Woodbridge Group announces three new additions to board of managers

By Caroline Salls

Pittsburgh, Jan. 19 – Woodbridge Group of Cos., LLC added three new members to its board of managers to direct the business and affairs of the company and its Chapter 11 restructuring efforts, according to a news release.

The managers added to the board include James M. Peck, global co-chairman of Morrison & Foerster’s business restructuring and insolvency group and a U.S. bankruptcy judge; former U.S. bankruptcy judge Robert E. Gerber; and David J. (Jan) Baker, retired partner of Latham & Watkins LLP and former global co-chairman of the firm’s restructuring, insolvency and workouts practice.

“These additions further the debtors’ commitments to independent decision making and transparency in these cases,” Marc Beilinson of Beilinson Advisory Group, and formerly the sole independent manager of Woodbridge, said in the release.

Gibson Dunn & Crutcher LLP and Young, Conaway, Stargatt & Taylor, LLP serve as legal advisers. SierraConstellation Partners LLC serves as chief restructuring officer and financial adviser, and Beilinson Advisory Group serves as independent management to the Woodbridge debtors.

Woodbridge is a Sherman Oaks, Calif.-based next generation financial products company that filed for bankruptcy on Dec. 4 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 17-12560.

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