Murphy & King, P.C.

Harold B Murphy

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Practice Areas

Harold Murphy leads Murphy & King’s Bankruptcy and Financial Restructuring Group, and he is considered one of the leading insolvency lawyers in New England. Mr. Murphy specializes in bankruptcy and commercial law, including the representation of debtors, creditors’ committees, trustees and creditors in Chapter 11 reorganizations and Chapter 7 liquidations. He has had considerable experience in the areas of commercial finance and litigation and matters involving secured lending, mergers and acquisitions, and the Uniform Commercial Code. Mr. Murphy has been appointed as trustee, examiner, receiver and counsel in numerous bankruptcy and non-bankruptcy corporate restructurings and liquidations.

Career

Founder and Director of Murphy & King’s Bankruptcy and Financial Restructuring Group. Admitted to practice in Commonwealth of Massachusetts; the United States District Court for the District of Massachusetts; the United States Court of Appeals for the First Circuit; and the United States Supreme Court. Best Lawyers has named Mr. Murphy Massachusetts bankruptcy "Lawyer of the Year" multiple times.

Professional Memberships

Fellow, American College of Bankruptcy; American Bankruptcy Institute; Turnaround Management Association; American, Massachusetts and Boston Bar Associations

Personal

JD, Suffolk University Law School (1981); AB, cum laude, Harvard College (1977).

Work Highlights

- TelexFree, LLC, et al. – Represent Chapter 11 Trustee of telecommunications companies which operated a multi-level marketing pyramid scheme involving as many as a million participants, which together with their affiliates, had acquired as much as $1,800,000 during their operations.

- Inspiration Biopharmaceuticals, Inc. – Represent debtor-operator of biopharmaceutical company focused principally on the treatment of hemophilia. The Debtor consummated two sales of substantially all of its assets, the total consideration of which, including royalties and milestone payments, is estimated to exceed $500 million.

- SW Boston Hotel Venture, LLC, et al. – Represented eight debtors in their Chapter 11 reorganizations in the United States Bankruptcy Court for the District of Massachusetts. The Debtors owned the W Hotel and Residences, a real estate project consisting of a luxury hotel and 122 luxury condominium units. The confirmed plan provided for the immediate sale of the Hotel and the continuing sale by the debtors of the remaining unsold condominiums over time. The case involved multiple lenders owed in excess of $170 million in debt.

- Modern Continental Construction Co., Inc. – Represented the Debtor, the single largest contractor on the so-called “big dig” construction project, in confirming a Chapter 11 plan. As of the petition date, there were fourteen open “big dig” contracts, numerous other open public works contracts, and over $1 billion in debt.

- Regional Hospital Workout – Assisted a regional hospital in successfully restructuring certain obligations. The hospital had issued new bonds to refinance existing bonds and raise funds for new construction. The interest rate for the new bonds was tied to the auction rate securities market. When the auction rate securities market collapsed, the hospital’s interest burden almost tripled. We assisted the hospital in asserting claims against the financial advisor that recommended the transaction. The resulting global settlement included among other things a favorable modification of the swap agreement, a payment to the hospital as well as the release of certain collateral that enabled the hospital to reduce and restructure its institutional debt.

- GPX International Tire Corporation – Represented the Debtor, one of the largest off-the-road, truck and specialty tire manufacturers in the United States and Canada, in confirming its Chapter 11 plan in the United States Bankruptcy Court for the District of Massachusetts.

- Fort Hill Square Associates, et al. – Represented two debtors in their Chapter 11 reorganizations in the United States Bankruptcy Court for the District of Massachusetts. The Debtors held two of Boston’s premiere office towers, One and Two International Place. Our work enabled the Debtors to confirm their plan restructuring approximately $700,000,000 of indebtedness and retaining ownership of the properties.

- Boston Regional Medical Center, Inc. – Represented the Creditors’ Committee in the shut down and subsequent liquidation of a 300 bed hospital with over $50 million in debt. Appointed as liquidating agent, Mr. Murphy oversaw liquidation of substantially all assets, commenced and prosecuted multi-million dollar lawsuits against former officers and directors of the hospital, the hospital accounts receivable lender and the failed pre-petition acquirer of hospital.

- Olympus Healthcare Group, Inc., et al. – Represented multiple debtors in the confirmed Chapter 11 reorganization in the United States Bankruptcy Court for the District of Delaware. As of the bankruptcy filing, Olympus operated nine facilities in Massachusetts and Connecticut providing acute (non-surgical), chronic, medical and rehabilitation services to over 900 patients and employed approximately 1,600 employees. Pursuant to the approved plan of reorganization, the Debtors transferred operating facilities to a third party as part of a competitive sale process.

- Ski Area Workout – Represented entities owning a regional ski area in resisting the lender’s exercise of remedies with respect to secured debt in excess of $5 million for which the principals had provided unconditional guarantees. We were able to persuade the lender to forbear and secure a purchaser for the property for $9 million.

- Caribbean Petroleum LP, et al. – Represented multiple debtors in their Chapter 11 reorganization in the United States Bankruptcy Court for the District of Delaware. The Debtors imported, stored and sold petroleum products in Puerto Rico through a retail chain of approximately 250 franchised service stations. The Debtors had a market share of approximately twenty percent of the Puerto Rican retail petroleum market and debt, on a consolidated basis of over $120 million. A plan of reorganization under which the Debtors’ shareholders retained all of their equity interests was successfully confirmed in March, 2003.

- The Ground Round, Inc. et al. – Represented multiple debtors in confirming their Chapter 11 plan in the United States Bankruptcy Court for the District of Massachusetts. The Debtors were a major restaurant chain comprised of approximately 59 corporate owned and operated restaurants and an additional 73 franchise restaurants