M&A Advisor Turnaround Award

Greenberg Glusker today announced that its Bankruptcy, Reorganization and Capital Recovery practice has been chosen to receive a Turnaround Award by The M&A Advisor in the category of Sec. 363 Sale of the Year.

The award for the Section 363 Sale of the Year (between $10M and $50M) was given to recognize Greenberg Glusker's work in connection with the sale of Rhythm & Hues (R&H), the multiple Oscar winner and visual effects provider for the movie "Life of Pi." Following an emergency bankruptcy filing, and an interim DIP loan, Debtor R&H was sold in less than 90 days in a 363 auction for approximately $30,000,000. Remarkably, the company, which had run out of cash to pay payroll before the chapter 11 filing, was transitioned to a successful sale. During this time period, the Greenberg Glusker restructuring and deal teams worked virtually around the clock to ensure the Debtor's successful transition into chapter 11, the approval of the DIP loan and other administrative requirements of bankruptcy, and engaged in a robust two-day auction for the sale.

"The intense efforts of our bankruptcy tam with the support of the corporate and employment lawyers at the Firm came together seamlessly to support R&H in arranging financing for the company, handling the numerous employment-law issues as the company transitioned into chapter 11 and the ultimate sale of the company," said Brian Davidoff, the chair of Greenberg Glusker's Bankruptcy, Reorganization and Capital Recovery practice.

Greenberg Glusker worked with Scouler & Co. as the financial adviser, and Houlihan Lokey as the investment banker.

"The award winners represent the best of the distressed investing and reorganization industry in 2013 and earned these honors by standing out in a group of very impressive candidates," said David Fergusson, president of The M&A Advisor. "From lower middle market to multi-billion dollar deals, we have recognized the leading transactions, firms and individuals that represent the highest levels of performance."

The nominations, representing over 500 participating companies, were judged by an independent jury of industry experts. The awards were presented at a Gala Dinner in Palm Beach, Florida on March 11, 2014.

About The M&A Advisor

Since 1998, The M&A Advisor has been presenting, recognizing the achievement of and facilitating connections between the world's leading mergers and acquisitions, financing and turnaround professionals with a comprehensive range of services including M&A SUMMITS; M&A AWARDS; M&A CONNECTS; M&A ALERTS, M&A LINKS, and M&A MARKET INTEL. More information is available at www.maadvisor.com.

About Greenberg Glusker

For nearly 55 years, Greenberg Glusker has held a unique position in Los Angeles as a full-service law firm. Greenberg Glusker maximizes client potential by providing strategic business and legal counsel in matters involving bankruptcy, corporate, employment, entertainment, environmental, intellectual property, litigation, real estate, taxation and trusts and estates. For more information, visit GreenbergGlusker.com.

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