Business Restructuring & Insolvency 2021 Annual Review

We represented JP Morgan Chase Bank (“Chase Bank”) as the largest secured lender in the chapter 11 cases of Professional Financial Investors, Inc. (“PFI”) in the U.S. Bankruptcy Court for the Northern District of California. Prior to PFI’s bankruptcy filing, PFI engaged in a massive real estate Ponzi scheme in the Bay Area that defrauded investors of hundreds of millions of dollars. Chase Bank asserted a prepetition secured claim against PFI that exceeded $75 million, and Chase Bank received a full recovery under the confirmed chapter 11 plan of reorganization after PFI’s portfolio of real estate was sold to Hamilton Zanze & Co. J.P. Morgan Chase Bank MORRISON & FOERSTER | BRIG 2021 ANNUAL REVIEW 15 14 MORRISON & FOERSTER | BRIG 2021 ANNUAL REVIEW