Bankruptcy & Financial Restructuring
BANKRUPTCY & FINANCIAL RESTRUCTURING
We protect and preserve value for companies in distress, protect creditor interests and uncover investment opportunities involving troubled assets — all with a vigilant focus on future growth.
Corporate bankruptcy has evolved.
In the new economy, fewer businesses in distress are charting a course of traditional reorganization. Companies are taking advantage of cheaper access to capital and pursuing refinancings, restructurings, sales and acquisitions. We help them or their creditor constituencies explore options such as fast-paced Section 363 bankruptcy sales and other distressed investment strategies.
Our focus on industry nuances is a significant advantage. Financial restructuring solutions aren’t one-size fits all and are shaped by market and regulatory forces. We know the dynamics and players unique to a variety of industries—from real estate and financial services, to health care and manufacturing, to infrastructure and beyond. In all instances, our goal is to protect existing assets and unlock new value.
Our team is always focused on being high-level business counselors as well as legal advisors. We address operational inefficiencies, facilitate balance sheet restructuring, advance turnaround plans, draft agreements that guard against future risk and (when necessary) wind down and liquidate.
We help our clients focus on the future by taking a strategic approach to:
- Asset protection
- Reorganization planning
- Debt restructuring
- Investor recoveries
- Asset acquisitions and sales
- Pre-bankruptcy counseling
- Loan workouts and forbearance agreements
- Asserting creditors’ rights in insolvency proceedings
- Collateral liquidation
- Real estate foreclosure modification and workouts
- Avoidance litigation, including preference and fraudulent transfer actions
Who we work with
- Secured and unsecured lenders
- Buyers and sellers of distressed businesses
- Investors including private equity and hedge funds
- Indenture trustees, domestic and off-shore collateral managers, administrative agents, and issuers
- Creditor committees
- Equity holders and equity committees
- Company management
- Equipment lessors
- Non-debtor contract parties
- Subordinated debt holders
- Claim acquirers
Represented Connecticut-based, nonprofit health care system, Lawrence & Memorial Corporation, on its acquisition of the assets of Rhode Island's The Westerly Hospital
Represented Connecticut-based, nonprofit health care system, Lawrence & Memorial Corporation, on its acquisition of the assets of Rhode Island’s The Westerly Hospital and certain affiliated companies. This transaction was recognized in 2014 as “Healthcare/Life Sciences Deal of the Year” by M&A Advisor.
- In Post-Detroit Bankruptcy Era, California Protects Investors Before Pensioners
Governing Magazine | July 30, 2015
New York City Bankruptcy partner Robert Christmas provides third-party commentary about the impact of Detroit’s bankruptcy and the effect on future bankruptcy cases.
- Illinois Republicans' New Chapter 9 Bill Deemed ‘Bondholder Friendly'
Debtwire | June 16, 2015
Bankruptcy & Financial Restructuring partner Mark Berman discusses a new municipal bankruptcy bill which would provide a statutory lien for general obligation bondholders at the municipal level.
- Chicago dives into municipal market with split ratings and opinions
Debtwire | May 26, 2015
This article discusses how the pricing of $600+ in general obligation bonds will test market confidence in the City of Chicago. Bankruptcy & Financial Restructuring partner Mark Berman provides commentary.