Debtors’ and Trustees’ Counsel
As counsel to debtors-in-possession and trustees, our lawyers handle all aspects of commercial bankruptcy cases, from the pre-petition planning to the initial flurry of first-day filings, the arrangement of debtors-in-possession and exit financing, asset sales and, finally, the development and consummation of a plan of reorganization or liquidation. Duane Morris lawyers have extensive experience in formulating restructuring or liquidating plans through negotiation, related transaction documentation and, if necessary, litigation.
Our debtor clients usually carry on their day-to-day operations while they reorganize. Thus, our lawyers are adept at managing everyday dealings with lenders, trade creditors, lessors, utility companies, employees, the U.S. trustee, and creditors’ and equity committees. To help further ensure the continued smooth operation of their businesses, clients often call upon lawyers from Duane Morris’ corporate, real estate, tax, insurance, intellectual property, ERISA and environmental groups.
Debtor-in-Possession Financing
Whether representing a debtor or a lender, our lawyers are skilled at effectively negotiating, documenting and obtaining court approval of the financing agreements necessary to maintain a debtor’s operations during a Chapter 11 case or to consummate a plan and exit Chapter 11.
Section 363 Asset Sales
Investment companies and other operating businesses often seek to acquire the assets of a bankrupt company. Duane Morris regularly advises clients interested in purchasing or investing in distressed and insolvent businesses on the risks and potential rewards involved. In addition to assisting with due diligence, negotiations and the preparation of the transaction documentation, we guide clients through the bankruptcy court bidding and sale process.
Litigation
Because the bankruptcy process is inherently contentious, with diverse constituencies competing over limited assets, clients benefit from the firm’s substantial litigation experience before the U.S. bankruptcy courts. Whether prosecuting or defending claims, we advise each client on the risks and likelihood of success with each course of action and then team with each client to determine the best litigation strategy.
Cross-Border and Multinational Insolvencies
The firm has experience filing Chapter 15 petitions. Our lawyers have also represented foreign companies asserting their interests against domestic debtors and in their efforts to acquire assets from a bankrupt debtor's estate. In addition, our lawyers have been involved in numerous overseas financial restructuring transactions involving multinational companies and the restructuring of indebtedness owed to both domestic and foreign lenders.
For More Information
For more information, please contact Meagen E. Leary, Wendy M. Simkulak or any of the practice members referenced in the Attorney Listing.