- Groom Energy Solutions, LLC
- Merger with an affiliate of DK Energy U.S., LLC, a subsidiary of The EDF Group of France
- RKW SE
- Purchase of capital stock of Danafilms from founder and ESOP
- OceanServer Technology, Inc.
- Acquisition by L3 Technologies (NYSE:LLL)
Bankruptcy, Workout and Business Reorganization
Bankruptcy, receiverships and other legal mechanisms are frequently employed by businesses to effect a reorganization, liquidation or going concern sale. Financially distressed businesses, their creditors and other interested third-parties require legal representation to assist them in formulating and implementing strategies to protect their interests and otherwise to advance their objectives based on established legal principles and good business sense.The firm maintains a diverse and sophisticated bankruptcy and workout practice that cuts across numerous industries, roles and legal settings.
Chapters 11 and 7 (reorganization and liquidation)
The firm’s practice encompasses substantial experience in Chapter 11 reorganizations. We represent debtors in possession, trustees, creditors committees, secured and unsecured creditors, DIP lenders, landlords, purchasers of assets and equity holders. We also represent both debtors and creditors in business-related Chapter 7 liquidations.
Under the right circumstances, state court receiverships provide a less expensive and more effective alternative to bankruptcy. Members of the firm have been involved in nearly all aspects of state court receiverships, including representing receivers, petitioning for appointment of receivers and defending against such petitions.
Out-of-court loan workouts and restructurings are generally preferable to bankruptcy and other court or administrative tribunals. They provide greater flexibility, are less costly and are generally more predictable. Their success, however, depends entirely on the outcome of a voluntary negotiation. The firm has substantial experience in conducting complex workouts, with several attorneys possessing the depth of legal skills over a broad spectrum of legal areas to achieve our clients’ objectives in negotiation.
Diversity of industries
The firm’s practice in business reorganization and liquidation cuts across a wide diversity of industries, including real estate, health care, manufacturing, transportation, technology and other service industries.
- Chapter 11 counsel in successful liquidating plan of reorganization of seven affiliated debtors owning four nursing homes valued at $50 million.
- Chapter 11 counsel to largest landlord in New England in which over $675 million of debt was restructured.
- Counsel to state court receiver in real estate fraud case in which 17 real properties aggregating $3 million in value were successfully recovered for the benefit of the receivership estate and its creditors.
- Represented the Bondholders Committee in the successful Choate-Symmes Hospital Chapter 11 reorganization, involving the closing of one hospital, sale of another facility, and negotiation of the terms of the issuance of replacement bonds to bondholders at $8 million more than initially offered by the debtor.
- Represented an apparel manufacturer in a successful Chapter 11 reorganization involving restructuring and subordinated debt, pension withdrawal issues, union claims, the hiring of new management, debtor in possession financing and post confirmation financing.
- Represented a group of affiliated partners in the successful negotiation and sale of their assets to a subordinated lender, to avoid foreclosure by the senior lender. The sale accomplished relief from all indebtedness and cash payments to the owners.