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Berger Singerman Wins Two Awards at M&A Advisor's 11th Annual Turnaround Awards

January 31, 2017

Awards Showcase Firm’s Experience in Refinancing, Restructuring, Retail and Hospitality

MIAMI, FL Jan. 31, 2017 Berger Singerman, Florida’s business law firm, is pleased to announce that the firm is a winner of two awards by the M&A Advisor at its 11th Annual Turnaround Awards to be held on March 22-23 at The Colony Hotel in Palm Beach. The firm was recognized as a winner in the categories of Refinancing Deal of the Year (Over $250MM) for its work on the restructuring and sale of Peninsula Papagayo Resort, and as a winner in the category of Consumer Discretionary Deal of the Year (Over $25MM to $50MM) for its work in the chapter 11 case of Simply Fashion Stores, Ltd.

Berger Singerman and financial advisors, REH Capital Partners and Algon Group, represented the former owner of the Peninsula Papagayo Resort (“Resort”) in Costa Rica with respect to the refinancing and sale of a majority interest in the Resort which is a 1,400-acre luxury master development in Costa Rica, anchored by the 182-key Four Seasons Papagayo, an 18-hole Arnold Palmer-designed golf course, a clubhouse, the 180-slip Marina Papagayo and the 38,000 square foot Prieta Beach Club.  “This multi-year deal was a complex, cross-border transaction involving various sophisticated business entities who faced multiple, difficult challenges requiring collaboration amongst the professionals in several jurisdictions,” said Robert W. Barron, a partner on Berger Singerman’s Business, Finance & Tax Team. “The initial challenge was the resolution of disputes with the lender holding the mortgage indebtedness secured by the Resort,” continued Jordi Guso, a partner on the firm’s Business Reorganization Team.  The Peninsula Papagayo Resort deal team included Barron, Guso, Phyllis S. Bean and Iryna Ivashchuk of Berger Singerman; Francis J. Nardozza, Andrew Wharton, Paul Garity and Alina  Cauce of REH Capital Partners; and Troy Taylor and Paul Rubin of Algon Group.

The Simply Fashion Stores bankruptcy team included firm attorneys Paul Steven Singerman, Christopher Andrew Jarvinen, Paul Avron and Debi Galler.  “The achievements attained during the chapter 11 case of Simply Fashion Stores, including  distributing hundreds of thousands of dollars under the confirmed plan to hundreds of the retailer’s former, mostly urban, employees for accrued ‘paid time off’, resulted from the combination of the leadership of the company’s management prior to the filing, the practical guidance provided by the company’s Chief Restructuring Officer and other professionals during the case, and the global settlement of a dispute approved by the Bankruptcy Court that involved several creative and unique features and paved the way for confirmation of the liquidating plan,” stated Christopher Andrew Jarvinen.

“The award winners represent the best of the distressed investing and reorganization industry in 2016 and earned these honors by standing out in a group of very impressive candidates,” said David Fergusson, Co-CEO and President of The M&A Advisor. “In an environment that is increasingly demanding of its professionals we have recognized the leading transactions, firms and individuals that represent the highest levels of performance.” 

The nominations, representing over 300 participating companies, were judged by an independent jury of industry experts. 

The M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. Over the past nineteen years, the M&A Advisor has established the premier global network of M&A, Turnaround and Finance professionals, and today, the M&A Advisor has the privilege of presenting, recognizing the achievements of, and facilitating connections between the industry’s top performers throughout the world with a comprehensive range of services.