Bankruptcy and Creditors' Rights
The Bankruptcy and Creditors' Rights practice covers the entire field of creditor and debtor law; including bankruptcies, receiverships, foreclosures, workouts, loan documentation and collections. Our attorneys assist clients from the United States and numerous other countries in bankruptcy and creditors' rights matters throughout the U.S. We work in close cooperation with other practice areas in the firm to advise on secured and unsecured financing, commercial and real estate transactions, the purchase and sale of financially troubled companies, technology licensing, corporate matters and a multitude of other business situations.
Chair: Joseph E. Shickich, Jr.
We vigorously represent clients at all levels of federal and state courts, in the full spectrum of creditor-debtor proceedings, including bankruptcy proceedings, co-lender disputes, enforcement of guarantees, fraudulent and preferential transfer cases, inter-creditor disputes, lender liability cases, receiverships and appeals.
Beyond the courtroom, we provide advice in disputes and business transactions in such matters as advice to borrowers, lenders and guarantors; arbitration and mediation; asset identification and recovery; deeds in lieu of foreclosure; loan documentation, modifications, and workouts; recasting of leases; sale and purchase of distressed assets and tax considerations relating to insolvencies.
Matters representative of our business and litigation practice include:
- Represented Tort Claimants’ Committee in the case of the Spokane Catholic Diocese, and instrumental in the concept and drafting of Plan of Reorganization
- Chapter 11 restructure of operating and term loans to a telephone and electric utility operating in more than 20 markets through several operating subsidiaries, and redocumentation of restructured loan to perfect security interests in all operating assets
- Resolution of major lender liability litigation through a Chapter 11 plan structured to bind non-debtor claimants who also asserted claims against target of lender liability claims
- Precedent establishing case concerning successor liability, equitable subordination and UCC Article 9
- Out of court liquidation of fruit grower and processor for secured creditor through continued operations during evaluation and marketing period, operating leases with prospective purchaser and ultimate sale following acquisition of assets by lender through deed in lieu of foreclosure
- Represented local bank in a check kiting scheme against bank's customers and other national banks involving complex UCC Commercial Paper issues
- Established priority of claims of major railroad and other carriers over secured lender to funds paid by shippers in bankruptcy of transportation broker
Among the companies for whom we have worked in bankruptcy proceedings are: Microsoft, BNSF Railway, DHL, CoBank and ORIX Real Estate Capital Markets. Our clients span the full spectrum of participants in insolvencies and workouts, including:
- Secured and unsecured creditors, including bond and debenture holders
- Creditors’ committees
- Bankruptcy trustees
- Indenture trustees
- Landlords and tenants
- Shareholders and other owners of debtors
- Turnaround managers
Industries in which we have had a concentration of cases in recent years include:
- Financial services
- Health care
- High-tech, computers and software
- Hospitality, restaurants, hotels and ski resorts
- Manufacturing and distribution
- Maritime and fishery
- Real estate