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Bankruptcy & Business Restructuring
Bankruptcy presents strategic opportunities for businesses to address a variety of complex financial and legal concerns. It offers creditors, lenders, bondholders and other interested parties opportunities to obtain marketable securities for their investments or other value for their claims. Bankruptcy presents strategic and financial buyers with opportunities to acquire businesses and assets. Bankruptcy also offers debtors relief from creditors’ actions and time to formulate plans to reorganize.
The Bankruptcy & Business Restructuring Practice at Ropes & Gray, nationally recognized as a “sophisticated, high-quality” practice by Chambers USA, has extensive experience representing clients in bankruptcy cases and distressed situations throughout the United States. Our attorneys work closely with our clients to help them achieve their business objectives in the bankruptcy or other insolvency contexts.
Diverse Clients
Our clients include:
- Private equity and hedge funds
- Portfolio companies
- Distressed companies
- Investment companies and major institutional investors
- Major retailers and suppliers
- Claims purchasers
- Financial and strategic acquirors of troubled businesses, leases, assets and intellectual property
- Boards of directors
- Official and informal committees of bondholders, creditors and equity holders
- DIP lenders
- Banks and other financial institutions
In-Depth Experience
At Ropes & Gray, our highly skilled bankruptcy and business restructuring attorneys are some of the most experienced in the field. For decades, our lawyers have represented clients throughout the country, in virtually every form of insolvency and workout.
We regularly represent clients with respect to:
- All forms of bankruptcies, insolvencies, liquidations, restructurings, and workouts
- Third-party acquisitions of businesses, leases, assets, and intellectual property
- Contentious insolvency litigation, including litigation with respect to leveraged buy-outs, debt recharacterization, lease recharacterization, breach of fiduciary duty, insiders, fraudulent transfer claims, and preferences
- Bond defaults
- Troubled loan syndications and asset securitizations
- Mezzanine and second lien financings
- Post-petition and exit financings
- Publicly offered debt and hybrid-equity securities
- Tax-related issues, including credit enhancement transactions in public, private and tax-exempt financings
- True-sale and non-consolidation opinions
- Valuation issues
- Chapter 9 municipal reorganizations
- Chapter 11 corporate reorganizations
- Enforcement of rights under the Uniform Commercial Code
National Scope
From our offices in Boston and New York City, our bankruptcy attorneys represent clients seamlessly across the country. We have had recent engagements in major cases in New York, Delaware, Illinois, Toronto, Massachusetts, California, Colorado, Maryland, New Jersey, Texas, and Virginia. Whether helping pursue complex bankruptcy litigation in multiple jurisdictions, or providing straightforward business restructuring guidance, we offer clients the highest level of service, skill and business-oriented guidance.
Representative Restructuring Engagements
- Currently representing a steering committee of lenders under the $1.5 billion GM term loan, with respect to the recent amendment proposals by GM, in advance of a potential out-of-court or bankruptcy restructuring by GM.
- Represented a steering committee of debenture holders of $450 million of subordinated debentures with respect to out-of-court workout negotiations and currently represent the steering committee and the indenture trustee for such bonds in connection with the chapter 11 cases of BearingPoint, Inc.
- Represented Bain Capital in connection with its $2.15 billion “stalking horse bid” to acquire substantially all of the assets of the investment management division of Lehman Brothers, Neuberger Berman.
- Represented hedge fund R3 Capital Partners in a sale and settlement transaction in the Chapter 11 cases of Lehman Brothers Holdings Inc. and its affiliates.
- Represented ad hoc term lender committee of Kelson Canada, Inc., in restructuring with Sponsor.
- Represented the Official Committee of Unsecured Creditors of Wellman, Inc. in connection with Wellman’s Chapter 11 case involving in excess of $750 million in claims.
Contact
For further information on this area of practice, please contact:
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