Working with Holland & Knight’s Bankruptcy, Restructuring and Creditors' Rights Practice Group means having one of the most active insolvency law practices in the United States on your side – as well as one of the few major practices with a 360-degree view of bankruptcy transactions. We counsel both debtors and creditors and we are committed to finding creative solutions to bankruptcy issues through negotiation, litigation or a transactional approach.
Our bankruptcy attorneys represent debtors, creditors' committees, bondholder committees, financial institutions, secured creditors, indenture trustees, bankruptcy trustees, asset acquirers, claims traders, and companies doing business with distressed companies, both in and out of court, in a variety of industries.
In addition, our lawyers have acted as trustees, examiners and receivers, and have published extensively on such varied topics as Bankruptcy Code safe harbors for securities transactions, derivatives in Chapter 11 cases, fraudulent conveyance law, prepackaged bankruptcies, Ponzi schemes, lending practices, fiduciary duties in bankruptcy, financial management and more.
We have broad market sector knowledge in the finance, communications, real estate, transportation, hospitality, healthcare, technology and manufacturing sectors. We also help evaluate and structure transactions to avoid the pitfalls of a subsequent insolvency.
Experienced Lawyers on Your Side
Our Bankruptcy, Restructuring and Creditors’ Rights Group received The Global M&A Network’s Turnaround Atlas Award for Consumer Manufacturing Restructuring of the Year in 2016 and received a ranking in the 2017 GRR 100’s Guide to the world’s leading restructuring and insolvency practices. Members of our team have also been selected for inclusion in leading industry publications based on their work in this area. A number of our attorneys are ranked in the 2018 editions of Chambers USA, Best Lawyers in America and Super Lawyers. In addition, our team includes three partners who have been inducted as Fellows in the American College of Bankruptcy.
Because of our wide spectrum of clients, we are experienced in all aspects of bankruptcy practice, including:
- representing debtors in and out of court
- formulating and obtaining confirmation of plans of reorganization, liquidating plans and prepackaged plans
- asset sales and acquisitions, whether through a 363 sale, under a plan or out of court
- protecting the interests of financial institutions in connection with secured claims
- representing unsecured creditor and bondholder committees
- cram-down litigation
- proceedings relation to assumption and rejection of unexpired leases and executory contracts
- litigation of avoidance actions
- debtor-in-possession financing
- valuation proceedings
- automatic stay litigation
- bankruptcy appeals
Transactions Involving Insolvent Entities
We have significant experience in the purchase or sale of financially distressed businesses, and in advising directors, officers and shareholders in connection with transactions involving an insolvent entity. We are equally at home accomplishing a client’s goals through negotiation, litigation or a transactional approach. Our lawyers are skilled in both the transactional and litigation aspects of bankruptcy.
Guidance on International Insolvency Matters
Our group enjoys a breadth of experience in foreign bankruptcy proceedings in Canada, Europe, Asia, South America and the Caribbean Islands. This international exposure has led to a proficiency in bankruptcy proceedings both in and ancillary to foreign proceedings.
Experienced and Responsive Guidance
Outstanding client service is the bedrock of our bankruptcy practice. We take pride in our attorneys' depth and breadth of understanding the ins-and-outs of bankruptcy law. Whether in the boardroom or the courtroom, our bankruptcy attorneys have the experience and commitment to responsiveness to assure that a matter is efficiently handled by a capable team of professionals.
Representative Debtor Cases
- In re Reed and Barton Corporation. District of Massachusetts. Represented iconic silver manufacturer with nearly 200 year operating history as a debtor in Chapter 11 proceedings. The case involved a sale of substantially all assets to a strategic buyer at a price that was nearly five times the amount of the secured debt.
- In re IdleAire Technologies, Inc. District of Delaware. Represented Chapter 11 debtor in reorganization proceedings involving a 150 location operation that provided fuel use reduction and green house gas reduction technology to the long haul trucking industry. The case involved a §363 sale of substantially all asset to institutional holders of over $400 million in secured bond debt.
- In re Far & Wide Travel Corporation, et al. Southern District of Florida. Represented eight related Chapter 11 debtors engaged in the international tour industry. The restructuring was effected through a series of fifteen §363 sales of various divisions of the company to strategic buyers located in four different countries.
- In re Netbank, Inc. Middle District of Florida. Represented the debtor in a Chapter 11 case of the parent holding company of one of the first-ever internet banks.
- In re New Seabury Company L.P. District of Massachusetts. Represented Chapter 11 debtor in a case involving a 2000 acre resort community on Cape Cod, Massachusetts.
Representative Secured Lender Cases
- In re Excel Maritime LLC, et al. Southern District of New York. Represented syndicated bank group of 14 institutions and the agent in connection with a $1.1 billion financing secured by 40 vessels provided to an international dry bulk shipping company in Chapter 11 proceedings.
- Bill Heard Enterprises, Inc. et al. Northern District of Alabama. Represented lender in $55 million floor plan financing to three of the Debtors' GM dealerships.
- Skybus Airlines, Inc. District of Delaware. Represented aircraft lessor with respect to 17 aircraft under purchase contract from Airbus and prospectively leased to the debtor.
- Planet Fitness/Boston et al. District of Massachusetts. Represented lender to six Planet Fitness franchises and its parent company.
- Bray & Gillespie et al. Middle District of Florida. Represented a REIT that had lent more than $33 million to several borrowers who were consolidated in a bankruptcy case with more than 70 debtors and more than $600 million in debt as a result of three hurricanes and the depressed real property market in Florida. Plan was confirmed.
Representative Creditors' Committee Cases
- In re Satcon Technologies, Inc. District of Delaware. Represented official committee of unsecured creditors in a Chapter 11 case involving a designer, manufacturer and installer of solar energy technology with locations across three continents.
- In re Plymouth Rubber Company. District of Massachusetts. Represented the official committee of unsecured creditors in a case involving a manufacturer of rubber products used in the automotive industry.
- In re Century Electronics. District of Massachusetts. Represented the official committee of unsecured creditors in a case involving a subcontract manufacturer of electronics communication equipment for some of the largest distributors in the country. Successfully confirmed a creditor's committee propounded plan of reorganization.
- In re Metrobility. District of New Hampshire. Represented the official committee of unsecured creditors in a case involving a debtor that designed, sold and installed data compression technology systems.
Representative Asset Acquisitions
- In re Chem/Rx, Inc. District of Delaware. Represented PharMerica Corporation in connection with its $100 million acquisition through a §363 sale of substantially all assets of the third largest private pharmacy services company in the United States.
- In re Farmland Foods, Inc. District of Missouri. Represented Smithfield Foods in connection with its $400 million acquisition of the protein assets of Farmland Foods.
- In re WCI Communities, Inc. District of Delaware. Represented two hotel developer/operators in their acquisitions of hotel properties in §363 sales.
Representative Estate Fiduciary Cases
- In re J.M. Products, Inc. District of Arkansas. Represent the Chapter 11 trustee in a liquidating chapter 11 case.
- In re Sandy Bay, LLC, et al. District of Massachusetts. Acted as and represented the examiner in connection with eight related single asset real estate cases involving allegations of fraud by management.