Business Restructuring & Insolvency 2021 Annual Review

We represent a Related Companies’ investment vehicle that owns approximately $250 million of secured mezzanine debt of Great Value Storage, the owner and operator of 64 self-storage facilities across the United States. We have successfully litigated against the Company’s equity owner on a number of different fronts in efforts to enforce and collect upon the debt. First, we defeated the equity-owner’s attempt to enjoin a state court foreclosure of our collateral. Second, we obtained dismissal as a bad-faith filing of a bankruptcy filing by the Company in Delaware Bankruptcy Court. Third, in a second bankruptcy filing in the Northern District of Texas, our motion to appoint a trustee led to a change in the management of the Company that removed the equity-owner from all management control. We continue to represent the joint venture in the second bankruptcy matter as the assets are being marketed to be sold pursuant to Section 363 of the Bankruptcy Code. Great Value Storage MORRISON & FOERSTER | BRIG 2021 ANNUAL REVIEW 19 18 MORRISON & FOERSTER | BRIG 2021 ANNUAL REVIEW