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Asbestos Manufacturers' Bankruptcies and Asbestos Settlement Trusts

Official Committee of Asbestos Property Damage Creditors of W.R. Grace and U.S. Gypsum
Counsel to the Official Committees of Building Owners in the chapter 11 bankruptcy cases of Celotex Corporation, W.R. Grace, U.S. Gypsum, United States Mineral Products, and Federal Mogul. Also counsel to the asbestos settlement trusts established in Celotex, United States Mineral Products and Swan Transportation. In Celotex, successfully prosecuted more than 600 claims. In W.R. Grace, prosecuted avoidance actions against Sealed Air Corporation and Fresenius National Medical Care Corp. resulting in a $1.2 billion settlement.
Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
Representation of the Official Committee of Unsecured Creditors in the chapter 11 case of Poinciana Development, a developer of more than 500 single family homes in Southwest Miami-Dade County, Florida, who ran out of construction financing and was unable complete the development of the last 34 home...

Successful representation of California bank in complex mortgage foreclosure debt recovery action through state court and bankruptcy court in the Southern District of Florida, which resulted in the criminal indictment of the borrower's principal for bank fraud.