Bankruptcy & Creditor Rights

Automobile Dealer Bankruptcies

• Regularly counsel automobile manufacturers and importers with respect to dealers that have filed for bankruptcy. These situations often involve sales of dealerships.

Bank Holding Companies

• Represent bank holding companies in Chapter 11 reorganizations to resolve trust preferred securities (“TRuPS”) and subordinated debt obligations. We also have represented prospective purchasers of a bank holding company’s subsidiary bank in sales conducted under Section 363 of the Bankruptcy Code. As these situations require extensive bank regulatory knowledge and experience and present complicated tax issues, we work closely with members of the Firm’s Financial Institutions and Tax & Business Planning Groups in developing and executing a plan to obtain timely regulatory approval of a bank sale and the preservation of a bank’s tax assets.

Bankruptcy Litigation

• Have defended hundreds of preference, fraudulent transfer, and turnover actions brought by debtors and trustees.

Corporate Restructurings & Insolvencies

Presently represent both agents and participants in workouts of +$100 million credit facilities, including facilities secured by aircraft, equity interests in banks, office buildings, and partially developed residential projects.

Lender Liability

• In 2006-2009, represented two banks in separate cases brought by bankruptcy trustees asserting lender liability and deepening insolvency theories of liability. Succeeded in obtaining dismissal of the deepening insolvency claims and settled other claims for an exchange of releases.

Retailer Bankruptcy Issues

• Regularly counsel national retailers on consequences of landlord or supplier bankruptcy.

SEC Receivership

• Presently represent an SEC-appointed receiver of a registered investment adviser in a case involving the embezzlement by a principal of the adviser of over $50 million of client assets. The case has involved the unwinding of investment partnerships and the litigation over the legality of general partner fee structures under partnership law and ERISA.

Suppliers/Service Providers to Bankrupt Companies

• Regularly counsel suppliers and service providers to bankrupt companies on reclamation, Section 503(b)(9) claims, post-petition business, and claims selling issues.