Bankruptcy & Restructuring

Bankruptcy and insolvency issues – whether they arise in connection with the initial documentation of a loan, the purchase or sale of assets, as a component of business or corporate restructuring or as a defensive measure to the collection of indebtedness or enforcement of remedies in defaulted credit relationships – present complex legal and practical issues requiring thoughtful, informed analysis and well-formulated strategic planning. Decisions must be made and implemented quickly to protect the interests of clients grappling with unexpected hurdles in their business plans. The current tightening of credit and shrinkage of available equity have created a fertile ground for the growth of insolvency issues in unprecedented numbers.

Maynard Nexsen’s Bankruptcy Practice handles the full scope of matters in bankruptcy – from the most sophisticated to the most routine, start to finish. Our attorneys have extensive experience in bankruptcies, defaults and similar situations, and help companies that face bankruptcies as well as creditors. Our attorneys are also well versed in collections laws and techniques and can help you recover money or other assets you are owed.

Maynard Nexsen’s Bankruptcy Group primarily represents creditors – including banks, special servicers and other secured lenders, trade creditors, judgment creditors and creditors' committees – in bankruptcy matters and workout situations. The Firm also has significant experience representing private equity funds and other distressed debt and real estate investors in loan workouts, foreclosures, receiverships, deficiency suits, and Chapter 11 bankruptcy proceedings, both with respect to traditional commercial mortgages and CMBS loans. Our attorneys also represent borrowers in debt restructurings and workouts, and debtors in complex bankruptcy and insolvency proceedings on a select basis.

Our bankruptcy practitioners have extensive experience before bankruptcy judges throughout multiple states and other national venues. Similarly, the firm represents creditors in bankruptcy proceedings and workout situations across a wide expanse of industries: single-asset real estate holdings, multifamily housing, hotels, manufacturing concerns (including addressing the interplay between environmental and bankruptcy law), hospitals, nursing homes, assisted living facilities and home health care companies (including licensure and regulatory issues), accounts receivable and inventory financing, and retail operations, among others. In any engagement, our attorneys protect the interests of our client in every aspect of the representation, whether through negotiation, documentation, litigation, or general advocacy.

Extensive Legal, Industry and Geographical Capabilities

Our bankruptcy practice involves debtor and creditor representation in Chapter 11 reorganizations, liquidations and Section 363 sales, and creditor representation in Chapters 7 and 13 bankruptcy cases. Our attorneys have an extensive range of experience handling bankruptcy, insolvency, preference litigation, workouts, foreclosures, bankruptcies, receiverships and collection matters across the country.

Our services include:

• Acceleration and enforcement of loan documents against real and/or personal property in both state court and bankruptcy court on behalf of lenders
• Assisting with workouts, bankruptcies and out-of-court liquidations on behalf of businesses and business owners
• Bankruptcy litigation
• Bankruptcy reorganizations
• Collateral recovery and disposition
• Collections
• Credit procedures
• Enforcement of secured creditors’ rights
• Foreclosures
• Insolvency litigation
• Negotiating forbearance, intercreditor and subordination agreements
• Providing default notices
• Receiverships
• Tax issues in insolvency proceedings
• Workouts and forbearance agreements

Maynard Nexsen also handles bankruptcy litigation, the filing of claims, the negotiation of post-petition financing agreements and plans of reorganization, the defense of preference and fraudulent conveyance claims, the sale of assets through Section 363 sales and plans, and the pursuit of all other avenues available to protect and preserve the creditor's rights in a bankruptcy proceeding. The Firm’s Bankruptcy Group also devotes substantial efforts to negotiating, documenting and enforcing non-bankruptcy workout arrangements and repayment plans, and interacts with other practice groups to lend bankruptcy-related expertise, as needed, to the structuring and documentation of loans, acquisitions, and other corporate transactions. Our bankruptcy practitioners routinely involve lawyers from other practice groups where such expertise is needed to protect the interests of clients.

Maynard Nexsen’s Bankruptcy Group has earned the distinction as a Leading Practice by Chambers USA: America's Leading Lawyers for Business. Our attorneys provide experienced and capable assistance to clients and offer a bridge across the turbulent waters of insolvency to a firmer and more stable financial ground.

Attorneys in our group are members of the American Bankruptcy Institute, the Commercial Law League of America, the International Women’s Insolvency & Restructuring Confederation, the Turnaround Management Association, the Risk Managers Association, the American Bar Association, including the Business Law Section and its bankruptcy-related committees.

---

For more information on our Bankruptcy & Restructuring Team, contact Suzi Grigg, Bankruptcy & Restructuring Team Leader, at 803.540.2114 or by email.

News

Insights