Lowenstein beats US elite to Chapter 11 litigation

New Jersey firm Lowenstein Sandler has beaten US heavyweights Reed Smith, Sonnenschein Nath & Rosenthal and Winston & Strawn to advise the unsecured creditors committee in a Chapter 11 bankruptcy matter.

The firm, ranked 173 in the AmLaw 200, won a beauty parade to represent the unsecured creditors committee – which represents 500 plaintiffs who were caught up in a discotheque fire in Rhode Island in February 2003 – in the bankruptcy proceedings of Foamex International.

Lowenstein partners Kenneth Rosen and Sharon Levine are leading the team.

Foamex suffered financially after one of the company’s insulation products was found to have helped spread the fire.

The case, filed in Delaware, involves $90m (£50.7m) in trade debt and $700m (£394.6m) in bondholder debt.