News & Events

The Firm has obtained a judgment in federal district court in Boston in favor of the restructuring unit of Evercore Partners. In 2004, Evercore assisted High Voltage Engineering Corp complete a prepackaged plan of reorganization in the bankruptcy court in Boston. After the company emerged from bankruptcy, it terminated Evercore's services and, without Evercore's assistance, mismanaged its liquidity, leading to a second bankruptcy filing six months later. Although all the creditors were paid in full and a substantial recovery was obtained for shareholders from the sale of the company, the company nevertheless filed a lawsuit against all the advisors to the first bankruptcy, alleging that they acted wrongfully in allowing the company to emerge from bankruptcy the first time. Evercore and the other defendants moved for judgment on the pleadings on a variety of grounds and the court elected to grant them all judgment on the doctrine of in pari delicto.

In a related case, the district court affirmed a decision of the bankruptcy court dismissing a related effort by the company to revoke prior bankruptcy court approval of the fees of Evercore and the other advisors in the first bankruptcy case.

Attorneys from the firm who worked on the matter included Mark Thompson, Paul Curnin, Elisha Graff, Amanda Perez, Tamala Boyd and Sarah Davis.