FINANCIAL RECOVERY-WORKOUTS

In response to the dramatically changing economic environment, the Firm’s Financial Recovery – Workout Practice Group has expanded to assist clients in dealing with the new challenges that the marketplace is presenting.

The Group regularly provides legal services to financial institutions, creditors, receivers, trustees, creditor’s committees, buyers of assets and investors.

Wherever possible, our attorneys strive to resolve debtor/creditor issues in an out-of-court workout. Experience has shown that this approach can often lead to beneficial results for our clients with considerable cost savings over the expense and risk of litigation.

Our attorneys advise clients in evaluating their assets, establishing a workout strategy, creating the workout’s legal structure and then negotiating the workout.

The Group routinely handles:

Chapter 11 reorganization proceedings

Out-of-court workouts

Chapter 7 liquidations

Proposal to lenders from borrowers wishing to restructure their debt

Assignments for the benefit of creditor proceedings

State court corporate liquidations

Risk planning analysis and management

Purchases from distressed situations

Creditor committee representation

Trustee representation

Attorneys within this practice area employ a team approach in the representation of our clients. Sophisticated real estate workout and foreclosure matters, for example, are handled by the Firm’s real estate lawyers and litigators; distressed asset purchases often involve a collaborative effort between our corporate and real estate lawyers and estate and risk planning with our estate and tax planning practices. We believe this team approach enhances the quality and comprehensive nature of the representation we provide our clients.