Richard B. Keeton

Representation of a Native owned tobacco products manufacturer within the boundaries of the Yakama Nation Reservation in chapter 11 proceedings to restructure its secured debt of over $77 million to the U.S. Alcohol and Tobacco Tax and Trade Bureau as well as over $15 million in operating liabilities to the FDA, USDA, the states of Indiana and South Carolina, and the company’s critical vendors. After a protracted discovery and plan negotiation process that dealt with numerous avoidance theories advanced by the government creditors, and related litigation, the company successfully negotiated a consensual chapter 11 plan of reorganization that pays its secured and unsecured creditors in full from net income of the reorganized debtor and periodic releases from state qualified escrow funds.

Served as co-counsel with a national corporate restructuring firm in representation of an independent board of directors of large-scale cattle ranching and farming operations in chapter 11 proceedings precipitated by a massive fraud scheme that resulted in over $240 million in damages claims against Easterday Ranches. By way of a cooperation agreement with various non-debtor parties, the debtors facilitated an orderly liquidation of substantially all of their assets through various sale processes, including many acres of farmland, substantial farm equipment, various crops, and vehicles and aircraft, yielding hundreds of millions of dollars in net sale proceeds. After protracted and difficult negotiations with their key constituencies and significant stakeholders, the debtors confirmed a joint chapter 11 plan of liquidation, which resolved myriad legal issues, including allocation of sale proceeds and corporate governance issues, and provided timely and meaningful recoveries to creditors.

Representation of the owner-operator of two budget hotels located in Tumwater, Washington in chapter 11 subchapter V (small business debtor) proceedings to restructure over $7 million in secured obligations to its senior lender and the SBA, along with operating liabilities. After navigating the company through substantial litigation, including motions to remove the debtor in possession and for relief from stay, the company successfully emerged from chapter 11 with new operational management and a confirmed plan of reorganization that paid general unsecured creditors in full, with meaningful effective date payments and other relief to its secured lenders.

Representation of Alaskan provider of group home services, in-home care, and supported living and employment services with about 250 employees in chapter 11 proceedings to restructure over $9 million in obligations to its secured lenders, various merchant credit companies, and unsecured creditors. The company successfully negotiated a chapter 11 plan of reorganization that resolved years-long litigation and numerous claims between the debtor and State of Alaska, cures and maintains its secured loan obligations and pays its unsecured creditors in full, while retaining the prepetition equity structure of the company.

Represented chapter 7 trustee in complex appeal involving an issue of first impression arising from the bankruptcy court’s order denying the trustee’s objection to the debtor’s claimed Washington homestead exemption. Richard briefed and argued appeals to the Bankruptcy Appellate Panel and Ninth Circuit Court of Appeals, resulting in published opinions from each court.

Richard Keeton regularly represents chapter 7 trustees in complex business and consumer liquidation cases involving litigation against third parties to pursue assets subject to clawback under fraudulent transfer and preference statutes, asset sales, and other contested matters.