Greenberg Glusker’s bankruptcy attorneys develop legal solutions that enhance and preserve value for clients.  This approach takes into account the business, strategic practical and legal concerns facing the company and client.

Our bankruptcy and reorganization background includes:

• Debt restructuring, loan workouts, reorganization and competing plans of reorganization
• Debtor-in-possession financing and cash collateral agreements
• Secured and unsecured creditors
• Committees - creditors, equity security holders and bondholders
• Lenders with defaulted loans
• Indenture trustees
• Preference and fraudulent conveyance actions, non-dischargeability actions
• Liquidations
• Buyers of assets from bankruptcy
• Involuntary bankruptcy petitions
• Executory contracts, leases and intellectual property rights in bankruptcy
• Foreign representatives in ancillary proceedings

Key Strategies:

Corporate Reorganization

• Evaluate alternatives and assist in prepetition planning
• Assist in arranging debtor in possession financing
• Coordinate with management, consultants and turn-around specialists

Workouts

• Evaluate, negotiate, implement and supervise out-of-court workouts
• Renegotiate bank loans and covenants, revise debt instruments, and structure payment plans with trade vendors
• Assist in locating new capital
• Coordinate with management consultants and turnaround and crisis management specialists in the restructuring and "right-sizing" of a client's business

Assignment for the Benefit of Creditors

• Represent both debtor/assignor companies and purchasers of assets from assignees
• Formulate, negotiate, and implement out-of-court assignments for the benefit of creditors
• Structure sales to third parties as part of assignments

Committee Representation

• Represent creditor and equity holder committees in the protection of their rights and assets
• Represent bondholders
• File creditor plans of reorganization
• Monitor debtor reorganization cases

Creditor Representation

• Pursue defaulting debtors on behalf of lenders and enforce lenders’ rights
• Advise on injunctions, writs of attachment, writs of possession, receiverships, and like procedures
• Prepare forbearance agreements and renegotiate loans and covenants
• Design use of cash collateral and debtor-in-possession financing agreements
• Obtain relief from stay
• Evaluate security interests and implement UCC and real property foreclosure sales
• Prosecute and defend lender liability actions
• Manage creditors’ rights litigation involving real estate property, receivership, guaranty claims and commercial instruments

Purchase and Sale of Distressed Assets

• Conduct Section 363 sales for debtors
• Conduct sales through assignment for benefit of creditors
• Conduct sales through UCC foreclosure
• Represent buyers of assets in bankruptcies and reorganizations
• Guide clients on opportunities and risks associated with distressed sale transactions, including merger and acquisition transactions

Adversary Litigation

• Prosecute and defend preference, fraudulent transfer and other avoidance actions
• Advise clients on structuring settlements and evaluate third-party claims within the framework of in and out-of-court restructurings, workouts and reorganizations

Director and Officer Litigation

• Prosecute D&O claims on behalf of debtors and trustees
• Defend directors and officers against claims of trustees for breach of fiduciary duty, deepening insolvency and other claims

Transactional Counsel

• Provide bankruptcy perspective and “bankruptcy proofing” measures in mergers & acquisitions transactions, corporate and real estate transactions, and commercial litigation settlements, asset-based loans, and senior secured and mezzanine loans
• Advise clients during deal due diligence and negotiations, and evaluate costs and benefits of acquiring assets in and out of bankruptcy
• Interpret financing transactions, including cash flow loans