Distressed Transactions

Our Distressed Transactions team understands that our clients expect us to provide well-reasoned and innovative strategic advice to achieve their goals when tough decisions must be made with respect to the purchase, sale or restructuring of assets and liabilities for financially distressed companies in and out of bankruptcy proceedings.

In addition to representing distressed companies and creditors in litigation matters, we are regularly called upon to assist asset purchasers by negotiating terms and assuring the smooth transfer of property rights.

Working closely with senior management, skilled professionals and other decision makers, our attorneys conduct thorough needs assessments and offer innovative solutions on how to best structure or restructure commercial and financial transactions. We bring extensive experience to Chapter 11 reorganization plans and debtor-in-possession financing transactions. We are also experienced in complex cross-border insolvency matters, representing businesses and creditors in connection with Chapter 15 cases and related foreign proceedings.

Our cross-disciplinary teams are committed to achieving the best possible results for our clients no matter the circumstances. To that end, we stand by our impressive track record of maximizing asset values for buyers and sellers; restructuring debt in ways to benefit both lenders and borrowers; and successfully protecting and enforcing clients’ rights in and out of the courtroom.

For example, we represented a national commercial bank seeking to enforce its mortgage loan on a commercial retail development project in Chicago. The developers filed a Chapter 11 bankruptcy to forestall the bank’s foreclosure. After defeating the developer’s plan of reorganization, we worked with the developer to confirm a joint plan of liquidation that resulted in a successful sale of the commercial retail development.

We also recently represented a financial guaranty insurer, the largest creditor in a major hospital case in Birmingham, Alabama. In this matter, we led negotiations over a sale process, payment of claims, use of cash collateral and debtor-in-possession financing, and the structure—and ultimate confirmation—of a liquidating plan.

Finally, we facilitated the sale of some assets of a New York media company through an out-of-court restructuring program to pay off senior secured debt, while preserving the core business going forward. Although fully secured, the lender agreed to reduce its claim based on the company’s ability to satisfy certain timing milestones in connection with the asset disposition program.

Our team of real estate, banking, regulatory and litigation attorneys have the expertise necessary to help develop the right solutions for each individual client, whether they are distressed companies, financial institutions, secured creditors, unsecured creditors, asset purchasers, trustees, receivers, management, employees, landlords or tenants.

We stand poised to lead the way through financial distress, insolvency, debt restructuring, loan defaults, and the purchase or sale of assets, all the while working within the confines of bankruptcy or state laws governing the rights of interested parties. Whatever the need in the area of distressed transaction, our attorneys can develop solutions and bring the skills and resources necessary to do the job.