Bankruptcy, Restructuring, and Creditor’s Rights

Services

Workouts and Out-of-Court Restructuring

Our transactional work in the distress area encompasses any and all stages of a transaction, beginning with the solicitation/term sheet/commitment letter phase; legal due diligence; structuring, drafting; and negotiating of the underlying transaction and documents; drafting and negotiating third-party documents through all closing and post-closing activities.

In addition to advising clients on the management and workout of troubled loans and loan restructuring, our transactional experience in both bankruptcy and non-bankruptcy contexts of distressed loans includes, but is not limited to, asset-based lending under both revolving and term loans; single and multi-borrower facilities; syndicated loans including advising the agent in these loan facilities; real estate financing and leasing; debtor in possession and exit financings; equipment loans and leases; intercreditor and subordination agreements; purchase and sale agreements, with respect to acquisition or sale of distressed assets as well as sale or acquisition of distressed loans; financing of receivership estates -- financing agreements with the receiver; security agreements; guarantees; modification agreements forbearance agreements; letter of credit arrangements; documentation for private UCC sales; settlement agreements; confidentiality/non-disclosure agreements; complex payoff letters and related releases of lender.

Collection, foreclosure and enforcement

Our attorneys have years of experience working with secured and unsecured creditors, including banks, credit unions, mortgage lenders, financing companies, special servicers, credit card companies, insurance companies and other institutions. From our offices in Arizona, Florida, Illinois, Indiana, and Wisconsin, we represent clients across the country in state and federal courts, both at the trial level and on appeal. We represent clients in the full range of traditional litigation and alternative dispute resolution proceedings, issues and remedies, including:

  • Prejudgment replevins, attachments, and garnishments.
  • UCC remedies.
  • Receiverships.
  • Judicial and non-judicial foreclosures.
  • Post-foreclosure deficiency judgments.
  • Preliminary injunctions and temporary restraining orders.
  • Fraudulent transfer claims.
  • Post-judgment enforcement, including writs of execution, garnishments, and charging orders.
  • Enforcement actions against borrowers and guarantors.

As part of a full-service firm with offices around the country, we can also draw on the legal and industry knowledge of attorneys in nearly every area of legal practice, including members of the Firm’s Financial Institutions practice.

Corporate reorganization

We have significant experience in rare, but extremely important, Chapter 9 municipal reorganizations. Notable recent reorganizations have included religious and non-profit organizations which have needed to resolve large and difficult to quantify damage exposure from very sensitive litigation.

Receivers, Estate Representatives, Committees

Our attorneys have acted as receivers, estate representatives and have served on a number of committees in significant and complex cases involving millions of dollars.

Healthcare Distress

Our attorneys have extensive depth and experience in representation of secured creditors in the healthcare industry. We have represented institutional healthcare lenders in all kinds of distress, bankruptcy, and enforcement matters throughout the country. We have developed a deep bench in the substantive healthcare industries which our clients serve, and the regulatory and legal issues which affect both our lender clients and borrowers in this area. This allows us to help our clients develop and implement sophisticated and ceative strategies for dealing with all aspects of troubled loans to healthcare providers.

  • Management and enforcement of loans secured by healthcare receivables, including Medicare/Medicaid and other government pay receivables.
  • Workout of distressed healthcare loans.
  • Deep experience with regulatory matters affecting healthcare borrowers.
  • Knowledge of and experience with the special provisions of bankruptcy law which affect healthcare providers.
  • Experience with the special features of real property foreclosure and UCC secured remedies which affect healthcare providers.
  • DIP lending to healthcare debtors in Chapter 11 bankruptcies.
  • Representation of secured creditors in bankruptcies of healthcare debtors.
  • Sales and other transfers of healthcare entities (in particular, the preservation and management of secured lender rights in such transactions.
  • Receivership proceedings involving healthcare providers.
  • All types of litigation related to loans to healthcare providers.