Practice/Industry Group Overview
Loeb & Loeb's Bankruptcy, Restructuring and Creditors' Rights Group represents creditors, debtors, financial institutions, committees, trustees, buyers and sellers of assets, investors and others in:
- Chapter 11 reorganization cases
- Out-of-court workouts and restructurings
- Investing in distressed assets and securities
- Asset purchases
- Creditors' rights and bankruptcy-related litigation, including pursuing and defending collection and recovery motions
- Transactional and tax advice related to bankruptcy, out of court restructurings and other creditors rights issues
- Debtor-in-possession financing
Our attorneys' experience includes all aspects of insolvency and bankruptcy law, including representation of the interests of secured and unsecured creditors, lessors and lessees, indenture trustees and equity and debt holders in complex debtors' and creditors' rights matters, pre-bankruptcy planning, reorganizations, liquidations and other bankruptcy alternatives; insolvency planning and loan workouts, including advice regarding lender liability; mortgage company insolvencies; commercial mortgage foreclosures; enforcement of notes and guarantees and realization of collateral; and litigation in bankruptcy and non-bankruptcy forums. We are frequently called upon to counsel both borrowers and lenders in restructuring complex credit relationships, from inception to the resolution of problems.
With our depth of industry experience and multi-disciplinary approach, we have the capacity to perform both transactional and adversarial work, and the expertise to craft practical solutions.
Our group includes both transactional attorneys and litigators and our clients benefit by receiving consistent counsel from one integrated team as they proceed through a complex bankruptcy, restructuring or creditors' rights matter. Working as a team, we can anticipate each aspect of the case - from beginning to end - achieving better results and more efficient representation for our clients.
We also collaborate on restructuring and bankruptcy-related matters with other Loeb & Loeb attorneys who practice in such areas as tax, banking, corporate, litigation, entertainment, real estate, securities and mergers and acquisitions to provide comprehensive service and counsel to our clients.
In recent matters, our lawyers have represented:
- Major financial institutions with respect to current developments in the "sub-prime" mortgage industry, including as lead and participant lenders, loan purchasers, creditors and claimants, in cases such as Ownit, ResMAE, American Home Mortgage, People's Choice, New Century, and others.
- Indenture trustees representing secured and unsecured debt aggregating in excess of $5 billion in a number of high-profile bankruptcy cases.
- Private Equity clients acquiring interests in and assets from distressed public and private companies.
- St. Paul Guarantee Insurance Company in connection with more than $100 million in bond exposure in telecom and construction industry bankruptcies.
- Big 4 Accounting firms on a variety of issues in numerous large Chapter 11 cases.
- Official Unsecured Creditors' Committee including All American Semiconductor Inc. and Harrows Inc.
- The largest creditor (the Pilots' Pension Fund) in the Chapter 11 proceeding of Avianca, the Colombian airline.
- The liquidating estate of Pan American World Airways.
- Merrill Lynch Private Finance in connection with the pre-bankruptcy enforcement of its creditor's rights.
- Travelers Insurance Company as a lender and as an equity participant in the Chapter 11 bankruptcy of a major apartment portfolio, as well as numerous office and commercial properties, including crafting (and confirming) reorganization plans to effectuate the workout.
- New Hampshire Insurance (AIG) in connection with $100 million loan against debtor Destination Films in a Chapter 7 bankruptcy. Collateral consisted of full-length feature films and related copyrights and scripts.
- Cedars-Sinai Medical Center, Little Company of Mary Health Services and other creditor hospitals in the Chapter 11 bankruptcies of various HMOs and other healthcare plans, including Maxicare, WattsHealth, KPC Medical Management and MedPartners.
Clients and Industries
We represent institutional lenders and investors, financial institutions, debtors, pension funds, trustees, real estate developers and other clients in cases covering a host of industries including real estate, financial services, entertainment, energy, airline, healthcare and telecommunications.
Our clients include:
- Bank of America
- Cedars-Sinai Medical Center
- City National Bank
- Credit Lyonnais
- Deutsche Bank
- GE Credit Corp.
- GE Healthcare
- Global Health Science
- JPMorgan Chase
- Laurus Funds
- Merrill Lynch
- New Hampshire Insurance (AIG)
- North Fork Bank
- Orix Capital
- Pan American World Airways
- St. Paul Guarantee Insurance
- Toronto Dominion Bank
- Travelers Insurance Company
- Wells Fargo Bank N.A.
- Wells Fargo Business Credit
- Wilmington Trust Company
- Winthrop Hospital
Leadership in Law
Members of Loeb & Loeb's bankruptcy group routinely speak to clients and Bar groups on recent developments in bankruptcy law. Our lawyers are also published authors and serve on the editorial boards for publications such as the California Bankruptcy Journal.
Practice ContactsWalter H. Curchack