Bankruptcy, Financial Restructuring & Reorganization

Practice Chair – Patricia Fugée

FisherBroyles’ approach to financial restructuring and business bankruptcy matters is characterized by a commitment to four fundamental principles:

Maximizing recoveries while minimizing the time and expense associated with the restructuring process;
Utilizing our expertise, wherever possible, to build consensus and achieve negotiated results;
Bringing to bear the best combination of FisherBroyles resources, including litigation, intellectual property, employment law and general corporate law; and
Maintaining paramount focus on client service and satisfaction.

With a practice now focused on creditors’ rights, FisherBroyles’ Bankruptcy and Restructuring attorneys have participated in many national and complex insolvency related matters and have represented, among others, asset sales, companies seeking to restructure their obligations out of court, creditors’ committees, debtor in possession lenders and secured creditors and unsecured creditors in a broad array of industries, including real estate, finance, equipment leasing and manufacturing. This experience in all aspects of bankruptcy practice, extensive network of relationships and reputation in the bankruptcy bar, enhance FisherBroyles’ ability to achieve positive resolution with minimal litigation.

PRIOR REPRESENTATIONS

Representation of debtors prior to and in connection with large, complex bankruptcy cases often involving multiple debtors, creditors’ committees, secured creditor and subordinated debt constituencies. These representations typically included working with financial advisors to evaluate strength and weakness of the debtors’ business model to evaluate prospects of successful reorganization; negotiating the sale of discrete assets (or, in certain situations, substantially all the assets)of a company and seeking approval of same from the bankruptcy court; marshalling the assets of the estate which involved the evaluation of validity of all claims asserted in the Chapter 11 case; prosecution and negotiation of objections to such claims, including assessing secured creditors’ respective priority status, evaluating lender liability claims, equitable subordination claims, fraudulent conveyance claims, preference claims and any invalidity based on applicable non-bankruptcy law; and development, negotiation, confirmation and consummation of plans of reorganization.
Representation of Secured Lenders in out of court restructurings and Chapter 11 cases. This extensive experience includes: (i) representations on behalf of lenders considering making debtor-in-possession financing available for entities on the brink of filing and representing such lenders before the court in connection with seeking court approval of such financing and receiving appropriate super-priority status in recognition of the risk of lending to a distressed entity; (ii) representation of lenders seeking relief from the automatic stay to allow the lender to seize collateral or obtain adequate protection payments pending conclusion of the bankruptcy case; (iii) representations in equipment and other financing transactions to evaluate status as either a true lease or financing transaction and take appropriate course of action to protect lessor’s/lender’s rights; and (iv) defense of objections
seeking to totally eliminate secured lenders claim or avoid priority status over other estate creditors.
Representation of landlords and contract vendors, pending debtors’ decision to assume or reject applicable leases and contracts, to ensure maximum allowable recovery and prosecution of claims resulting from same.
Representation of purchasers of assets/business from bankruptcy estates, including negotiation of deals with debtors and committee constituencies and seeking approval of same before the bankruptcy court, sometimes over the objection of interested parties.
Representation of unsecured creditors’ committee which acted as “watchdog” over debtors and their advisors in connection with the prosecution of the bankruptcy case; assisted and supervised debtor in certain aspects of case administration and assisted in negotiation and confirmation of a plan of reorganization.