Heller Ehrman's restructuring and insolvency practice includes nearly 20 attorneys focused on all aspects of bankruptcy, reorganizations and debt restructurings. We have significant experience in large, complicated domestic and international insolvency proceedings. We also handle complex restructuring work with the world's biggest institutional lenders and other secured and unsecured creditors, creditor and equity committees, debtors, trustees, servicers of commercial mortgage backed securities (CMBS) loans, lessors of real and personal property, acquirers of distressed assets and businesses, state and federal court receivers, and equity holders. We take a multidisciplinary approach to debt-related problems by drawing on the resources of our bankruptcy, corporate, finance, tax, litigation and real estate practices. Our international affiliations and presence in Hong Kong, Beijing, Singapore and London have allowed us to guide clients through the often inconsistent insolvency laws around the world.
Facts About Our Practice
Our Capabilities
Creditors' Rights
We aggressively represent the interests of individual creditors as well as official and ad hoc committees of creditors in all industries, including technology, retail, steel, energy, real estate, airline and construction. We recognize that the goal of most trade creditor clients is the continuation of ongoing business relationships in addition to repayment of their debt, while the goal of bond creditors is to have their claims paid in full or assumed by a financially responsible party. We also have experience in Perishable Agricultural Commodities Act (PACA) and other agricultural trust rights.
Asset Transactions
We represent multinational corporations in the sale and purchase of assets, both tangible and intangible, by working to maximize value and minimize risk for our clients through special purpose entities and other vehicles. Our attorneys advise corporations on their actions with respect to shareholders and creditors, depending upon the solvency of the entity.
Real Estate
We handle all manner and aspects of workouts, including space leases, secured loans, management contracts and partnership relationships in distress. We have extensive experience in tax credit transaction workouts and bankruptcy proceedings. Our attorneys also assist clients in purchasing assets and claims in insolvency proceedings for investment and in protecting important rights in the proceedings.
Servicers of Securitized Mortgage Trusts
We have particular experience in the complexities of creditor-debtor workouts in the context of servicing CMBS loans. We routinely handle all aspects of such workouts, including strategic plan development, pre-workout letters, notices of default and sale, workout negotiations, lock box techniques for controlling cash, title and other pre-foreclosure work and documentation, deed-in-lieu transactions, foreclosure techniques and defenses, loan modifications, forbearance agreements and third-party loan sales and debtor discounted payoffs. We rely upon our restructuring, insolvency and litigation expertise to assist lienholders in maximizing the value of their distressed assets. In this regard, we represent servicers in state and federal court litigation, including receiverships, as well as in federal bankruptcy cases, with particular emphasis on motions to prohibit or condition use of cash collateral and motions for relief from stay, as well as on the defense of cram down plans of reorganization.
Secured Lenders and DIP Financing
The world's largest financial institutions and lending institutions retain us to accomplish work-outs and negotiate debtor-in-possession loan facilities. We focus on the breadth of the significant protections afforded to lenders and seek to add value for our clients in middle market deals as well as in deals in excess of $100 million.
Bankruptcy
Our attorneys represent national and multinational corporations as debtors in Chapter 11 reorganizations. We efficiently and effectively assist debtors in progressing through the reorganization process with a disruption to their business and in negotiating with creditors without alienating future sources of business. We prosecute and defend all types of litigation proceedings, including arbitrations and claim recovery.
Accountant Liability
We have been retained by all Big Four accounting firms in national and international bankruptcy matters that have resulted in or may result in the investigation of accounting firm practices in auditing the financial statements of certain debtors.
Peter J. Benvenutti
peter.benvenutti@hellerehrman.com
+1 (415) 772-6403