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Tonkon Torp-Led Sale of NORPAC Foods, Inc. Named Global 2020 M&A Deal of the Year
March 4, 2021
Oregon
Led by Al Kennedy, Tonkon Torp served as the primary debtor-seller representative for NORPAC in its chapter 11 cases, which involved the sale of a variety of hard and soft assets and payment of claims of more than $200 million. Key attorneys involved in structuring the multi-faceted sale of NORPAC’s assets under section 363 of the Bankruptcy Code and developing NORPAC’s chapter 11 plan of liquidation include Mike Fletcher, Tim Conway, Tom Palmer, Ava Schoen, and Danny Newman.
With the sales complete and the bankruptcy plan confirmed and effective as of November 30, Tonkon’s bankruptcy and restructuring attorneys will continue to work with SierraConstellation Partners, LLC, NORPAC’s financial adviser and chapter 11 Plan Agent, to reconcile all claims and conclude the bankruptcy plan, including making substantial distributions to unsecured creditors significantly above the amounts projected at the outset of the chapter 11 cases.
“We are proud to have achieved a great result for our client, its creditors, and the agricultural industry in the Pacific Northwest,” said Mike Fletcher. “I applaud my colleagues for providing diligent and responsive service during a very difficult transaction process for all involved. We are thrilled to have this deal recognized and in such esteemed company. Compared to some of our fellow award winners, Tonkon Torp may have a small footprint, but we have proven again that we have the bench strength, experience, and expertise to handle world-class transactions such as this for our clients.”
The M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. It is recognized as the premier global network of M&A, turnaround, and finance professionals. The M&A Awards is judged by an independent committee comprised of top M&A industry experts.
Tonkon Torp's Bankruptcy & Reorganization practice is recognized nationally for its strategic and results-oriented approach. Experienced lawyers identify and tailor solutions for debtor and creditor clients of all sizes, and have represented debtors in most of the largest chapter 11 cases filed in Oregon and the Pacific Northwest in the last few decades. Tonkon Torp's M&A team represents public and private companies as buyers, sellers, targets and other participants in acquisitions, divestitures, spin-offs, control and proxy contests, reorganizations and joint ventures.
About Tonkon Torp
Tonkon Torp LLP is a leading business and litigation law firm serving public companies, substantial private enterprises, entrepreneurial businesses, and individuals throughout the Northwest. For more information about our services visit www.tonkon.com.