Mayer Brown represents Katsumi Servicing in First Brands Chapter 7 liquidation
Mayer Brown represents Katsumi Servicing, LLC, a trade financier, in the First Brands bankruptcy cases. Katsumi was a prepetition receivables purchase counterparty with various First Brands entities and holds one of the largest unsecured claims in the cases.
In a significant recent development, United States Bankruptcy Judge Christopher Lopez rejected First Brands' proposed Chapter 11 plan, adopting arguments advanced by Mayer Brown on behalf of Katsumi and the plan unconfirmable. Following this ruling, the judge chose to convert the cases to Chapter 7, which was also advocated for by Katsumi.
The Mayer Brown team is led by partners Charles Kelley, Sean Scott, Rich Stieglitz, and Gary Johnson, along with associates Arlene Amador, Lauren Blanchard, and Kyle TumSuden, based in the firm's Chicago, Houston, and New York offices.
