John Kim specializes in bankruptcy and creditors' rights cases, business litigation, and construction defect litigation. He advises clients on creditor rights and remedies in relation to distressed companies, in and outside the context of bankruptcy proceedings.
Mr. Kim has experience representing financial institutions, energy businesses, healthcare companies, utility companies, secured and unsecured creditors, creditors' committees, real estate developers, and retail landlords. He has a wide and varied practice representing a range of clients and interested parties in bankruptcy courts, federal district courts, and state courts.
Mr. Kim has negotiated and drafted asset purchase agreements, disclosure statements, and plans of reorganization. He has also handled bankruptcy adversary proceedings and business litigation involving preferences, fraudulent conveyances, lender liability, non-dischargeablity complaints, and enforcement of subordination agreements.
He has represented parties in avoidance litigation in bankruptcy cases and parties in interest in mid-sized bankruptcy cases as well as large bankruptcy matters including: IndyMac Bancorp, Flying J, Inc., Aloha Air, Mirant, Cal PX, Enron, Worldcom, Pacific Gas & Electric Co., and Global Crossing.
Mr. Kim was also a Judicial Extern to the Honorable David P. Yaffe, Los Angeles Superior Court and the Honorable Dickran Tevrizian, Central District of California, United States District Court.
Representative Work
Federal Deposit Insurance Corporation. Representing FDIC as receivers for IndyMac Bank, F.S.B., First Federal Bank of California, F.S.B., and Vineyard Bank National Association in connection with the bankruptcy of the holding companies IndyMac Bancorp Inc., FirstFed Financial Corp. and Vineyard National Bancorp, respectively.
In re Valley Health System. Assisted a major healthcare firm in its acquisition of a community hospital from a Chapter 9 bankruptcy debtor, Valley Health Systems. The $53 million sale closed after clearing numerous hurdles, including unique issues presented by the fact that the debtor in bankruptcy is a "public health district," as well as opposition from private citizens and the resolution of bond debt.
In re Axium International, Inc. et al. Represented several IT consulting firms hired by the debtors to perform services for third party customers for which the debtors then invoiced the third party customers. The debtors were serving as an "administrative" intermediary. Secured an emergency bankruptcy court order rejecting the prepetition business contracts with the debtors so that the clients could pursue direct relationships with third parties and minimize further contractual obligations to the bankrupt estate.
In re Big West of California LLC (Flying J Inc. et al.). Representation of several crude oil producers that sold goods to Debtor Big West of California LLC in Flying J's Chapter 11 bankruptcy case. The representation related to the prosecution of pre-petition and administrative priority claims for obligations relating to amounts owed from the sale of oil and for some clients, damages due to the loss of future sales as a result of the debtor's cessation of purchases under contract. Damages sought were in excess of $10 million. Successfully obtained orders granting the rejection of various post-petition crude oil agreements with the Debtor to enable clients to market oil to third parties. In connection with plan confirmation hearings, aggressively negotiated claims resolutions resulting in the recovery of 100% of the allowed claims, inclusive of post-petition interest, to be paid immediately.
Trigen-LA Energy (formerly known as Sempra Energy). Assisted in securing a claim of nearly $2 million on client's behalf in connection with the Queen Mary bankruptcy. The representation related to the assumption and assignment of a long-term energy and infrastructure agreement and the cure of all outstanding arrearages.
San Diego Gas & Electric Company. Represented SDG&E in Mirant Corporation to settle refund claims totaling over $300 million stemming from electricity purchases by the California utility during the California energy crisis in 2001 and 2002.
Sempra Energy Company. Representation of largest unsecured creditor in a law firm bankruptcy case. Successfully obtaining client an allowed claim in excess of $3.2 million relating to unpaid rent and rejection damage claims under Section 502(b)(6).
Los Angeles City Employees' Retirement System ("LACERS") v. Connecticut General Represented the Los Angeles City Employees' Retirement System against its former health insurer regarding the proper treatment of reserves for incurred but not reported (IBNR) claims at policy termination and whether a reconciliation agreement existed for such insurance reserves. Client obtained settlement that recovered a significant portion of IBNR reserves withheld by the insurer.
SSR Marlowe LLC vs. Taisei et al. (Los Angeles Superior Court) Represented public agency plaintiff in construction defect litigation relating to a 121 unit luxury apartment building. Massive defects in the building required complete reconstruction of the building envelope. Negotiated a confidential settlement which recovered the vast majority of plaintiff's out of pocket repair costs.