OVERVIEW

Our Financial Restructuring and Bankruptcy Group helps financial institutions, unsecured creditors, businesses and investors navigate the challenges and opportunities that arise out of the ebbs and flows of the credit and real estate markets. Our experience with a variety of complex, high-stress workout situations allows us to provide timely legal and business guidance, as well as market insight, to clients seeking to restructure, foreclose, liquidate, sell, buy or workout distressed loans and the underlying collateral. Our lawyers have the unique experience of representing both debtors and creditors, providing us with deep understanding of the priorities and motivations of opposing parties and the industry at large. We rely on these collective skills to deliver practical and creative solutions.

We provide financial restructuring, bankruptcy-related services, and asset recovery to secured lenders/creditors, unsecured trade creditors, distressed businesses, trustees, insurers, property receivers and lessors. Members of the group have received bankruptcy trustee appointments, including under Chapter 11 and Subchapter V.

Our group has extensive experience in all aspects of:

  • bankruptcy-related proceedings and litigation
  • Liquidations
  • loan enforcement actions
  • credit workouts/restructurings
  • receivership proceedings
  • the sale and purchase of distressed loans or businesses
  • borrower liquidations.

Our lawyers serve in leadership roles in organizations addressing industry issues such as the Turnaround Management Association (TMA), the International Women's Insolvency and Restructuring Confederation (IWIRC) and the American Bankruptcy Institute (ABI). Our team also is involved with development and execution of events such as the Eastern District of Pennsylvania Bankruptcy Conference and the IWIRC Leadership Summit.

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Representative Matters

  • Appointed Chapter 11 Trustee by the Bankruptcy Court for the Southern District of New York, successfully closing a Chapter 11 bankruptcy sale and removal of a shareholder of a defaulted borrower from a New York City property
  • Represented the Committee of Unsecured Creditors, Phoenix Payment Systems, Inc., U.S. Bankruptcy Court, District of Delaware, 2014
  • Represented senior mezzanine lender group in stopping the foreclosure of the senior mortgage and the subsequent sale of the group’s $300 million debt position in the capital structure that financed the $5.4 billion acquisition by Tishman Speyer and Blackrock Realty of Stuyvesant Town – Peter Cooper Village, an 80-acre apartment complex located in the Lower East side of Manhattan
  • Represented a large commercial lender in liquidating its defaulted multi-family real estate portfolio through foreclosure, note sales and deed-in-lieu transactions
  • Represented Chapter 11 debtor which sold substantially all its assets to its secured creditor who is also an owner of the debtor with a small carve-out provision for unsecured creditors and administrative expenses
  • Served as Delaware counsel for the administrative agent on a $325 million revolving credit facility for the debtors in the WCI Communities, Inc. Chapter 11 bankruptcy, and the pre-petition lender in connection with its $75 million term loan with the WCI debtors
  • Represented a computer-based simulation training company as debtor in Chapter 11 proceedings in Eastern District of Pennsylvania; successfully transferred venue of breach of contract litigation from Connecticut to Bankruptcy Court, extended automatic stay protection to debtor’s principal and rejected burdensome office space lease
  • Represented investment funds in multi-party, multi-tranche workout and liquidation relating to $5 billion of class “A” office properties
  • Represented the trustee in the formation of a litigation trust to prosecute and distribute the proceeds of malpractice litigation arising from a failed Gulf-Coast condominium project

NEWS & RESOURCES

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