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DEWEY and JP Morgan

DEWEY and JP Morgan

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Published by: efuchs160 on Jun 13, 2012
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KRAMER LEVIN NAFTALIS & FRANKEL LLPKenneth H. EcksteinRobert T. SchmidtP. Bradley O’NeillDaniel M. Eggermann1177 Avenue of AmericasNew York, New York 10036212-715-9100
 Attorneys for JPMorgan Chase Bank, N.A., as Collateral Agent 
UNITED STATES BANKRUPTCY COURTSOUTHERN DISTRICT OF NEW YORKIn re:DEWEY & LEBOEUF LLP,Debtor.Chapter 11Case 12-12321 (MG)
STATEMENT OF JPMORGAN CHASE BANK, N.A., AS COLLATERALAGENT, IN SUPPORT OF DEBTOR’S MOTION FOR ENTRY OF A FINALORDER AUTHORIZING USE OF CASH COLLATERAL AND OTHER RELIEF
12-12321-mg Doc 83 Filed 06/11/12 Entered 06/11/12 15:48:58 Main DocumentPg 1 of 23
 
 
T
ABLE OF
C
ONTENTS
 Page
T
ABLE OF
A
UTHORITIES
................................................................................................................... iiP
RELIMINARY
S
TATEMENT
.............................................................................................................. 1A
RGUMENT
 A. The Prepetition Secured Creditors are Entitled to Adequate Protection ............................. 4B. Liens on the Avoidance Actions are Permissible and are Necessary Hereto Adequately Protect the Prepetition Secured Lenders from Diminutionin the Value of their Collateral .............................................................................................5C. Section 506(c) Waivers are Appropriate ..............................................................................8D. The Payment of Professional Fees is Warranted ...............................................................10E. The Provision Governing the Compromise of Receivables is Appropriate .......................12F. The Objections Relating to the Challenge Period and Investigation HaveBeen Addressed .................................................................................................................13G. The Objections Relating to Indemnification Should Be Overruled ...................................14H. The Former Partners Committee’s Objection Relating to the Carve-Outand Budget Should Be Overruled ......................................................................................15I. Other Objections of the Former Partners Committee Have BeenAdequately Addressed or Should Otherwise Be Overruled ..............................................16J. The Excess Cash Collateral Sweep is Appropriate ............................................................18P
RAYER
F
OR
R
ELIEF
.......................................................................................................................20
12-12321-mg Doc 83 Filed 06/11/12 Entered 06/11/12 15:48:58 Main DocumentPg 2 of 23
 
 - ii -
T
ABLE OF
A
UTHORITIES
 
Case Opinions
 
Page
 
 In re AFCO Enters., Inc.
, 35 B.R. 512 (Bankr. D. Utah 1983) ...................................................... 9
 In re Amron Techs., Inc.
, 376 B.R. 49 (Bankr. M.D. Ga. 2007) ................................................... 11
  In re AppliedTheory Corp.
,No. 02-11868, 2008 Bankr. LEXIS 1373 (Bankr. S.D.N.Y. Apr. 24, 2008) ...................... 6
 In re Carbone Cos.
, 395 B.R. 631 (Bankr. N.D. Ohio 2008) ......................................................... 5
 In re Colad Group, Inc.
, 324 B.R. 208 (Bankr. W.D.N.Y. 2005) .................................................. 9
 Hartford Fire Ins. Co. v. Norwest Bank Minn., N.A. (In re Lockwood Corp.)
,223 B.R. 170 (B.A.P. 8th Cir. 1998)................................................................................... 9
 Mann v. Chase Manhattan Mortgage Corp.
, 316 F.3d 1 (1st Cir. 2003) ..................................... 11
 In re TCI 2 Holdings, LLC 
No. 09-13654 (Bankr. D.N.J. Mar. 17, 2009), ECF No. 258 ............................................ 11
United Savs. Ass’n of Texas v. Timbers of Inwood Forest Assoc.
,
 Ltd.
,484 U.S. 365 (1988) ..................................................................................................... 11-12
Unsecured Creditors Comm. of Debtor STN Enters. v. Noyes (In re STN Enters.)
,779 F.2d 901 (2d Cir. 1985).............................................................................................. 17
Statutes
11 U.S.C. § 361 ............................................................................................................................... 511 U.S.C. § 361(1) .................................................................................................................. 10, 1211 U.S.C. § 361(2) ....................................................................................................................... 5-611 U.S.C. § 363(c), (e) .................................................................................................................... 411 U.S.C. § 506(b) ................................................................................................................... 10-1111 U.S.C. § 506(c) ..................................................................................................................... 8-1011 U.S.C. § 541 ............................................................................................................................... 611 U.S.C. § 550 ............................................................................................................................... 611 U.S.C. § 552(b) ........................................................................................................................ 17
12-12321-mg Doc 83 Filed 06/11/12 Entered 06/11/12 15:48:58 Main DocumentPg 3 of 23

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