RIVERSIDE, Calif.- May 5 – LAWFUEL – The law firm of Marshack Shulman Hodges & Bastian LLP (MSHB) today announced that the United States Bankruptcy Court in Riverside, California has entered an order confirming the bankruptcy plan of reorganization for Swiftcomm, Inc.
Swiftcomm, a privately held California corporation based in Riverside, operates a state of the art data center facility including value-added communications services. Swiftcomm filed a voluntary chapter 11 bankruptcy on May 23, 2003 as a result of financial pressures from its phone card and wireless Internet divisions. Throughout the bankruptcy process, Swiftcomm refocused its efforts on the data center operations. Swiftcomm’s plan of reorganization received overwhelming support from its creditors and it is pleased that it went from a bankruptcy filing to a successful reorganization in less than one year.
Donald Dye, Swiftcomm chief executive officer, said, “The fact that we intend to provide creditors 100 cents on the dollar is further validation that Swiftcomm has succeeded in both its financial and operational turnaround. Swiftcomm will emerge from bankruptcy as a vital enterprise focused on delivering value to our customers and investors.” Dye added that coming out of bankruptcy in less than 12 months was “a testament to the hard work of the Swiftcomm staff and Marshack Shulman Hodges & Bastian, who worked incessantly during this period of great pressure.”
About Marshack Shulman Hodges & Bastian LLP
The firm was founded in the early 1990s by Richard Marshack, now Of Counsel to the organization. By the mid to late 1990s, the firm had evolved into a full-service bankruptcy law firm whose growth rate outpaced that of the local economy. Leonard M. Shulman joined the firm in the mid ’90s to expand the firm’s bankruptcy trustee and litigation practice. Ronald S. Hodges joined the firm in 1995 and immediately contributed a depth and breadth to the firm’s emerging bankruptcy litigation department, which continues to expand today.
As the firm matured through the 1990s, new clients and partners were added, including James C. Bastian, who was named partner in 1999. Mr. Bastian specializes in a variety of insolvency and bankruptcy related matters, and successfully led trade vendors through the unprecedented County of Orange bankruptcy proceedings, in fact, recovering 100 cents on the dollar for this constituency.
Throughout the firm’s expansion, Marshack Shulman Hodges & Bastian has earned its reputation as one of the finest law firms of its kind, not only in Southern California, but throughout the region. The business community has recognized that the firm’s team is bright, vibrant, quick-thinking and able to devise solutions to severe and complex problems. Practice areas currently handled by the firm include: committee representations, trustee representation, bankruptcy litigation, including prosecution of D&O claims, business reorganizations, employment and labor law, complex personal injury, bad faith (representing the plaintiff), all in the context of a bankruptcy proceeding.
For more information regarding Marshack Shulman Hodges & Bastian LLP, please call 949.340.3400 or visit www.mshblaw.com.