Debtors' and Trustees' Counsel
As counsel to debtors-in-possession and trustees, our lawyers handle all aspects of commercial bankruptcy cases, from the pre-petition planning, to the initial flurry of first day filings, the arrangement of debtor-in-possession and exit financing, asset sales, and, finally, the development and consummation of a plan of reorganization.
Our clients usually carry on their day-to-day operations while they reorganize. Thus, our lawyers are adept at managing every day dealings with lenders, trade creditors, lessors, utility companies, employees, the U.S. Trustee and creditors' and equity committees. To help further ensure the continued smooth operation of their businesses, clients often call upon lawyers from Duane Morris' corporate, real estate, tax, insurance, intellectual property, ERISA and environmental practice groups.
Representative listing of Debtor/Trustee representations
Creditors' and Equity Holders' Counsel
Claimants and interest holders of all types, including official committees of unsecured creditors or equity holders, lenders, private investment companies, lessors, licensors, and other individual creditors or equity holders rely on the firm to advance their interests. Throughout the bankruptcy process, clients receive a constant flow of information, giving them the knowledge necessary to make decisions. Indeed, Duane Morris lawyers established the much imitated weekly lending group report in an early case, giving all participants in the group, regardless of the size of their positions, complete information about the status and developments in the case.
Representative listing of Committee representations
Whether representing debtors or lenders, our lawyers are skilled at effectively negotiating, documenting and obtaining court approval of the financing agreements necessary to maintain the debtor's operations during a chapter 11 case or to consummate a plan of reorganization and exit chapter 11.
Section 363 Assets Sales
Investment companies and other operating businesses often seek to acquire the assets of a bankrupt company. The firm regularly advises clients interested in purchasing or investing in distressed and insolvent businesses on the risks and potential rewards involved. In addition to assisting with due diligence, negotiations and the preparation of the transaction documentation, we guide these clients through the bankruptcy court bidding and sale process.
Plans of Reorganization
Duane Morris lawyers have extensive experience in formulating restructuring or liquidation plans through negotiation, related transaction documentation and, if necessary, litigation. In addition, over the years, our lawyers have developed the particularized skills necessary to successfully confirm "pre-packaged" or "fast-track" plans. In fact, in 1986, Duane Morris lawyers achieved one of the first chapter 11 expedited plan confirmations for a publicly held company, taking National Railway Utilization Corporation through chapter 11 in Columbia, South Carolina, in 45 days from petition filing through plan consummation, even though creditors and shareholders had not approved the plan at the time the petition was filed.
Because the restructuring process is inherently contentious, with diverse constituencies competing over limited assets or distributions, clients benefit from the firm's substantial litigation experience before the United States Bankruptcy Courts. Whether prosecuting or defending claims, we advise each client on the risks and likelihood of success with each course of action and then team with each one to determine the best litigation strategy.
Cross-Border and Chapter 15 Cases
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 added a new chapter (Chapter 15) to the United States Bankruptcy Code specifically dealing with cross-border insolvency cases. Chapter 15 incorporates UNCITRAL's Model Law on Cross-Border Insolvency and is designed to address cases where an insolvent debtor has assets and/or creditors in more than one country. Our lawyers currently represent a number of parties-in-interest with respect to ancillary or cross-border cases filed under Chapter 15 of the Bankruptcy Code.
Bankruptcy Case Representations
|A.S.K. Plastics Inc.||Integrated Disability Res., Inc.||Palomar Mtn. Spr. Water Co.|
|Adelphia Comm. Corp.||Interstate Bakeries Corp.||Protarga, Inc.|
|Allied Holdings, Inc.||JRA 222 Inc.||Railworks Corp.|
|Allserve Systems Corp.||Kuecker Equipment Co., Inc.||Refco, Inc., et al.|
|AstroPower ||Loewen Grp Intl, Inc.||Reliance Grp. Holdings Inc.|
|Birmingham Steel Corp.||Lotz Designers||Solutia Inc.|
|Carmike Cinemas, Inc.||Medex Regional Lab., LLC||Souders Mini Mrkt, Inc.|
|Chevy's, Inc.||Merchant Land Fund I LLC||St. Vincents Cath. Med. Cntr.|
|Converse, Inc.||Mondo Inc.||Steele, Jamila H.|
|Delphi Corp.||MRY Corp.||Stone & Webster, Inc.|
|Delta Air Lines, Inc.||MUMA Services Inc.||THCR/LP Corp.|
|Enron Corp.||Napster, Inc.||Transworld Airlines, Inc.|
|Federal-Mogul Global, Inc.||Nellson Nutraceutical, Inc.||Troll Comm., LLC|
|Field Hotel Assoc., L.P.||Neodyme Technologies Corp.||US Airways|
|Foamex Intl., Inc.||New Better Food Distrib., Inc||Vincent J. Smith, et al.|
|Front Line Capital Grp. Inc.||New Weathervane Ret. Corp.||Winn Dixie Stores, Inc.|
|Fruit of the Loom, Inc.||Nobex Corp.||Winstar Comm., Inc.|
|GT Brands Holdings, LLC||North Amer. Bushman, Inc.||Pocono Springs Motor Lodge|
|Hatteras Reinsurance Ltd.||North Amer. Refractories Co.|| |
|Heilig-Meyers Co.||Oakwood Living Centers|| |
|Atlantic Gulf Comm., Inc.||Home Life Medical, Inc.||The Langston Corp.|
|Borden Chemicals||Kiwi Intl Airlines||Tower Air, Inc. |
|CareMatrix Corp.||Kuala Healthcare, Inc.||United Petroleum Grp, Inc.|
|Caribbean Petroleum LP||Lids Corp.||Universal Access|
|Digital Broadband Comm, Inc.||Martha's Vineyard Hosp.||Video Update, Inc.|
|Durango Georgia Paper Co.||Med Diversified, Inc.||Vitts Networks, Inc.|
|Fitness Innov. & Tech., Inc.||Oakwood Living Cntrs||Wash Depot Holdings, Inc.|
|Highlands Ins. Grp., Inc.||Olympus Healthcare Grp, Inc.||Zeta Consumer Prod, Inc.|
|Aviation Compos. Svcs, Inc.||Grand Court Lifestyles||Trico Steel Company, LLC|
|Budget Grp., Inc.||Harvard Industries, Inc.||United Companies Fin. Corp.|
|Deliland Foods Corp.||Jersey City Medical Cntr.||USG Corp.|
|Edwards Paper Co.||Neuromedical Systems, Inc.||VF Brands, Inc.|
|Enamelon, Inc.||Phoenix Steel Corp.||W.R. Grace & Co.|
|Flooring America ||Sudbury, Inc.|| |
|GEO Specialty Chem., Inc.||The Oxford Finance Co., Inc.|| |
For More Information
For more information, please contact Rudolph J. Di Massa, Jr. or any of the practice members referenced in the Attorney Listing.