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Specializing in insolvency and complex commercial matters since 1974

Firm Files Chapter 11 Petitions For Three Additional Odyssey Entities - August 10, 2012

On August 10, 2012, the firm filed chapter 11 petitions for Odyssey Diversified VI, LLC, Odyssey Diversified VII, LLC, and Odyssey Diversified IX, LLC, each a holding company that in turn owns multiple single purpose entities that own commercial real estate properties. The cumulative holding company debt of the three companies, exclusive of guarantees of subsidiary debt, is approximately $90 million. The firm had previously filed chapter 11 petitions for sixteen other entities within the Odyssey Group and has assisted the non-filing members of the Odyssey Group in restructuring other loans in out-of-court workouts. Harley Riedel and Edward Peterson are leading the firm’s representation in these cases.