Skip to main content

News

Apr 2010
01
April 01, 2010

Warner Norcross Receives National Award For Successful Turnaround

The Bankruptcy Practice Group of Warner Norcross & Judd LLP was recently honored with a national award for its role in the successful business reorganization and sale of the Double JJ Resort, home of the Rothbury Music Festival.

Warner partners Stephen B. Grow and Robert H. Skilton, who led a team of attorneys representing the sellers of the Double JJ Resort, received M&A Advisor's Turnaround Award as the top real estate transaction of 2009.

Other members of the deal team sharing the honor included turnaround management firm O'Keefe & Associates and attorney Steve Rayman from Rayman & Stone. The award was presented at the 4th Annual Distressed Investing Conference and Turnaround Awards Gala, which was held recently in Palm Beach, Fla.

"We are very pleased to be recognized for our role in the reorganization of the Double JJ," Grow said. "Our team worked very hard to preserve the resort and market the property in one of the toughest real estate markets we have experienced in decades."

The Double JJ Ranch opened its doors in 1937 as a family resort. It was sold in 1998, and its new owners began an expansion project, adding a conference center and hotel rooms, golf course, water park and other amenities. A decade later, the resort played host to the Rothbury Music Festival, which became an overnight sensation, attracting the likes of Bob Dylan, The Dead, Willie Nelson and other music notables.

The property went into Chapter 11 in the summer of 2008. It was purchased in June 2009 by Progressive Resorts LLC, which has announced its intention to start a multi-year capital improvement campaign to upgrade and refurbish existing facilities and expand the resort. While the Rothbury Music Festival is on hiatus this summer, organizers have announced their intention to host the event in the summer of 2011.

Warner Norcross has an active and extensive practice in bankruptcy and creditors' rights. The firm's attorneys regularly represent secured creditors, debtors, creditors' committees and trustees in Chapter 11 and Chapter 7 proceedings, loan workouts, receiverships and other insolvency proceedings.

"It is an honor to recognize the achievements of Warner Norcross in the Double JJ transaction," said Roger Aguinaldo, CEO of "The M&A Advisor." "During a challenging period, they have been able to restructure and rebuild, setting an industry standard for their influential deals in the industry."

* * * 

About Warner Norcross & Judd

Warner Norcross & Judd LLP is one of the leading law firms in Michigan and one of the top 200 in the nation. With nearly 220 attorneys in Grand Rapids, Southfield, Sterling Heights, Lansing, Holland and Muskegon, Warner Norcross is a full-service provider of legal services. Nearly half of our partners are listed in the 2010 edition of The Best Lawyers in America. Warner Norcross has been recognized as a national leader in client service among law firms by BTI Consulting, as one of the nation's leading employment law firms by Workforce Management, as one of the 101 Best & Brightest Companies to Work For in both West Michigan and Metro Detroit and as one of the Best Michigan Businesses by Corp! Magazine. The Firm represents local, statewide, regional, national and international clients in all areas of business and civil law.

NOTICE. Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you.

By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you.

Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.

ACCEPTCANCEL

Text

+ -

Reset