Restructuring, Bankruptcy & Workout
Our clients rely on our cost-effective, practical business solutions for the complex issues that arise in Chapter 11 and other insolvency cases. We bring added value to clients with our interdisciplinary approach and understanding of how complex transactions and the underlying structure can be attacked, defended or restructured to the benefit of our clients.
Our restructuring, bankruptcy and workout team has a long history of substantial engagements in the region’s largest bankruptcy and insolvency proceedings. We are supported by attorneys in other practices with expertise in key areas of law involved in major disputes arising in Chapter 11 cases, including labor and employment, pension law, environmental law, tax, real estate, mergers and acquisitions and complex litigation.
We have represented a range of clients in diverse industries such as manufacturing, technology, utilities, telecommunications, healthcare and real estate developers in complex Chapter 11 and other insolvency cases.
How we can help
- Corporate restructuring
- Insolvency proceedings
- Sale or acquisition of troubled companies/divisions
- Asset sales
- Valuation disputes
- Subordination actions
- Preference actions
- Fraudulent conveyance actions
- Tort and environmental actions
- Corporate governance issues
- ERISA and employment issues involving pension plans and retention plans
- Loan restructuring and workouts, foreclosures and secured-party sales
- Secured creditor representation in bankruptcy
- Debtor-in-possession financing
Who we help
- Creditors’ committees
- Secured and unsecured lenders and DIP lenders
- Bank syndicates
- Boards of Directors and director committees
- Equity holder committees
- Liquidating trusts
- Trustees and other fiduciaries
Helping a client through a difficult financial strait
A client in the transportation field experienced financial difficulty. After efforts to sell the company failed, we represented the company in its bankruptcy case and successfully negotiated a resolution of several critical issues protecting the company’s officers and board members from liability, including claims by the taxing authorities for unpaid taxes, and claims asserted by vendors threatening to sue the company’s officers.
A difficult case on behalf of a creditor
Our client was a regional bank that had provided a loan to a condominium developer who subsequently filed for bankruptcy. The borrower asserted various lender liability claims against the bank. While that suit was pending, the bank moved to lift the automatic stay in the bankruptcy court and, due to success on an important issue at trial, was able to negotiate a settlement agreement that included a release of all claims against the bank. This was an example of trying the case well and advising the client of the leverage it had obtained to negotiate a favorable agreement that released all claims against it.
Helping a bank client-creditor
A regional bank in New England and the Mid-Atlantic turned to us for help collecting a multi-million dollar construction loan on an incomplete condo project that involved extensive litigation in the bankruptcy court. The client realized the return of all of its principal and interest and costs.