Lynne B. Xerras is a partner in the Boston office of Holland & Knight and a member of the firm's Bankruptcy, Restructuring and Creditors' Rights Group. Her practice is primarily focused on advising clients across a wide range of industries on federal bankruptcy law and state law remedies in the event of insolvency. Ms. Xerras represents corporate debtors, secured and unsecured creditors, parties to contracts and leases, and creditors' committees in Chapter 11 proceedings and Section 363 sales before the United States Bankruptcy Courts. She has extensive experience asserting and defending creditor claims and advocating for clients involved in preference actions and other federal court litigation, and is skilled at negotiating cost-effective favorable settlements for her clients.
Ms. Xerras represents local nonprofit organizations in connection with dissolution and financial distress on a pro bono basis. She is a frequent lecturer for Massachusetts Continuing Legal Education and the Boston Bar Association on bankruptcy law and procedure and creditors' rights issues, and has authored several articles for those organizations.
Ms. Xerras' current and recent matters include:
- representation of a supplier in a defense of state court action brought by a Chapter 7 trustee in a retailer's bankruptcy to recover the asserted value of untaken "chargebacks" and vendor allowances
- representation of a primary secured creditor in the bankruptcy of eight affiliated health clubs in litigation before the bankruptcy court, involving control over club facilities and their revenue
- representation of an industrial supply company as a creditor in large Chapter 11 cases; facilitating the sale of the client's unsecured and administrative claims
- representation of the owner of a lighting product retailer and showroom in the successful acquisition of a competing lighting supply company through a Section 363 sale
- representation of the shareholder/principal of a defunct compounding center in defense of claims asserted by the bankruptcy trustee and in furtherance of a global settlement process
- member of a team representing the former director and officer of affiliated film production companies in defense of claims for breach of fiduciary duties asserted by the creditors' committee and lenders
- representation of the examiner appointed in the bankruptcy of a group of closely held real estate holding companies, overseeing an accounting firm's forensic accounting and diligence regarding the amount of undisclosed distributions made to a majority partner
- representation of a fuel distributor and gas station site owner in connection with the bankruptcy of the master lessee and assertion of the client's rights as creditor and landlord
- spearheaded negotiations on behalf of a group of banks and mortgage servicers leading to a favorable global settlement of claims asserted by the Attorney General's Office and individuals involved in debtor/borrower's "foreclosure avoidance" transactions
- representation of defendants in preference actions filed in bankruptcy courts nationwide