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Restructuring, Insolvency and Creditors' Rights

Overview

Our Restructuring, Insolvency and Creditors’ Rights team counsels clients in all aspects of debtor-creditor relationships, workouts, restructurings, insolvency and corporate reorganizations, and litigation relating to any of these matters. When insolvency issues arise, we provide calm assessments, creative solutions and intelligent legal advice to our clients to help manage and resolve the situation. Our lawyers have broad-based knowledge, business acumen and courtroom experience to help steer creditors and debtors alike through the uncertainty of any insolvency issues. As the largest law firm headquartered in Raleigh, North Carolina with one of the largest teams of this type, we have the flexibility to draw on our firm’s substantial resources, when appropriate, in related areas like Employment, Tax, Real Estate, Intellectual Property and Mergers and Acquisitions, among others.

Whether you have a business which finds itself in trouble, or one which finds itself with credit issues, our team regularly represents companies in debt restructurings and workouts, helping clients carefully structure agreements with safeguards to minimize the risk of loss in the event of insolvency or bankruptcy. In addition, we represent commercial debtors, providing the experience and counsel necessary to explore and put into effect the best possible reorganization or liquidation solution. Our team provides counsel to creditors in maximizing claim recovery, purchase and sale of assets, restructuring and workout of problem loans, credit and bankruptcy-related litigation, and acquisitions through reorganizations and Section 363 sales.

Experience

Representative Experience

CREDITORS’ RIGHTS
  • Represented local community bank in connection with restructuring and workout of its troubled loan portfolio
  • Represented national commercial lender in connection with the attempted workout of troubled loans and eventual bankruptcy of a large commercial farming operation in Eastern North Carolina
  • Represented national banking association in connection with its loans and eventual bankruptcy of a large swine operation in Eastern North Carolina
  • Represented Official Committee of Unsecured Creditors in connection with the bankruptcy of a major local residential builder
  • Represented national banking association in connection with the attempted workout of loans and eventual bankruptcy of a large furniture manufacturing operation in North Carolina
  • Represented national commercial lender in connection with the workout of troubled loans and eventual sale of a retail pharmacy chain in North Carolina
  • Represented national banking association in the workout of troubled loans, bankruptcy and eventual sale of a North Carolina golf course and development
  • Represented large commercial lender in connection with the workout of troubled loans and eventual bankruptcy of a grocery store chain in Eastern North Carolina
  • Represented court-appointed receiver in connection with the workout of troubled loans and eventual sale of a North Carolina hotel chain
  • Represented commercial lending subsidiary of a national insurance company in connection with the workout and restructure of loans for the construction and refurbishment of a large hotel in Wilmington, North Carolina
  • Represented commercial lending subsidiary of a national insurance company in the attempted workout of troubled loans, foreclosure and eventual sale of a Raleigh shopping center
  • Represented court-appointed receiver in connection with the foreclosure, environmental clean-up and eventual sale of a large North Carolina hotel
DEBTORS’ RIGHTS
  • Represented principal of regional construction company and related real estate holding companies in the attempted workout of indemnification claims and troubled loans and eventual bankruptcy
  • Represented RTP-based pharmaceutical company in orderly liquidation of assets
  • Represented medical complex in Eastern North Carolina in Chapter 11, and subsequent re-financing
  • Represented Florida-based owner and operator of 69 full-service restaurants in its Chapter 11 bankruptcy
  • Represented major, regional airline in its Chapter 11 bankruptcy and subsequent negotiations with other airlines
  • Represented a publicly traded telecommunications company in its Chapter 11 bankruptcy
  • Represented national lender in negotiation of debtor in possession financing for a major, regional retailer
  • Represented private equity fund in several multi-million dollar acquisitions of troubled and Chapter 11 companies
  • Represented major automobile parts manufacturer based in Gurgeon, India in its U.S. insolvency
  • Acted as receiver of a multi-million dollar ophthalmic practice, and a regional manufactured housing company at the request of the North Carolina Justice Department
  • Acted on behalf of Chapter 11 Trustee for cigarette manufacturer, and represented all natural and organic tobacco company in its sale to one of the top three cigarette manufacturers in the world
  • Represented regional not-for-profit company in attempted reorganization and eventual bankruptcy
  • Represented sole shareholder in connection with the attempted workout and eventual bankruptcy of the shareholder’s manufactured home business, which owned three manufacturing facilities and owned or operated over 300 sales locations throughout the Southeast
  • Represented major supplier in defense of bankruptcy preference litigation in the bankruptcy case of an international telecommunications company
  • Represented national company in the purchase of a note secured by a deed of trust on commercial property in North Carolina and eventual deed in lieu of foreclosure
  • Represented national hotel company in defense of foreclosure of deeds of trust on North Carolina hotel properties
  • Represented out-of-state manufacturing company in connection with the liquidation and dissolution of a North Carolina limited liability company

Services

Services

Pre-Bankruptcy Planning and Workouts

  • Structuring contracts, transactions and relationships to minimize the adverse impact of subsequent insolvency or bankruptcy
  • Negotiation, modification and restructuring of problem credit situations
  • Acquisitions and sales of financially troubled entities
  • Extensions of credit to financially troubled entities

Bankruptcy

  • Representation of debtors in select business bankruptcies
  • Representation of creditors in all aspects of bankruptcy proceedings, including use of cash collateral, post-petition financing, developing and implementing plans of reorganization, protecting the interests and collateral of creditors, valuation of collateral, and obtaining relief from the automatic stay
  • Representation in bankruptcy-related litigation including preference, fraudulent transfer and other avoidance actions, set-off and reclamation claims, discharge and dischargeability matters, and executory contracts and leases
  • Representation of unsecured creditors’ committees and as special counsel to trustees

General Insolvency

  • Litigation arising from distressed credit situations including foreclosures, lien enforcement, claim and delivery, attachment, collections, rights under surety bonds and payment and performance bonds, and lender liability and related commercial litigation

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