Distressed Assets

Instability in the capital markets has created opportunities, as well as risk and loss. Across a wide range of industries and businesses, the sudden shift in market values has exposed thousands of companies to the risks of investigation, litigation and bankruptcy. 

On the other hand, for investors with the vision and resources to capitalize on this reversal of fortunes, buying distressed assets has become an attractive strategy, while the sale of assets by financially strapped businesses can often be an effective workout strategy. Day Pitney assists clients in maximizing both their buying and selling strategies.

Day Pitney's Distressed Assets practice group is a multidisciplinary team that offers both strategic and practical advice in sophisticated insolvencies, bankruptcies, receiverships, reorganizations, restructurings, workouts and liquidations. Clients dealing with the renegotiation and restructuring of distressed debt and securities have access to the full range of our services, including counseling, transactions and litigation, provided by an integrated team of lawyers with experience in:

  • Bankruptcy and Creditors' Rights
  • Financial Services Regulation
  • Governmental Investigations
  • Institutional Finance and Structured Finance
  • Intellectual Property
  • Mergers and Acquisitions
  • Private Equity and Hedge Funds
  • Securities Law and Securities Litigation
  • Tax Issues and Debt Restructuring

Our experience extends to a number of industries at the forefront of today's challenges and opportunities, including among others:

  • Energy
  • Construction
  • Automotive
  • Financial Services
  • Health care
  • Aviation
  • Insurance
  • Accounting
  • Retail
  • Real Estate
  • Technology

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People (277)

Peer Reviews

  • 4.8/5.0 267 reviews
  • Legal Knowledge

    4.8/5.0
  • Analytical Capability

    4.8/5.0
  • Judgment

    4.8/5.0
  • Communication

    4.8/5.0
  • Legal Experience

    4.8/5.0

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Client Reviews

  • 4.5/5.0 11 reviews
  • 91% client recommended 10 recommendations
  • Communication

    4.7/5.0
  • Responsiveness

    4.5/5.0
  • Quality of Service

    4.3/5.0
  • Value for Money

    4.3/5.0

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Diversity

Diversity and inclusion are core Firm values at Day Pitney. We embrace diversity because we appreciate the reality of a multicultural world and have long understood the value of input and collaboration among professionals with varying perspectives. A multicultural approach leads to broader vision, innovation and creativity. This, in turn, better equips us to provide excellent service to our clients as our focus and dedication to diversity allows the Firm to achieve meaningful, lasting and sustainable results. While we are proud of what the Firm has achieved over the years, the challenge to build on those accomplishments continues. There is still much to do. We remain committed to supporting diversity and contributing to the creation of a profession that more accurately reflects the world in which we live. We do that by encouraging and respecting varying perspectives within the Firm and in the communities in which we practice.

Day Pitney’s diversity and inclusion initiatives not only foster collaboration and mutual respect within our Firm, but also extend outward, into the communities we serve. Our attorneys are committed to enhancing and celebrating diversity in our neighborhoods. Through the Firm’s community outreach efforts, Day Pitney hopes to encourage more women and minorities to enter the legal profession.

Here is an overview of some of our recent community programs aimed at assisting individuals and organizations serving traditionally underserved populations:
  • Through the joint efforts of the Firm's Diversity Committee and Women Working Together (WWT®) program, attorneys in our Florham Park office have been working to foster a relationship with St. Vincent Academy, a college preparatory school for young women of diverse and often politically, socially and economically underrepresented cultures. The students come from various religious backgrounds. Ninety-eight percent of the students are persons of color, and ninety-five percent go on to attend college. Each year before the beginning of the school year, we conduct a back-to-school supply drive to collect donations for the students at St. Vincent. Our attorneys are also working with the school to bring law related programs to the students. 
  • Attorneys in our Hartford office regularly participate in Habitat for Humanity Programs to help socially and economically underrepresented individuals reach the dreams of homeownership. 
  • The Firm is a sponsor of the New Jersey Chapter of the American Conference on Diversity’s annual Diversity Stride, a walk aimed at raising money to fund diversity-related programs for high school students in New Jersey. 
  • All offices annually participate in the Susan G. Koman walk in order to raise money to fight breast cancer. 
  • Day Pitney attorneys have contributed funding, time and pro bono legal services to the Urban League of Greater Hartford, in furtherance of the League’s efforts to “promote the self-empowerment of individuals in the CT Capital Region to achieve educational, occupational and economic equality for themselves and their families.”
  • As a founding member of the New Jersey Law Firm Group (NJLFG), the Connecticut-based Lawyers Collaborative for Diversity (LCD), and the Boston Lawyers Group (BLG), Day Pitney actively supports each organization’s common mission of increasing diversity in the legal profession. Each year, Day Pitney attorneys volunteer to serve as mentors to minority law students through programs coordinated by these three organizations. The Firm also hosts several roundtable discussions on various topics relevant to diversity for these organizations in New Jersey, Connecticut and Massachusetts and participates in BLG and NJLFG job fairs.
In addition to the programs listed above, the Firm’s Summer Apprentices are also invited to organize community service efforts. The Summer Apprentices in each office traditionally choose a community service outreach program meaningful to them and dedicate their time to the community at-large.
 
In large part due to efforts such as these Day Pitney continues to make great strides in supporting diversity initiatives in our neighborhoods.
Day Pitney is committed to fostering an inclusive environment for people of diverse backgrounds at all levels. We continue to strive to provide challenging opportunities, meaningful guidance, and positive incentives to assist our professionals in achieving their greatest potential. In doing so, our goal is ultimately to create advantages out of our differences and to achieve richer, broader goals.
  • Day Pitney is the 2009 recipient of the Fifth Annual Edwin Archer Randolph Diversity Award from The Lawyers Collaborative for Diversity
  • Lynn Baronas, Director of Professional Development, Diversity & Legal Recruiting, nominated for the 2008 advocate of the year award by the Connecticut Minority Suppliers Diversity Council 
  • Recognition from the Urban League of Greater Hartford, Inc. as an "Urban Sponsor" in its 2007 Black History Award Celebration
  • Co-Managing Partner, Jim Sicilian, received a 2007 Human Relations Award for leadership in civic and community affairs by the National Conference for Community and Justice of Connecticut and Western Massachusetts, Inc. 
Day Pitney’s commitment to diversity extends to its recruitment efforts in connection with its summer apprenticeship program. We recruit law students for our summer programs from several minority job fairs and diversity initiatives, including the Philadelphia Area Minority Job Fair, the North East Black Law Student Association Job Fair, the Hispanic Bar Association Job Fair, the Rutgers University Newark Minority Student Program and the University of Connecticut School of Law Cultural Diversity Initiative. We are pleased to report that minority law students comprised forty-three percent of our 2008 summer class and forty-one percent of our 2007 summer class.

Day Pitney believes that diversity is not only crucial to creating a dynamic and cohesive summer apprentice class, but is also important to creating a rich and realistic professional experience for all of our summer apprentices. To that end, the summer program includes activities that expose all of our summer apprentices to a wide range of cultures and backgrounds within the Day Pitney family and in the communities where we practice.
 
For more information about diversity, please contact Edgardo Ramos, Chair of the Diversity Committee at [email protected] or Peter Wilson Jr., Director of Diversity and Legal Recruiting at [email protected]

Diversity Statistics

 
Minority Males
Minority Females
Partners
4.41%
(6 of 136)
10.34%
(3 of 29)
Associates
17.33%
(13 of 75)
18.57%
(13 of 70)
Of Counsel
0.00%
(0 of 22)
-
(0 of 0)
Other Lawyers
7.89%
(3 of 38)
23.81%
(5 of 21)
Paralegals
10.00%
(2 of 20)
4.41%
(3 of 68)
Marketing Professionals
0.00%
(0 of 2)
10.00%
(1 of 10)
Technology Professionals
38.10%
(8 of 21)
0.00%
(0 of 12)
Librarians
40.00%
(2 of 5)
14.29%
(1 of 7)
Finance Professionals
0.00%
(0 of 7)
40.00%
(6 of 15)
Human Resources Professionals
0.00%
(0 of 1)
50.00%
(2 of 4)
Administrative Professionals
31.58%
(18 of 57)
20.15%
(55 of 273)