Our Bankruptcy, Restructuring and Creditors' Rights Services
Our US team of nearly 20 dedicated lawyers is located across the nation, with lawyers in Delaware, Georgia, Maryland, North Carolina, South Carolina, Texas, and Washington DC. We also have transatlantic capabilities with a strong team of lawyers located throughout the UK, and we regularly advise on cross-border and international matters.
Debtor and Company Side
When it comes to representing a company in distress, we work with management and company advisors to define a critical path from inception to closing on the desired restructuring, sale, or other resolution. Our process is flexible and involves adapting and allocating resources based on client preferences and our team members’ proven strengths and experience.
Unlike many other firms, a large number of team members are based in Wilmington, Delaware, one of the most common jurisdictions to preside over Chapter 11 bankruptcy proceedings, receiverships, assignments for the benefit of creditors, and other litigation related to underperforming companies. Our lawyers are well-known to the Delaware bankruptcy bench and bar, government officials and business leaders in the state.
Examples of work
- Numerous chapter 11 debtor representations before multiple bankruptcy courts, including serving as lead counsel for Brevity Ventures Inc., Mrs. Fields Original Cookies, and Scout Media, Inc., among others.
- Representing companies through assignment for the benefit of creditor proceedings, including ACP Insurance, Family Christian Stores, PetEdge, Inc., Picture People, and ReEquip Solutions, LLC
- Financial and operational restructurings.
- Out of court workouts with secured lenders.
- Assisting with issues in receiverships, plans of arrangement, loan forbearance and extension agreements, deeds in lieu, guaranty and foreclosure litigation, and other non-bankruptcy workouts and restructurings.
Creditor Side
Our attorneys are well-versed in recognizing and understanding clients’ business interests and risk tolerance. We represent clients in all chapters and aspects of bankruptcy filings including representation in adversary proceedings brought by or against creditors.
We represent a diverse group of secured lenders and creditors including:
- Banks and financial institutions
- Private equity groups
- Special servicers
- Individuals
- Agricultural lenders and suppliers
- Student loan lenders and servicers
- Construction companies and suppliers
- Agents and trustees
With significant experience in the restructuring arena, we are able to advise creditor clients across the full spectrum of restructuring matters, including:
- Emergency first-day hearings including protecting cash collateral interests
- Relief from stay proceedings to repossess collateral
- Representation on contested confirmation issues
- Litigation regarding secured status and valuation of collateral
- Inter-creditor agreements among competing secured creditors
- Representation in adversary proceedings brought by clients objecting to the dischargeability of debts
- Representation of creditor clients in defense of preference and fraudulent transfer litigation
- Representation of student loan lenders and servicers in adversary proceedings
- Assisting creditor clients with complex workouts, restructurings, receivership appointments, collection actions, claim and delivery proceedings, and foreclosures
- Negotiating and closing transactions that impact the creditors’ collateral, such as Section 363 sales or sales under a plan of reorganization
- Advising on “debtor in possession” and exit financing
- Representing creditor clients in lender liability actions and defense of actions brought pursuant to the Equal Credit Opportunity Act and Fair Debt Collection Practices Act
- Representing creditors in lease disputes including lease defaults and related actions
Creditors’ Committees
We work hard to create legal structures that ensure the general unsecured creditors are given a fair opportunity to share in the recovery, even in the most challenging cases. Often this effort requires careful negotiations with secured lenders, purchasers of assets, and other constituents. Because of the depth of knowledge and experience we have in this area, our lawyers often capture value for unsecured creditors that would otherwise be left to other constituents in those cases.
Our team is experienced in litigation and advocacy so we’re prepared to take action on a client’s behalf, for example when it is necessary to oppose a debtor-in-possession financing facility or sale transaction.
We also have broad experience in analyzing business decisions leading to distressed situations. Our approach helps keep the players honest – promoting value maximization for creditors and allows us to identify whether potential causes of action (including those that may be paid through insurance) are available to unsecured creditors.
Examples of work
- Represented over forty (40) official and ad hoc committees of unsecured creditors in Chapter 11 bankruptcies, both in Delaware and nationwide.
- Acted as primary counsel for the committees in several high profile cases including the Coyne International Enterprises Corp., Electroglas, Inc., and Tintri, Inc. Chapter 11 proceedings.
Cross-Border Insolvency
Our bankruptcy team routinely represents stakeholders in complex international restructuring transactions, cross-border insolvency proceedings, and related asset recovery litigation. Our bankruptcy team routinely represents stakeholders in complex international restructuring transactions, cross-border insolvency proceedings, and related asset recovery litigation. Most recently we’ve been involved in several complex, cross-border cases brought to Delaware, bolstering the depth of our international experience and our ability to find value for clients by providing efficient and commercial advice.
Examples of work
- Counsel to A. Farber & Counsel Inc. as the foreign representative of Axios Logistics Solutions Inc. and some of its affiliates in connection with Chapter 15 cases filed to effectuate a sale of assets in the United States and Canada.
- Represented the foreign representative of several distressed companies with a center of main interest outside the United States. We utilized Chapter 15 of the Bankruptcy Code to protect, and ultimately effectuate, a sale of their assets in the United States.
- Counsel to Richter Advisory Group as the foreign representative of Thane International and some of its subsidiaries in connection with Chapter 15 bankruptcy cases filed to effectuate a sale of assets in the United States and Canada.
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