We help stakeholders in business insolvencies protect and maximize the value of their interests.
As capital markets, the global economy, and industries evolve and change, corporate insolvencies play an increasingly significant role in today’s business environment. Companies utilize the special provisions of bankruptcy law to buy and sell distressed assets, shed unwanted contractual obligations, restructure balance sheets, resolve legacy obligations, and achieve reductions in workforce. Shumaker, Loop & Kendrick, LLP helps various stakeholders in business insolvencies to protect and maximize the value of their interests.
Clients tell us we add value by getting it right. We devise creative, strategic solutions that meet our clients’ goals, both nationwide—including representation in bankruptcy courts in 36 states—and around the globe. Clients involved in a business insolvency need decisive, spot-on advice to maximize outcomes in insolvency situations. Recognizing that there is little margin for error in business insolvencies, we proactively use our experience and command of applicable law to our clients’ advantage.
U.S. Nationwide Insolvency Practice
- Lawyers in our Bankruptcy group have handled numerous cases as lead counsel in bankruptcy cases throughout the U.S., including in Delaware, the Southern District of New York, and the Southern District of Texas. The U.S. Bankruptcy Code is federal law and is applied substantially uniformly in all U.S. states.
- Delaware is a unique jurisdiction. Its status as a popular state of incorporation results in many Chapter 11 filings there, even though the Chapter 11 debtors are headquartered elsewhere. Due to Bankruptcy Code venue rules, many cases are also filed in the Southern District of New York and the Southern District of Texas. Many professionals who are involved in Chapter 11 cases in these districts are not licensed or located in the districts. The Bankruptcy Courts routinely allow outside professionals to participate in Chapter 11 matters.
- Shumaker has represented numerous creditors’ committees as well as individual creditors and stakeholders regarding their particular legal issues. These include suppliers, customers, counter-parties to contracts, financial institutions, purchasers of assets, and distressed companies.
Global Insolvency Practice
- Shumaker handles inbound insolvency matters for foreign-based companies or their administrators, including informal restructurings, formal Chapter 11 or Chapter 15 filings, sales of assets, and litigation related to a U.S. presence or business activities. We also represent U.S.-based entities regarding insolvencies in foreign jurisdictions and partner with our global network of professional colleagues for outbound insolvency matters.
- Creditors’ committees
- Suppliers to or customers of distressed companies
- Financial institutions and lenders (both secured and unsecured)
- Distressed companies, including boards of directors, private equity, and portfolio companies
- Foreign debtors or administrators in cross-border insolvency cases
- Trustees in bankruptcy
- Receivers for distressed assets
- Counter-parties to contracts with distressed companies
- Buyers of distressed assets
- Landlords and tenants
- Official creditors’ committee representation
- Unsecured creditors’ rights and remedies
- Secured lender rights and remedies
- Bankruptcy or workout planning
- Fiduciary duties of officers and directors
- Chapter 11 filings
- Chapter 7 liquidations
- Cross-border insolvencies, including Chapter 15
- Post-petition financing
- First-day motions
- Assignments for the benefit of creditors
- Non-bankruptcy workouts and forbearance agreements
- Avoidance litigation
- Preference defense
- Equitable subordination claims
- Lender liability claims
- Section 363 sales
- Forensic analysis
- Intellectual property rights in bankruptcy
- Labor and employment rights for insolvent companies
- Collective bargaining and retiree obligations
- Tax issues arising from distressed companies