Creditor Representation - Insolvency

We represent both plaintiffs and defendants in complex, insolvency-related litigation and adversary proceedings.  As deal-makers and litigators, our attorneys bring a broad range of advisory and crisis management skills. We take pride in helping our clients capitalize on our firm’s nationally recognized strength in litigation, as well as on our skill negotiating the intricacies of the bankruptcy/insolvency landscape. Working with attorneys in our corporate, real estate and finance areas, we have the ability to negotiate and close highly complex bankruptcy transactions or to litigate and try these cases and adversary proceedings to conclusion. We count among our recent bankruptcy transactions the sale of the first commercial air carrier to file bankruptcy after 9/11, the sale of a publicly traded data storage software developer, and numerous transactions for Best Buy Company in connection with its frequent bankruptcy acquisitions.  We have represented numerous clients in significant preference and fraudulent conveyance, and other business litigation matters in numerous bankruptcy courts throughout the United States.

  • Experience

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    Our comprehensive creditor and insolvency-related representations include: lender liability, Uniform Commercial Code matters, leasing, director and officer liability and accounting malpractice.

  • Clients and Industries

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    We serve:

    • Secured and unsecured creditors
    • Trustees
    • Real estate and equipment lessors
    • Insurers
    • Creditors’ and equity committees
    • Business debtors
    • Boards of directors
    • Post-confirmation entities
    • Other interested parties in large Chapter 11 bankruptcies 

  • Selected Case Results

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    • Intrepid USA: Representing sole equity security holder of one of the largest home health care businesses in the U.S. in its Chapter 11 case and the jointly administered Chapter 11 cases of its nearly 60 affiliates.

    • Sun Country Airlines:  Represented first air carrier to file bankruptcy post 9/11, resulting in sale of airline and its reemergence as a Minneapolis-based, lower-cost carrier.

    • Olympic Pipeline Company:  Contested confirmation in oil pipeline reorganization on behalf of business interruption insurers holding in excess of $500 million in claims.

    • NRG, Inc.:  Advised outside directors of Xcel Energy in out-of-court workout and pre-negotiated Chapter 11 of troubled subsidiary involving $10 billion of debt.

    • Best Buy Co. Inc.:  Assisted retailer in divestiture of distressed subsidiary, Musicland Stores Corp., and as a creditor in Chapter 11 cases such as Montgomery Wards, Bradlees and K-Mart.

    • ABC Bus Companies, Inc.:  Representation of seller/lessor of highway coaches in bankruptcy cases throughout the U.S.

    • Recomm International Display:  Counsel to a Pitney Bowes leasing subsidiary in Chapter 11 bankruptcy of a marketer of electronic advertising display equipment and in related multi-district litigation.

    • Citi-Equity Group, Inc.:  Represented unsecured creditors’ committee in Chapter 11 bankruptcy of corporate general partner of low-income real estate partnerships.

    • Alliant Computer Systems Corporation:  Counsel to indenture trustee of $50 million bond issue in Chapter 11.

    • Techworld Associates Limited Partnership:  Represented general partner in prepackaged bankruptcy involving $200 million real estate project in Washington, D.C.

    • International Broadcasting Corporation and Affiliates:  Chapter 11 representation of New York-based financial institutions with claims in excess of $67 million - bankruptcy and litigation cases involving Harlem Globetrotters and Ice Capades.

    • Born Information Systems:  Advised owner of national IT consulting firm and golf course development company in workout and litigation.

    • Tricord Systems, Inc.: Represented developer of clustered server appliances in Chapter 11 case and related litigation.

    • Jefferson Bus Lines:  Counsel to major secured creditor in Chapter 11 of second largest bus line in U.S.

    • Amdura Corporation:  Post-confirmation representation of reorganized debtor.

    *Past results are reported to provide the reader with an indication of the type of litigation in which we practice and do not and should not be construed to create an expectation of result in any other case as all cases are dependent upon their own unique fact situation and applicable law.