Renowned for our success in leading negotiations and reaching consensus among parties with competing interests, we are often the first choice of bondholders, lenders and other creditors.
Our bankruptcy and restructuring lawyers have decades of experience representing bondholders, lenders and other non-financial creditors including trade creditors in many of the largest bankruptcy cases and out-of-court restructurings in history, beginning with matters such as Lehman Brothers, American Airlines, Eastman Kodak and Owens Corning.
We are well known for our ability to optimize client relationships with debtor companies and secure maximum claims valuations and recoveries for our clients. Our lawyers have achieved winning results in many recent high-profile bankruptcies, including:
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Caesars Entertainment Operating Co
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Peabody Energy Corp
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Energy Future Intermediate Holding Co
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Molycorp Inc
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Takata
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Gymboree
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Dewey & LeBoeuf
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RCS Capital
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Aeropostale
Collaborating with lawyers in our corporate, banking and finance, tax, and real estate practices, we structure, negotiate and document loan transactions, including:
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Exchange transactions (including liability management exchanges)
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Credit agreements
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DIP loans
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Covenant analyses
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Mezzanine loans
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Second lien loans
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Bridge loans
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Acquisition facilities
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Exit financings
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Standstill agreements
Our team analyzes capital structures, including indentures, inter-creditor agreements, and other credit and security documents, to provide our clients with practical strategies that enhance leverage and recoveries. We have demonstrated success on the enforcement of creditors’ rights related to senior and subordinated debt priorities; no-action clauses, compelling indenture trustees to take actions; and covenant defaults while minimizing the risk our clients face. We often defend lenders against alleged lender liability and related claims and have, on a number of occasions, leveraged those litigations to successful outcomes including creditor sponsored Chapter 11 plans in the US.
We partner with our clients to develop creative solutions for creditors through various structures, including debt-for-equity exchanges, loan transactions and other capital investments in distressed companies. We also represent non-financial creditors, such as suppliers, contract counterparties and other trade creditors, in negotiating and defending contractual rights with companies. Our extensive experience across industries and litigation capacity enables our team to protect creditors’ rights across the capital structure with a focus on maximizing value for all stakeholders.
