Practice Areas & Industries: Nexsen Pruet, LLC

Practice/Industry Group Overview

A problem financial situation can be like a jungle with many potential dangers. The problems may exist for any number of reasons, including adverse economic conditions, customer defaults or other circumstances. Selecting the right counsel is key to finding your way through the situation. Our Bankruptcy and Creditors' Rights Practice Group understands the financial issues which you face and how to employ successful strategies for their resolution.

Services Available

Extensive Legal, Industry and Geographical Capabilities

Nexsen Pruet Adams Kleemeier handles the full scope of matters in bankruptcy and creditors' rights -- from the most sophisticated to the most routine and from start to finish.

The Bankruptcy and Creditors' Rights Practice Group frequently handles workouts, foreclosures, bankruptcies, receiverships and collection matters throughout the Carolinas and the United States. Our clients include:

• Institutional lenders
• Credit unions
• Bondholders
• Creditors' committees
• Business debtors
• Equipment lessors
• Guarantors
• Unsecured creditors
• Shareholders
• Special services
• Secured creditors
• Purchasers of bankruptcy assets
• Post-petition lenders
• Bankruptcy trustees
• Landlords
• Receivers
• Sureties

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. Members of this group further have an extensive range of experience handling bankruptcy, insolvency and preference litigation.

Collection

Our collection practice focuses on debt repayment plans, foreclosures, asset recoveries, and enforcement of judgments. Our attorneys are well-versed in Uniform Commercial Code matters, and mechanic's, materialman's, tax, and other lien priority disputes.

Our attorneys have handled workout, bankruptcy and collection matters involving:

• Furniture companies
• Golf courses
• Real estate entities
• Health care companies
• Boat dealerships
• Apartments
• Grocery chains
• Airlines
• Convenience stores
• Textile companies
• Steel companies
• Hospitals
• Manufactured housing
• Hotels
• Restaurants
• National retail chains
• Manufacturing companies
• Construction companies

Counseling

Lawyers in the Bankruptcy and Creditors' Rights group regularly provide on-going preventive counseling to institutional clients to assist them in implementing effective credit procedures and drafting documentation that will offer them additional protection in the event of customer default or bankruptcy.

Services Provided

• Bankruptcy Litigation
• Bankruptcy Reorganizations
• Collateral Recovery and Disposition
• Collections
• Credit Procedures
• Enforcement of Secured Creditors' Rights
• Foreclosures
• Insolvency Litigation
• Receiverships
• Tax Issues in Insolvency Proceedings
• Workouts and Forbearance Agreements

Accomplished Attorneys

Our experienced attorneys have been involved in a number of matters whose success reflects the diverse skills and specialties of our lawyers. They run the spectrum from negotiating forbearance, intercreditor and subordination agreements, providing default notices, acceleration and enforcement of loan documents against real and/or personal property in both state court and bankruptcy court on behalf of lenders, to assisting with workouts, bankruptcies and out-of-court liquidations on behalf of businesses and business owners.

Specific examples include:

• Representation of indenture trustee for $130 million of notes in steel company case
• Co-counsel for $950 million of debentures in national restaurant chain case
• Co-counsel for $500 million senior secured loan by bank group in a textile company case
• Successful non-bankruptcy workout for 100-year-old textile company
• Representation of indenture trustee for $74 million of secured notes in steel company case
• Local counsel for $174 million secured debt in 475 multi-state convenience store chain Chapter 11 case
• Representation of guarantor in non-bankruptcy workout involving $100 million of construction-related bank debt
• Receiver in various state and federal matters on behalf of creditors and the United States Securities and Exchange Commission

Our practice group includes legal professionals listed in both Best Lawyers in America and the "Legal Elite" survey of 16,000 North Carolina attorneys by Business North Carolina, as well as ABI and state bar board certified attorneys in business and consumer bankruptcy law.