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Overview

During times of economic uncertainty, our bankruptcy and creditors’ rights lawyers can be a valuable resource if your legal problems involve insolvency or bankruptcy. These services not only include litigation but also assistance with reviewing and analyzing new or distressed loans, negotiating out of court workouts and forbearances, and by providing pre-bankruptcy planning where appropriate. Our lawyers help find the right business solutions for clients based on the unique facts of each case.

The majority of our clients in this area are creditors, mostly commercial enterprises. These clients include retail and manufacturing firms across a variety of industries as well as small to medium banks and financial institutions, equipment lease and finance companies and agricultural lenders.

Bankruptcy

Our bankruptcy practice is national. We have appeared on behalf of clients in nearly every state and in every chapter of the Bankruptcy Code. Our lawyers have significant experience in the bankruptcy, restructuring and insolvency process. This practice includes the representation of secured and unsecured creditors, unsecured creditors' committees, debtors, bankruptcy trustees, purchasers, investors, and other interested parties. We assist clients in reorganization and liquidation cases, as well as in out-of-court workouts and debt restructurings. We additionally appear in contested adversary proceedings.

Receiverships

A receivership can be an efficient remedy to orderly liquidate a business or recover and collect collateral. A receiver can be appointed to operate, manage and/or dispose of a debtor's business and property for the benefit of its creditors. This is often an effective resolution when a client's collateral consists of accounts receivable, perishable property or unique collateral which requires management and oversight to maximize its value. Our attorneys not only assist clients with the appointment of receivers but we also have extensive experience representing receivers. This provides us with insight on how a receivership can be used to provide clients with the best overall benefit. Our experience includes receiverships involving sales of income producing real estate such as hotels and apartments, contaminated real property, operation and management of small to medium business for the benefit of creditors, agricultural operations, the healthcare industry and other receivership proceedings to carry out or enforce judgments. Receiverships can also be a cost-effective alternative to a chapter 7 or chapter 11 bankruptcy, the wind down of a small business or the means to resolve the shareholder dispute. We can provide the right advice to determine whether a receivership is the proper remedy based on our clients' needs.

Litigation

When the economy stumbles, disputes and lawsuits usually increase. In that environment, whether you are a creditor or a debtor, you are more likely to need help prosecuting a lawsuit or defending against one. We provide the legal services you require to favorably resolve litigation and other disputes.

Our litigation services include representing creditors in insolvency proceedings, successfully prosecuting lawsuits seeking to collect large debts and favorably resolving disputes over the validity and priority of liens.

Much of our litigation practice involves representing creditors, secured and unsecured, in bankruptcy courts, receiverships and contested litigation. In many of these cases, our client wants to collect a large debt, has an ongoing relationship with a debtor or is involved in litigation (other than the bankruptcy proceeding) with the debtor.

Foreclosures

We represent creditors in foreclosures, including highly complex and contested proceedings. On behalf of our clients, we enforce both judicial and non-judicial foreclosures of security interests in a debtor’s property, both real and personal. Our services also involve counseling creditors on self-help remedies available to them under the Uniform Commercial Code. In addition, we litigate defenses and counterclaims asserted against clients by borrowers and guarantors, including defenses and counterclaims based on a theory of lender liability.

Transactions

An economic downturn breeds bankruptcies, receiverships and other insolvency proceedings. Yet it also presents an opportunity for those with money to purchase a business and business assets from bankrupt estates or through receiverships at reasonable and sometimes bargain prices. We have represented purchasers in many such acquisitions as well as receivers and bankruptcy trustees to help facilitate the sale of assets.

We have the experience and expertise required to help you plan, implement and maximize the value of these transactions. Examples include representing purchasers of assets from the following bankruptcy estates:

  • Schwinn (Colorado)
  • Stairmaster (Washington)
  • NPR, Inc. (Delaware)
  • Universal Gym (Mississippi)
  • Aloha Airlines (Hawaii)

Additional Transactional Services

We also provide the legal services clients need when a debtor becomes insolvent. These include negotiating out-of-court workouts, including collaborating with turnaround consultants. Often this requires preparation of forbearance agreements (arrangements where a creditor agrees not to exercise legal rights against the debtor so long as specified payments are made) and modifications of troubled loans. Our attorneys also routinely help reorganize the financial affairs of financially troubled individuals and entities.

Preventing Problems, Controlling Costs

If you are a creditor, the best way to control legal fees in an insolvency or bankruptcy situation is by taking preventive steps before a debtor becomes financially distressed. An important one is having us review agreements with customers and vendors before they are signed. Our attorneys can assist you with negotiating complex transactions to ensure you have the proper remedies in place. That way, you fully protect yourself if the other party defaults, becomes insolvent or files for bankruptcy. We can also counsel you on the most effective way to securitize loans in advance of an insolvency proceeding.

Experience

Experience

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