Practice Areas & Industries: Burr & Forman LLP

 




Workouts & Restructurings Return to Practice Areas & Industries

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Practice/Industry Group Overview

Burr & Forman's commitment to the changing needs of lenders and creditors is evidenced by its substantial Creditors' Rights and Bankruptcy practice.

The size of our group -- over fifty attorneys concentrating in this area of law -- makes us one of the largest bankruptcy practice groups in the region which allows individual attorneys to focus on narrow specialties. The group was recently ranked by Law360 as the thirty-sixth largest Creditors' Rights and Bankruptcy team in the United States. Based on this ranking, Burr's team is the largest in the Southeast. In 2012, 10 of our Creditors' Rights and Bankruptcy attorneys were listed as a leading practitioner in Bankruptcy/Restructuring by the highly regarded Chambers USA.

We have extensive experience in handling distressed M&A, whether in an out-of-court transaction, a state court receivership, section 363 sale under the Bankruptcy Code, under a plan of reorganization, or in a prepackaged or other enforcement transaction.  We work with a distressed company’s management and financial advisors to craft the optimal business-focused solution.  Increasingly, we also represent manufacturers who are customers of insolvent entities where the manufacturer must have immediately that unique part made by its sole source, financially distressed supplier, which is supposed to deliver the part on a just in time basis.  We are able to leverage our firm’s strength in banking to provide financial institutions with counsel in connection with DIP financings and exit financings related to distressed M&A.

We often represent stalking horse buyers and other bidders in bankruptcy 363 sales. The purchase and sale of assets and businesses has developed into a significant component of commercial bankruptcy and insolvency practice. Sellers in distress situations many times utilize a bankruptcy court sale as the best way to conduct an orderly sale process and achieve the best value for their creditors and stakeholders. Similarly, the Purchasers of distressed assets appreciate the value and protections afforded in bankruptcy court blessed asset sale.

Along with our expanding representation in creditors' rights cases, we also counsel and represent business entities experiencing financial distress. Our attorneys have substantial experience in the representation of business debtors including manufacturers, educational institutions, retailers, and health care providers in workouts and insolvency proceedings.  We also represent secured creditors, landlords, equipment lessors and vendors in a variety of distressed credit situations.  We are able to give comprehensive, timely and effective advice in helping our clients successfully deal with the complex world of bankruptcy, litigation and workout negotiations.  Members of the Creditors' Rights and Bankruptcy group concentrate on the acquisition, disposition, restructuring and development of troubled properties.  Sometimes we install receivers to manage those properties.  We also develop, negotiate, and execute reorganization strategies for all types of matters found in the asset resolution section of banks.

EXPERIENCE MATTERS

Creditor Representation
Foreclosure on failed resort real estate developments.

Creditor Representation
Bank Counsel for loan workouts, restructurings and bankruptcy filings with respect to manufacturing facilities.

Creditor Representation
Foreclosure, deficiency actions and bankruptcy cases in connection with failed real estate developments.

Financial Services
Bank counsel for various foreclosure, workout, and collections matters.

Home Health Care Acquisition Financing and Forbearance
Represented senior bank lender financing a purchase by its distressed borrower of a home healthcare equipment provider; negotiated subordination of mezzanine debt. Negotiated, documented and closed forbearance agreement, new loan to fund acquisition, and related agreements.