Carl A. Eklund

Litigation, Bankruptcy, Reorganization and Capital Recovery

Carl A. Eklund is senior counsel in the Bankruptcy, Reorganization and Capital Recovery Group. Mr. Eklund's concentration is in large and complex Chapter 11 bankruptcy cases, serving as debtors' and/or creditors' committee counsel. He has an extensive history of representing entities in bankruptcy and insolvency situations involving federal and state regulatory agencies and their interaction with the bankruptcy court. Mr. Eklund's experience includes representation in the airline, commodities, and high-tech industries, among others. A significant part of Mr. Eklund's practice consists of representing a wide variety of entrepreneurs and investors purchasing assets from bankruptcy courts.

Representative Matters

Representation of Creditor Committees

• In re CSI Enterprises, Inc., and Oren L. Benton (D. Colo.), representation of the Joint Creditors' Committee and now the Liquidating Trusts of CSI Enterprises, Inc. and Oren L. Benton, et al. This case involves the individual who had the largest worldwide uranium trading business as well as a variety of other business entities
• In re Colorado Ute Electric Association (D. Colo.), representation of Creditors' Committee of Colorado Ute Electric Association, a generating and transmission system supplying electric bulk power to more than 70 percent of the State of Colorado; unsecured creditors received a 100 percent payout on their claims
• In re Kaiser Steel Corporation (D. Colo.), representation of the Retired Employees' Subcommittee of the Official Unsecured Creditors' Committee in the Kaiser Steel Corporation reorganization; retirees were able to continue with health and Medicare benefits
• In re Hawaiian Airlines (D. Hawaii), representation of Creditors' Committee of Hawaiian Airlines in their first Chapter 11; plan was confirmed
• In re Miniscribe Corporation (D. Colo.), representation of Creditors' Committee of Miniscribe Corporation, a disk drive manufacturer driven into Chapter 11 amid allegations of serious fraud and mismanagement; case was converted to a Chapter 7 and a trustee was appointed
• In re Storage Technology Corporation (D. Colo.), representation of Creditors' Committee in the Chapter 11 reorganization of Storage Technology Corporation, a high-tech manufacturer of hardware for storage of information; creditors received in excess of a 100 percent payout on their claims in this very successful Chapter 11
• In re StorMedia (N.D. Calif., San Jose District), representation of Creditors' Committee in the high-tech case, Stormedia, a liquidating Chapter 11 where creditors were able to realize substantially greater returns than initially expected

Representation of Unsecured Creditors

• In re Pacific Gas and Electric Company (N.D. Calif.), representation of a large unsecured energy creditor as member of the Official Unsecured Creditors' Committee
• In re California Power Exchange Corporation (C.D. Calif.), representation of a large unsecured energy creditor, as member of the Official Unsecured Creditors' Committee
• In re ICG (D. Del.), representation of Qwest as member of the Official Unsecured Creditors' Committee of ICG
• In re Daisytek (N.D. Texas), representation of Exabyte Corporation, an unsecured creditor and member of the creditors’ committee in the Daisytek Chapter 11
• In re: NorthWestern Corporation (D. Del.), representation of South Dakota Public Utilities Commission, a government regulatory agency in the NorthWestern Corporation Chapter 11
• In re Zany Brainy, Inc. (D. Del.), representation of Submitorder, Inc., a large unsecured industry creditor

Representation of Secured Creditors and DIP Lenders  

• In re James River Coal Company (M.D. Tenn., Nashville Div.), representation of Agent Bank, Wachovia Bank, N.A., for the secured lender syndicate in the Chapter 11 filing of James River Coal Company
• In re San Luis Hills Farms, (D. Colo), representation of First Southwest Bank, a secured creditor in the San Luis Farms Chapter 11
• In re Recycling Industries (D. Colo.), representation of General Electric Credit Corporation, the DIP lender in the Chapter 11 filing of Recycling Industries
• In re Redstone Resources, Inc. (D. Colo.), representation of Bank of Oklahoma, a secured creditor in the Redstone Resources, Inc. Chapter 11
• In re Star Acquisition III, LLC (D. Colo.), representation of Hummon Corporation, an oil and gas secured creditor in the Star Acquisition III Chapter 11
  Representation of Asset Purchasers
• In re Kaiser Aluminum Corporation (D. Del.), representation of Alcoa, Inc., a strategic buyer in purchasing assets from Kaiser Aluminum Chapter 11
• In re Redstone Resources and Burning Rock Energy, LLC (D. Colo.), representation of Wilbanks Reserve Corporation, potential purchaser of assets

Representation of Debtors and Related Parties

• In re Frontier Airlines (D. Colo.), representation of the original Frontier Airlines, debtor in Chapter 11; confirmed plan with unsecured creditors paid in full with interest
• In re America West Airlines (D. Ariz.), representation of debtor in its successful Chapter 11 confirmation of America West Airlines; unsecured creditors were paid in full
• In re Denver’s Ocean Journey (D. Colo.), representation of Debtor, a 501(c)(3) organization and owner of an aquarium in Denve; unsecured creditors were paid in full
• In re Consolidated Oil and Gas ( D. Colo.), representation of debtor in Chapter 11; plan confirmed
• In re netLibrary, Inc. (D. Colo.), representation of debtor that resulted in a 363 sale of all the assets as a going concern business within 90 days of filing
• In re USMX, Inc. (D. Colo.), representation of debtor, a gold mining company, in Chapter 11
• In re USMX of Alaska, Inc. (D. Colo.), representation of debtor, a gold mining company, in Chapter 11

Professional Activities

American Bar Association
Colorado Bar Association (Board of Governors, 1980-1982)
Denver Bar Association (Board of Trustees, 1983-1986)
American Bankruptcy Institute
American Bankruptcy Institute Law Review Advisory Board (1993-1999) 
American College of Bankruptcy, Fellow
Faculty of Federal Advocates (Board member and trustee, 1999-2001)

Recognition & Accomplishments

The Best Lawyers in America, bankruptcy and creditor-debtor rights law, and bankruptcy litigation, 1987-2012

Who's Who in America

Who's Who Legal

Ranked by The Deal as one of the top bankruptcy lawyers in the country by number of active assignments in 2009

Publications

"The Problem with Creditors' Committees in Chapter 11: How to Manage the Inherent Conflicts Without Loss of Function," The American Bankruptcy Institute Law Review, No. 1, Spring 1997

Contributing author, Collier's Bankruptcy Practice Guide

Contributing author, Representing Debtors in Bankruptcy, Vols. 1-4

Contributing author, Advanced Chapter 11 Bankruptcy Practice

Contributing author, Legal Opinion Letters Formbook

Speaking Engagements

Frequent speaker and commentator on bankruptcy, workouts, and reorganization

Board Memberships

City Club of Denver

The University of Colorado Foundation, Vice Chair

University of Colorado Law School (J.D. 1971)

University of Colorado (B.A. 1967)

Colorado

District of Columbia