Bankruptcy & Restructuring Overview

Bankruptcy and Restructuring Practice is a microcosm of the firm, drawing from all areas of the firm’s practice. The group currently includes a core of lawyers who spend all or a significant portion of their time on bankruptcy, workout, and insolvency matters. A number of litigators and lawyers in other practice groups work closely with our bankruptcy attorneys on a regular basis. The scope of the practice is national and members of the practice are drawn from various  offices.

In addition, our New Jersey business tax lawyers frequently draw on the expertise of our other practices, for assistance on the real estate, corporate, securities, health care, tax, labor, environmental and ERISA issues that increasingly arise in troubled situations.

Our major areas of practice involve representing:

  • Chapter 11 Debtors/Debtors-in-Possession
  • Official and Ad Hoc Unsecured Creditor and Equity Committees
  • Insurance Companies
  • Indenture Trustees
  • Asset Acquirers
  • Secured Creditors

Sample representations are listed later in this resume.

We also have significant experience representing landlords, officers and directors of debtors, trustees, assignees for the benefit of creditors, and sophisticated workout consultants/crisis managers.

The diversity of our experience has enriched our lawyers’ understanding of insolvency and workout matters, from all perspectives, and enhanced our ability to represent any type of party in these matters.

Capabilities & Experience

Sonnenschein has handled workout, reorganization and bankruptcy matters throughout the United States for a wide variety of clients. Much of our experience in these areas cannot be neatly categorized as either “workout” or “bankruptcy” related. Indeed, one of the hallmarks of our practice has been an acute awareness of the overlap between these two disciplines — and the importance of offering experience and expertise in both workouts and bankruptcies in order to provide maximum flexibility and achieve the most effective results.

A brief overview of our experience in each of these areas follows.

Workouts

We have broad range of experience representing participants in out-of-court debt restructuring matters. This work includes:

  • review of loan documentation and lenders’ collateral positions for existing and potential defects, including enforcement problems;
  • evaluation of restructuring proposals and development of alternatives;
  • analysis of creditors’ positions and likely resort to bankruptcy, and assessment of lenders’ options in bankruptcy proceedings;
  • preparation of the legal documentation to implement out-of-court workout solutions and/or to support position in the event of a court proceeding;
  • appropriate litigation (including representation in bankruptcy court or enforcement proceedings) if a satisfactory out-of-court solution cannot be reached; and

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