Alexander Gallo Holdings, LLC and 10 associated debtorsFN1 (the “Debtors”) filed voluntary petitions under Chapter 11 of the Bankruptcy Code on September 7, 2011 in the Bankruptcy Court for the Southern District of New York (Case No. 11-14220). The Honorable Allan L. Gropper has been assigned to the case. This initial note provides the Debtors’ consolidated list of their 30 largest unsecured creditors. [Update September 09, 2013 – On September 5 and September 6, 2013, Ronald J. Friedman as Liquidating Trustee of AGH Liquidating, LLC, et al. (f/k/a Alexander Gallo Holdings, LLC) commended mass adversary proceedings for recovery of avoidable transfers under Chapter 5 of the Bankruptcy Code, including preferential transfers under Section 547 (bankruptcy preferences) and fraudulent transfers under Section 548. An APScans litigation report of these proceedings can be reviewed by clicking this link.]
The Debtors' Consolidated List of Holders of Largest Unsecured Claims
The Debtors' have requested authority to file a consolidated list of the holders of the Debtors' largest unsecured claims in lieu of a separate list for each of the Debtors. The consolidated list is set forth below.
| Listed | Creditor Name | Nature of Claim | Status | Amount |
|---|---|---|---|---|
| 01 | Gallo Holdings, LLC, as Note Holder Representative* | Promissory note | $147,938,333 | |
| 02 | Winston Noteholders, LLC | Promissory note | $33,025,426 | |
| 03 | Aptara, Inc. | Trade debt | $994,960 | |
| 04 | UPS | Trade debt | $733,246 | |
| 05 | Kirkland & Ellis | Professional fees | $558,948 | |
| 06 | Atlanta Centennial, LLC | Real property lease | $530,891 | |
| 07 | One Penn Plaza LLC | Real property lease | May be subject to partial setoff | $524,699 |
| 08 | Accel-KKR Company, LLC* | Advance | $416,833 | |
| 09 | Live Nation Worldwide, Inc. | Real property lease | May be subject to partial setoff | $411,509 |
| 10 | AT&T | Utility | May be subject to partial setoff | $406,757 |
| 11 | Legal Reprographics, Inc., on behalf of itself and the Beaver Family Trust and Steven Beaver | Promissory note | $377,727 | |
| 12 | Receivable Management Services | Trade debt | $367,808 | |
| 13 | Catalyst Repository Systems, Inc. | Trade debt | $364,532 | |
| 14 | 311 West Monroe -VEF VI, LLC | Real property lease | May be subject to partial setoff | $336,485 |
| 15 | Banc of America Leasing | Equipment lease | May be subject to partial setoff | $270,000 |
| 16 | Chippewa Enterprises, Inc. | Real property lease | $196,327 | |
| 17 | Exact Software North America, Inc. | Trade debt | $193,324 | |
| 18 | GE Capital | Equipment lease | May be subject to partial setoff | $176,719 |
| 19 | Yes Video | Trade debt | $168,064 | |
| 20 | Aetna | Trade debt | $167,537 | |
| 21 | McKenna Long & Aldridge | Professional fees | $163,025 | |
| 22 | SohoFile | Trade debt | $161,541 | |
| 23 | Chamber Building L.P. | Real property lease | May be subject to partial setoff | $161,116 |
| 24 | Softchoice Corporation | Trade debt | $140,760 | |
| 25 | Network Deposition Services | Reporting Services | $131,860 | |
| 26 | Xerox Corporation | Equipment lease | May be subject to partial setoff | $130,457 |
| 27 | 523 Pacific Center Associates | Real property lease | $120,732 | |
| 28 | Bennett Thrasher PC | Professional fees | $115,047 | |
| 29 | Miller Heiman | Consulting services | $111,822 | |
| 30 | Ajilon Finance | Staffing services | $104,315 |
The list does not include: (1) persons who come within the definition of “insider”; or (2) secured creditors, unless the value of the collateral is such that the unsecured deficiency places the creditor among the holders of the largest unsecured claims.
Bankruptcy Rule 1007(d) provides that a debtor shall file “a list containing the name, address and claim of the creditors that hold the 20 largest unsecured claims, excluding insiders.” Fed. R. Bankr. P. 1007(d). In the case of a multi-debtor filing, it is likely that many creditors are shared among certain of the debtors. This is especially the case where the debtors operate as a single business enterprise. Under these circumstances and provided that there is a request for joint administration, it is common for multiple, related debtors to request authority to file a single, consolidated list of their collective largest general unsecured creditors. These requests usually are granted by the bankruptcy court.
The Top Unsecured Creditor List is never to be considered a waiver of any defense to or “allowability” of a listed claim or an admission of the amount of any listed claim. It is common for the amount of the claims to shift and sometimes a claim that is initially is undisputed is later disputed. Creditors should always consult the official claims register.
*Debtors have footnoted this creditor as follows: “The Debtors believe that this unsecured creditor may constitute an ‘insider’ of the Debtors with the meaning of 11 U.S.C. § 101(31).”
FN1Alexander Gallo Holdings, LLC; Set Depo, LLC; AG/Sanction LLC; Unlimited Languages, Inc.; The Hobart West Group, Inc.; Deponet, LLC; Esquire Deposition Services, LLC; Esquire Litigation Solutions, LLC; Esquire Solutions, LLC; Hobart West Solutions, LLC; and D-M Information Systems, Inc.