Seattle, Washington, December 10, 2019 – The M&A Advisor announced the winners of the 14th Annual Turnaround Awards on Monday, December 9th. Potomac Law was named a winner for the Community-Impact Award. Pamela Egan, of Potomac’s Seattle office, helped leverage the powers of the Bankruptcy Court to convert a dilapidated residential hotel, the Empyrean, into affordable housing pursuant to a 50-year commitment with the City of Oakland, California.
“Since 2002, we have been honoring the leading turnaround transactions, companies, and dealmakers. The nominations, representing over 240 participating companies, were judged by an independent panel of industry experts. Potomac Law was chosen to receive the award. It gives us a great pleasure to recognize Potomac Law and bestow upon them our highest honor for distressed investing and reorganization firms and professionals,” said Roger Aguinaldo, Founder, The M&A Advisor. “Potomac Law is a representative of those that reached the pinnacle of the distressed investing, bankruptcy and reorganization industry for 2019 and earned these honors by standing out in a group of very impressive candidates.”
“I am proud to have used my skills as a bankruptcy lawyer to make a positive impact for the marginally homeless in Oakland. RCD, the nonprofit that has purchased the building and is renovating it, has committed to preserve the Empyrean as affordable housing for the next 50 years. RCD’s offer was indeed the highest and best offer that the estate received,” said Pamela M. Egan, lead attorney for the Official Committee of Unsecured Creditors, whose largest constituency, the tenant claimants, benefitted directly from the case.
For a complete list of winners, click HERE.