Bankruptcy & Creditors' Rights
Cohen & Grigsby’s Bankruptcy and Creditors’ Rights Group serves national and international clients in troubled company turnarounds, loan workouts, debt collections and commercial litigation, secured transactions, asset acquisitions, creditor protection planning, bankruptcy cases and adversary proceedings and corporate restructurings in non-bankruptcy settings. Our Group is highly regarded nationally, serving major corporations that include publicly traded Fortune 500 companies and major banks and financial institutions. We also represent middle market and smaller organizations and individuals. Our expertise in this field is broad in its range and depth:
- Secured, unsecured and subordinated creditors, including Creditors’ Committees in Chapter 11 cases
- Equity security holders and indenture trustees in bankruptcy cases and in non-bankruptcy proceedings
- Defendants in preference actions and parties in other bankruptcy or insolvency related litigation
- Parties with special rights or interests in bankruptcy cases, including reclaiming sellers, priority trade creditors, mechanic’s lien holders, administrative claimants, landlords, tenants and parties to “executory contracts” with debtors, such as franchisors or long-term suppliers
Bankruptcy Planning and Proceedings
We offer extensive expertise in bankruptcy planning and proceedings – in all the venues where our clients operate: including;
- Provide bankruptcy protection planning for businesses, banks and lending institutions
- Enhance recoveries for unsecured creditors by representing the official unsecured creditors committee or individual creditors, such as parties to executory contracts and “critical vendors”
- Represent trustees and debtors-in-possession as special litigation counsel
- Develop pragmatic strategies for dealing with financially troubled enterprises, including negotiating and structuring prepackaged Chapter 11 plans and out-of-court restructurings
- Provide advice on complicated financial transactions, including asset-based loans, leveraged buyouts and other structured financings
- Analyze prospective transactions or existing financial arrangements and suggest means of minimizing the negative consequences of any future bankruptcy
- Handle related litigation matters, such as preference and fraudulent conveyance actions, relief from automatic stay proceedings, lender liability and equitable subordination claims, and borrower fraud actions
Turnarounds and Workouts
We represent both lenders and borrowers in formulating, negotiating and documenting debt restructuring plans, debt settlements and new or negotiated financing arrangements. We also counsel clients on troubled loan recoveries and in specialized collection actions, such as replevin actions, mechanic’s lien proceedings, mortgage foreclosures and receiverships.
We are also experienced litigators and frequently handle debt collection, contract disputes, foreclosures and other litigation matters in state and federal courts throughout the country. Their diverse talent and experience makes them well suited to pursue aggressive but results oriented actions, both before and after a bankruptcy case is filed.
Troubled or insolvent companies often present unique opportunities, as well as special challenges, for asset acquisitions. We advise both buyers and sellers as to how best to structure a transaction to maximize the value, while also avoiding the pitfalls.