Bankruptcy & Receivership
We devise highly practical solutions mainly for banks and other financial institutions, secured and unsecured creditors, and in some cases distressed investors and other interested parties. Our team deftly navigates clients through business cycles, bankruptcies, complex restructurings and workouts. Further, we represent nontraditional banking clients, like hedge funds and private equity firms, in distressed transactions. We also advise in some selective cases to companies and boards of directors across industries, helping them overcome operational, financial and corporate governance challenges with creative, out-of-the box solutions, enabling them to plan for the future and get back to business as usual. We also provide strategic business counsel, working closely with companies to identify risks and early warning signs of financial distress.
Historically, receiverships provide one of the most formidable and practical remedies available to creditors. Upon appointment by the court, receivers often take exclusive possession of a company, a secured creditor’s collateral, or any other property in need of protection or liquidation. Receivers, as an arm of the court, can be empowered to investigate fraud, prevent waste, marshal assets, and liquidate property as directed by the court. The receiver’s duties often present complex practical and legal challenges that test the boundaries of the court’s equity jurisdiction. Our firm has been nominated by the banking system as their fiduciaries for many years, and as such we have been acting as receivers for hundreds of assets, thereby gaining practical and legal experience needed to handle the unique challenges of all types of receiverships, including the management of assets, marketing assets for sale, handling very complex sale transactions as well as dealing with the respective tax aspects.