Financial Restructuring & Distressed Transactions

Our practice is far broader than simply representing clients in bankruptcy court. We resolve challenges in the best way for our client, whether that is through counseling them or advocating on their behalf. Clients often come to us for help with restructuring or to work out the underlying creditor-debtor relationship outside of the courtroom, which can be economical and efficient. To that end, we have negotiated and drafted forbearance, deed-in-lieu, modification and workout agreements, confessions of judgments, and covenant waivers, as well as assignments for the benefit of creditors and other non-judicial restructurings. In instances where such out-of-court strategies are more beneficial, we routinely represent our clients in foreclosures and receivership actions, as well as in litigation in state and federal courts seeking enforcement of remedies under applicable credit documents. Working in tandem with our Real Estate group, we are skilled in commercial real estate workouts and restructurings, and are able to advise our clients on all associated issues.

Our attorneys have extensive experience managing acquisitions of troubled, distressed and bankrupt companies and assets, whether through the vehicle of a Section 363 sale or bankruptcy plan, receivership or other non-judicial means. In these matters, we have represented sellers, purchasers, licensors of intellectual property, boards of directors and management, as well as their respective lenders. Our multi-disciplinary approach allows us to precisely address all issues involved in these kinds of purchases or sales. Given our strong relationships with various financial institutions and private equity firms, our attorneys can assist in finding potential sources of funding for our clients. This ability to make connections between our clients is a natural advantage to working with our team.

Clients also rely on us for their purchase or sale of distressed loans and loan pools. Our legal and transactional experience uniquely addresses and resolves pre- and post-acquisition issues associated with these transactions. During the pre-acquisition phase we conduct due diligence, negotiate and draft necessary operative documents, including loan sale and servicing agreements, represent the purchaser or servicer with respect to any and all financing issues as well as loan documentation, if needed, and advise as to various start-up issues, including state-by-state licensing requirements to purchase and service loans. Once the loans or loan pools are acquired, Burns & Levinson coordinates the drafting and recording of the necessary transfer documents. Additionally, our workout and restructuring experience enables our attorneys to address and resolve all issues that stem from sub-performing or non-performing loans.

If you are an insurer or board of directors, you may be questioning what to do when claims have been made against an insolvent insured’s D&O policies. We provide a team of attorneys who have experience in coverage litigation and bankruptcy proceedings, ensuring proper access to policy proceeds. In addition, we have represented insurers in bankruptcies and insolvency proceedings as a result of an insured’s potential and actual asbestos, silica and other mass tort liabilities.