Eversheds Sutherland Advises Creditors Committee in US Magnesium Chapter 11 Liquidation Plan | Client News

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Eversheds Sutherland Advises Official Committee of Unsecured Creditors as Plan Proponent for Court-Approved Chapter 11 Liquidation Plan for US Magnesium

June 18, 2026

United States
United States
United States
The Eversheds Sutherland Restructuring & Insolvency team, as counsel to the Official Committee of Unsecured Creditors in the ch. 11 case of US Magnesium – formerly the largest producer of magnesium in the US – is pleased to announce that U.S. Bankruptcy Judge Brendan L. Shannon has agreed to confirm the unsecured creditors' committee's plan, which will appoint both a liquidation trustee and a separate manager to oversee the liquidation of certain estate assets.
The plan confirmation follows a win earlier this year for the unsecured creditors: the closing of a highly successful $30 million sale of the Debtor’s unencumbered assets to the Utah Division of Forestry, Fire, and State Lands, which materially increased expected recoveries for unsecured creditors.
 
Earlier this year, the unsecured creditors' committee also secured Court approval of a hard-fought multi-party settlement driven by the Committee that resolves certain lien challenges and provides for liquidation of valuable estate assets—a settlement that provides significant additional value for unsecured creditors.
 
The Eversheds Sutherland team is led by Partner Todd Meyers and Counsel Dahni Barav-Johnson, and includes Counsel John Ramirez, Lynn Holbert, Becky Gelfand and Associates Andrew Polansky, Sameer Alifarag, Nader Abou Mrad and Zachary Sipala. Cole Schotz PC is also counsel to the official committee of unsecured creditors.
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