Harold B. MurphyShareholder Boston firstname.lastname@example.org 617 226-3414
- Harvard College A.B., cum laude, 1977
- Suffolk University Law School J.D., 1981
Harold Murphy is considered one of the leading insolvency lawyers in New England. According to Chambers and Partners U.S.A., “Harold Murphy is considered ‘the go-to guy when it comes to regional debtor cases of any size.'”
“He is admired for his ‘tenacious approach and ability to find effective realistic business solutions.'”
Mr. Murphy is frequently involved in out-of-court restructurings and has considerable experience in the areas of commercial finance and litigation and matters involving secured lending, mergers and acquisitions. In addition to his work for debtors, Mr. Murphy represents creditors’ committees, trustees, and creditors in Chapter 11 reorganizations and Chapter 7 liquidations. He has served as Chapter 7 and 11 trustee, counsel, and examiner in numerous liquidation and reorganization cases.
Mr. Murphy is the founder and Director of the firm’s Bankruptcy and Financial Restructuring Group.
Mr. Murphy served as a law clerk to the Hon. Thomas W. Lawless, Chief Judge, U.S. Bankruptcy Court, Boston, Massachusetts, 1981-1984.
- Represent operator of statewide broadband network in Chapter 11. Successfully arbitrated claims against state agency and obtained confirmation of a plan of reorganization providing for continued management and operation of the network.
- Represent estate of more than 100 year old iconic candy manufacturer and distributor in Revere, Massachusetts. Conducted distressed sale of substantially all assets. Subsequently investigated and commenced two actions seeking relief under multiple counts and under multiple theories of recovery against the debtor’s management and owner/secured creditor on account of pre-bankruptcy conduct.
- Represent Chapter 11 Trustee in the administration of one of the world’s largest Ponzi and pyramid schemes involving upwards of a million participants who collectively lost approximately $3 billion. Advised and assisted the Trustee in establishing unique procedures and practices to resolve claims of net losers and to pursue recovery from net winners, including institution of plaintiff class action litigation against net winners and establishment of an electronic, interactive online portal for filing of claims. Successfully obtained confirmation of plan resulting in distribution of approximately 40% of allowed claims.
- Inspiration Biopharmaceuticals, Inc. – Represent debtor-operator of biopharmaceutical company focused principally on the treatment of hemophilia. The Debtor consummated two sales of substantially all of its assets, the total consideration of which, including royalties and milestone payments, is estimated to exceed $500 million.
- SW Boston Hotel Venture, LLC, et al. – Represented eight debtors in their Chapter 11 reorganizations in the United States Bankruptcy Court for the District of Massachusetts. The Debtors owned the W Hotel and Residences, a real estate project consisting of a luxury hotel and 122 luxury condominium units. The confirmed plan provided for the immediate sale of the Hotel and the continuing sale by the debtors of the remaining unsold condominiums over time. The case involved multiple lenders owed in excess of $170 million in debt.
- Modern Continental Construction Co., Inc. – Represented the Debtor, the single largest contractor on the so-called “big dig” construction project, in confirming a Chapter 11 plan. As of the petition date, there were fourteen open “big dig” contracts, numerous other open public works contracts, and over $1 billion in debt.
- Regional Hospital Workout – Assisted a regional hospital in successfully restructuring certain obligations. The hospital had issued new bonds to refinance existing bonds and raise funds for new construction. The interest rate for the new bonds was tied to the auction rate securities market. When the auction rate securities market collapsed, the hospital’s interest burden almost tripled. We assisted the hospital in asserting claims against the financial advisor that recommended the transaction. The resulting global settlement included among other things a favorable modification of the swap agreement, a payment to the hospital as well as the release of certain collateral that enabled the hospital to reduce and restructure its institutional debt.
- GPX International Tire Corporation – Represented the Debtor, one of the largest off-the-road, truck and specialty tire manufacturers in the United States and Canada, in confirming its Chapter 11 plan in the United States Bankruptcy Court for the District of Massachusetts.
- Fort Hill Square Associates, et al. – Represented two debtors in their Chapter 11 reorganizations in the United States Bankruptcy Court for the District of Massachusetts. The Debtors held two of Boston’s premiere office towers, One and Two International Place. Our work enabled the Debtors to confirm their plan restructuring approximately $700,000,000 of indebtedness and retaining ownership of the properties.
- Boston Regional Medical Center, Inc. – Represented the Creditors’ Committee in the shut down and subsequent liquidation of a 300 bed hospital with over $50 million in debt. Appointed as liquidating agent, Mr. Murphy oversaw liquidation of substantially all assets, commenced and prosecuted multi-million dollar lawsuits against former officers and directors of the hospital, the hospital accounts receivable lender and the failed pre-petition acquirer of hospital.
- Olympus Healthcare Group, Inc., et al. – Represented multiple debtors in the confirmed Chapter 11 reorganization in the United States Bankruptcy Court for the District of Delaware. As of the bankruptcy filing, Olympus operated nine facilities in Massachusetts and Connecticut providing acute (non-surgical), chronic, medical and rehabilitation services to over 900 patients and employed approximately 1,600 employees. Pursuant to the approved plan of reorganization, the Debtors transferred operating facilities to a third party as part of a competitive sale process.
- Ski Area Workout – Represented entities owning a regional ski area in resisting the lender’s exercise of remedies with respect to secured debt in excess of $5 million for which the principals had provided unconditional guarantees. We were able to persuade the lender to forbear and secure a purchaser for the property for $9 million.
- Caribbean Petroleum LP, et al. – Represented multiple debtors in their Chapter 11 reorganization in the United States Bankruptcy Court for the District of Delaware. The Debtors imported, stored and sold petroleum products in Puerto Rico through a retail chain of approximately 250 franchised service stations. The Debtors had a market share of approximately twenty percent of the Puerto Rican retail petroleum market and debt, on a consolidated basis of over $120 million. A plan of reorganization under which the Debtors’ shareholders retained all of their equity interests was successfully confirmed in March, 2003.
- The Ground Round, Inc. et al. – Represented multiple debtors in confirming their Chapter 11 plan in the United States Bankruptcy Court for the District of Massachusetts. The Debtors were a major restaurant chain comprised of approximately 59 corporate owned and operated restaurants and an additional 73 franchise restaurants