Practice Areas & Industries: Adams and Reese LLP

 




Commercial Restructuring / Bankruptcy Return to Practice Areas & Industries

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Practice/Industry Group Overview

When facing a bankruptcy proceeding or restructuring affecting your business, the most effective legal representation contributes knowledge of other aspects of corporate, commercial and financial law. Adams and Reese delivers this depth of experience through our diverse corporate and litigation practices.

Seasoned attorneys who are strategically located across our region bring you a responsive and flexible team with local knowledge of the courts and an ability to move your matter forward. Membership in the American Bankruptcy Institute and other international organizations over the past 25 years has helped our firm build an extensive network of other professional partners, including workout specialists, forensic accountants, valuation specialists, investment bankers and financial services consultants.

Our Attorneys

Adams and Reese attorneys shine when times are bad. The secret to our success in bankruptcy law is our ability to close deals on the transactional side when times are good. Experience in mergers and acquisitions, financing and governmental relations makes us a quick study of businesses in many industries. We look for options or opportunity in every crisis while minimizing difficulties for clients. Our work for creditors has resulted in the recovery and return of hundreds of millions of dollars.

Core Practice and Clients

Representing creditors, commercial lenders, examiners, trustees, purchasers and commercial debtors, Adams and Reese handles various bankruptcy and commercial restructuring matters, including:

Creditor Counsel and Representation: acting as lead bankruptcy counsel and/or liquidation and committee counsel to recover funds, negotiate payment terms, sell assets or facilitate workout agreements and other restructuring.

Avoidance Litigation: successful resolution of court authorized avoidance actions, pursuit of avoidance actions and fraudulent transfers.

Debtor-in-Possession Counsel: sustaining debtors through appropriate restructuring and repayment to creditors or negotiating sale of company and assets and/or financing to repay debt.

Asset Purchases: representing stalking horse bidders in acquisition of companies from debtor-in-possession.

Representative Cases:

  • Representing title insurer in multi-million dollar real estate fraud involving more than 30 liquidating bankruptcy cases.
  • Representing bond insurers in workout of $3.2 billion in defaulted municipal bonds, including receiver litigation, negotiations with multiple institutions and legislative action to augment revenues to pay bond debt.
  • Representing purchaser of a 50-store grocery chain in liquidating Chapter 11 case.
  • Representing owners of $250 million oil and gas exploration company in litigation and then a bankruptcy contest against a secured lender seeking to take over the business. The bankruptcy restructuring was completed in six months, pursuant to a reorganization plan by which all creditors were paid in full and the debt claimed due the lender was restructured.
  • Representing secured lender owed in excess of $60 million in bankruptcy of a deep marine service company.  The client’s debt is secured by two deep-water marine application vessels. The bankruptcy disputes include alleged priming liens asserted against the client’s collateral by former insiders of the debtors.
  • Representing secured lender with both real estate and floor-plan credit facilities outstanding to a new and used automobile dealership group totaling approximately $24 million in initially negotiating forbearance agreements after defaults and ultimately with regard to the out-of-bankruptcy sale of all but one of the dealerships coupled with the restructure of the indebtedness relating to the remaining dealership to return it to performing loan status.
  • Representing secured lender with both real estate and floor-plan credit facilities outstanding to a new and used automobile dealership totaling approximately $14 million in the Chapter11 filed by the borrower which was ultimately resolved though the sale of substantially all of the dealership group's assets pursuant to a 363 sale and confirmed plan.
  • Representing secured lender holding approximately $15 million first mortgage loan on marina project consisting of over 400 wet and dry slips, a commercial strip center and restaurant site in the Chapter 11 filed by the borrower initially in conjunction with enforcing the client's post petition lien rights relating to the debtor's limited use of cash collateral and ultimately in obtaining the dismissal of the Chapter 11 pursuant to 1112(b) within 60 days of the petition date so as to allow the client to proceed to obtain appointment of state court receiver.
  • Representing secured lender holding approximately $35 million first mortgage encumbering 170-resort hotel condominium units and related amenities facilities in the Chapter 11 filed by the borrower/developer which was ultimately resolved by the client acquiring the collateral through exercise of a winning $14 million 363(k) credit bid right and plan of liquidation confirmation of which was contested by a group of  investors claiming entitlement to priority over the client's first mortgage lien for the approximately $4 million provided by them to the developer pre-construction based upon alleged entitlement to the imposition of a constructive trust or alternatively an equitable lien.
  • Representing bankruptcy trustee in a fraudulent conveyance action to recover $10 million from the seller of a distribution and supply business, the purchase of which caused the bankrupt debtor’s insolvency.
  • Representing a stalking horse bidder in the successful purchase of a furniture company through the bankruptcy process in an $8 million transaction.
  • Representing a secured lender in the successful $6 million sale to a stalking horse bidder of a light manufacturing operation.
  • Representing a secured lender in completing a difficult $5 million reorganization and refinance of a small business.

Trust Adams and Reese to provide sound counsel and effective representation in both the prosperous and challenging times of your business.


 
 
Articles Authored by Lawyers at this office:

Assigned Rents Cannot Be Used to Administer Debtor’s Bankruptcy
Jacob S. Barker,Richard P. Carmody, July 25, 2013
A federal district court in Georgia recently ruled that a financial institution creditor in a Chapter 11 case had separate, distinct security interests in both the rental property on which it had accepted a mortgage and that property’s rental income by virtue of an assignment of rents from...