Creditors’ Rights, Workouts + Bankruptcy
Providing innovative and insightful solutions, with dedication and hard work, to help clients overcome challenges and achieve their objectives.
Overview
serving every stakeholder in the bankruptcy and debt restructuring arenas
Buckley King has successfully helped business debtors in financial difficulty, including guiding them through Chapter 11 reorganizations. Every day, we work with banks and other lenders, equipment financiers and lessors, and commercial landlords in the workout and restructuring of their assets, whether negotiating and preparing forbearance or other restructuring agreements, or selling entire non-performing commercial loan portfolios. We also work with potential acquirers of distressed businesses and properties in structuring and financing those transactions. Working collaboratively with all parties involved, we achieve favorable results and reorganizations in and out of bankruptcy.
resolving disputes in bankruptcy litigation
Our comprehensive knowledge in bankruptcy law proves advantageous to clients seeking to efficiently resolve disputes involving financially distressed companies. Skilled in all aspects of bankruptcy litigation, we represent lenders, official creditors’ committees, indenture trustees, equity security holders, bankruptcy trustees, receivers and prospective buyers and investors in all aspects of bankruptcy litigation, including:
- Avoidance Actions
- Breach of Fiduciary Duty
- Claims for Statutory or Equitable Subordination
- Enforcement of Rights and Collection and/or Protection of Assets in Bankruptcies or Restructurings
- Foreclosure Actions
- Fraudulent Transfers
- Preferential Transfers
- Recovery of Assets
Experience
- In mammoth bankruptcy of a defunct leasing company involving dozens of lender banks and surety companies owed over $500 million, on behalf of a multi-national bank, spearheaded negotiation and preparation of a global settlement agreement resolving substantially all conflicting claims among the affected parties in the bankruptcy, and maximized lender’s recoveries from the bankruptcy estate.
- Represented creditors’ committee in Chapter 11, convincing mezzanine lender to waive its claim to avoid litigation, resulting in a recovery to unsecured creditors.
- Represented bank in its $30 million claim against airport security firm in Chapter 11, obtaining 100% recovery of its loan.
- When an impasse occurred with lender, navigated the client through a hotly-contested bankruptcy reorganization, convincing the court to approve our client’s use of the lender’s cash collateral, and ultimately confirming a Chapter 11 plan under which our client’s business was sold as a going concern, maximizing recoveries for creditors, preserving all of its employees’ jobs and enabling the business to continue.
- Represented hotel chain in bankruptcy, successfully reaching confirmation of a reorganization plan over the objection of many creditors, which resulted in a significant pay-out to unsecured creditors and the company continuing operations on a reduced scale.
- Represented seller of real estate and mortgage holder against a Chapter 11 debtor, successfully working to confirm a plan of reorganization providing for significant covenants which were breached by the debtor, resulting in seller reacquiring the real estate with a significant tenant in place.
- In the involuntary Chapter 7 bankruptcy of a national law firm, successfully recovered full payment for bank group on their multi-million dollar secured claims, and defended a lien avoidance lawsuit by the bankruptcy trustee, enabling the banks to keep all funds received before and during the bankruptcy.
- Enabled national bank and its participant lender to recover a debt from a continuing care retirement community (CCRC), devising a strategy for a state court receiver to operate the CCRC and then obtained court approval of a procedure for the receiver to sell the CCRC “free and clear of liens” as a going concern, eliminating all subordinate liens and recovering over $20 million.
- After replacing a national law firm, obtained judgment in favor of a regional bank and its mezzanine lender affiliate against a debtor/customer seeking $4.5 million in damages for alleged fraud, breach of fiduciary duty, civil conspiracy and lender liability claims, and then successfully defended that ruling on appeal, totally vindicating both clients.
*This comment was collected as part of the U.S.News-Best Lawyers “Best Law Firms” research process.
