Businesses confronting the possibility of insolvency face a unique mix of legal, business, financial, and human relations challenges. Robinson+Cole has worked extensively on these issues for regional, national, and international clients, including banks and other financial institutions, individual lenders, syndicated lending groups, institutional investors, vendors, landlords, and other categories of creditors. Our clients include hedge and private equity funds, acquirers of assets from financially distressed companies, real estate and equipment lessors, special servicers, equity holders, franchisees, and other parties in need of specialized advice regarding the debtor-creditor relationship.
Our insolvency and creditors rights practice includes lead lender, secured creditor, and major vendor representations; insolvent asset acquisition advice and representation; defense against bankruptcy preferences, fraudulent transfers, subordinations, and other avoidance claims; foreclosures; the development and negotiation of out-of-court and Chapter 11 workouts and reorganization plans; lender liability litigation; and representation on matters arising out of loan participations, intercreditor agreements, lender conduct, executory contracts, license and franchise agreements, distributorship agreements, and commitment letters.
Our team members have extensive experience with guiding businesses in not only prebankruptcy planning, but also bankruptcy filings in order to safeguard their financial interests. We regularly represent clients of all sizes across a range of industries, including retail, travel, healthcare, manufacturing, and energy. We have represented constituencies in some notable bankruptcy cases, such as Lehman Brothers, Westinghouse, SunEdison, NewPage, Bernie Madoff, Chrysler, Toys “R” Us, RadioShack, Bob’s Stores, Goody’s and Filenes
We also work with lawyers in our other firm practice groups to assure the high quality advice needed in complex insolvency-related matters. We draw on Robinson+Cole's vast experience in financial services, finance, mergers and acquisitions, private equity, hedge funds, litigation, finance and real estate, financial regulation, and tax law. Applying our collective skills and backgrounds enables us to provide seamless cross-disciplinary representation in any bankruptcy, restructuring or reorganization situation, whether in or out of court. Additionally, our lawyers have extensive working relationships with crisis managers, financial advisors, and other insolvency professionals to enhance our clients' primary objective of maximizing value in the most efficient manner possible.
Represented the largest creditor of celebrity rap mogul and entertainer in his Chapter 11 case, successfully resolving disputes regarding the claim, which arose from a joint venture gone bad, and achieving a substantial recovery. Success in the case came from the successful collaboration of the largest creditors, effectively operating as an informal committee, and identification of a viable exit strategy with the debtor after the creditors filed their own plan.
Retained by one of the world's largest manufacturers to represent one of its business units in all bankruptcy and commercial collection litigation matters throughout the U.S., including over 100 bankruptcy cases, some of which are among the largest and most complex cases pending in the country. Provided advice on collateralizing debt obligations and on enforcing alternative creditor remedies, including advice on reclamation and mechanic's liens.
Represented financiers, who provided venture capital to a marketing company, in successfully moving to convert the marketing company’s bankruptcy case from a Chapter 11 reorganization to a Chapter 7 liquidation and in foreclosing on collateral, including the debtor's intellectual property. Representation included extensive discovery and briefing, culminating in a successful trial in the Bankruptcy Court in the Southern District of New York.
Represented creditors in some of the largest bankruptcy cases throughout the United States, including Lehman Brothers, Chrysler, Lyondell Chemical, Enron, WorldCom, Adelphia, Toys “R” Us, RadioShack, Rue21, Answers Holdings, and US Airways I and II.
Represented numerous secured creditors in contested relief from stay, cash collateral and confirmation proceedings.
Represented lenders to various nonprofit healthcare organizations in and out of receivership proceedings and bankruptcy proceedings.
Represented international supplier of fuel oil to shipping industry as debtor in Chapter 11 case, culminating in confirmation of liquidating plans that paid a substantial dividend to creditors. The case required litigation, mediation and extensive negotiation with creditor constituencies regarding relative rights of secured creditors and maritime lien holders in a complex international supply environment.
Restructuring counsel for a subsidiary of one of the nation's largest Spanish-speaking newspapers.
Counsel to Official Committee of Unsecured Creditors in Sigg Switzerland (USA), Inc. (District of Connecticut).
Counsel to Official Committee of Unsecured Creditors in Label Systems, Inc. (District of Connecticut).
Counsel to Official Committee of Unsecured Creditors of Alliance Security, Inc. (District of Rhode Island).
Co-counsel to Official Committee of Unsecured Creditors of UTGR, Inc. d/b/a Twin River (District of Rhode Island).
Represented property insurer of Montreal Maine & Atlantic Railway in connection with its chapter 11 railroad reorganization following the tragic explosion in Lac Megantic, Quebec.
National bankruptcy counsel for market trend and merchandising consultant to the retail and fashion industry.
On behalf of a winning bidder for a multimillion dollar piece of commercial real estate, successfully argued for disqualification of competing bid for failure to comply with the Bankruptcy Court’s sale procedures order.
Represented nonprofit hospital consortium in potential acquisition of the assets of another nonprofit hospital out of Chapter 11 proceedings pursuant to Section 363 of the Bankruptcy Code.
Represented landlords of chain of nonprofit nursing homes in receivership proceedings.
Represented foreign liquidator of overseas banks in litigation to recover more than $140 million in U.S. assets seized by the New York superintendent of banks. To recover the seized funds for distribution in liquidation proceedings in Belgrade, we filed an ancillary proceeding under the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. The litigation included successful appeals to the District Court and the United States Court of Appeals for the Second Circuit. Following remand, the litigation settled on advantageous terms. We defeated subsequent collateral attacks on the settlement in New York State Supreme Court and the Appellate Division.
Represented a lender in a $4.5 million foreclosure claim in which the defendant counterclaimed for $18 million in damages sounding in lender liability. The matter was contested over the last three years and settled on the eve of trial. Multiple motions were drafted and argued before the court, including summary judgment.