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Bankruptcy & Financial Restructuring

The attorneys in Montgomery McCracken’s Bankruptcy & Financial Restructuring practice assist clients in all phases of workouts, financial restructuring, bankruptcy reorganizations, and litigation involving troubled companies and bankruptcies.

Since the 1960s, Montgomery McCracken attorneys have been recognized leaders in this practice area.  Focused on helping clients work through the maze of difficult financial situations, we provide a broad range of legal and business skills.

We counsel our clients:

  • on behalf of both debtors and creditors, to negotiate, document and consummate in and out-of court workouts for financially troubled businesses;
  • on creative methods to resolve or reduce financial exposure for the obligations of a debtor;
  • in corporate, banking and commercial restructurings and documentation of business and loan transactions to avoid or minimize risk if other parties to the transaction later encounter financial difficulty;
  • on innovative and comprehensive pre-bankruptcy planning for clients who engage in high risk businesses or those experiencing signs of impending financial difficulty.

The attorneys in the Bankruptcy & Financial Restructuring practice regularly appear in the Pennsylvania, Delaware, New York and New Jersey bankruptcy courts, and enlist the specialized talents of other departments including the firm’s talents in complex litigation, healthcare, real estate, tax, maritime and transportation, government enforcement/criminal law, environmental, labor law, corporate and other specialties.

Representative clients include:

  • Creditors, including landlords, vendors and service providers
  • Debtors
  • Owners/corporate parents/affiliates of debtors
  • Lenders
  • Asset purchasers
  • Trustees
  • Plan Administrators

In recent years we have achieved significant victories for our bankruptcy/reorganization clients. Section members have been involved in the following matters:

  • representing the Celotex Corporation as special counsel in preparing and confirming its plan of reorganization and establishment of its asbestos claims resolution facility;
  • representing the debtor’s major secured creditor in the successful bankruptcy sale of substantially all of the assets of an energy technology company, and in obtaining payment for the secured creditor;
  • representing trustees, as both general and special counsel, in cases such as Jevic;
  • representing a large life, health and disability insurer on a national basis in, among other things, preferential and fraudulent transfer adversary actions, turnover demands, exemption disputes and payment priority disputes;
  • assisting in creative bidding for and/or purchasing the assets of Chapter 11 debtors in cases such as MRC Industrial Group;
  • protecting the pre- and post- bankruptcy interests of suppliers, landlords and other creditors of financially distressed retailers;
  • partnering with the firm’s Environmental practice to protect the interests of potentially responsible parties in the bankruptcies of other entities liable for environmental remediation;
  • partnering with the firm’s Maritime and Transportation practice to represent a financially troubled marine fuel business, handling both the bankruptcy and maritime aspects of the reorganization;
  • partnering with the firm’s Maritime and Transportation practice to protect the interests of shippers, vendors, freight forwarders and debtors in reclamation and payment priority disputes both before and after the filing of a bankruptcy;
  • representing individual creditors in a variety of matters, creditors in pre-bankruptcy litigation, creditors in claim disputes, creditors involved in allegedly preferential or fraudulent conveyances, and creditors in making claims; and
  • obtaining injunctions and orders protecting franchisors, vendors and reclamation creditors.

Montgomery McCracken has been recognized by the M&A Advisor multiple times for its involvement in the Chapter 11 cases of O.W. Bunker Holding North America Inc., O.W. Bunker North America Inc. and O.W. Bunker USA Inc. The M&A Advisor has awarded the OWB deal team with the following:

  • International Restructuring Deal of the Year, The M&A Advisor’s 9th Annual International M&A Advisor Awards, June 2017
  • Restructuring Deal of the Year (Over $500MM to $1B) and Energy Deal of the Year (Over $500MM to $1B),  The M&A Advisor’s 11thAnnual Turnaround Awards, March 2017
  • Restructuring Deal of the Year (Over $100MM), The M&A Advisor’s 15th Annual M&A Advisor Awards, November 2016

Our attorneys have an established reputation for forceful and effective representation with an impressive track record of success.  When you hire Montgomery McCracken, you will receive personalized and comprehensive attention and advice, bringing to bear the resources of other specialties as may be required, with a singular commitment to your needs and objectives.

For more information, please contact Bankruptcy & Financial Restructuring chair Edward L. Schnitzer at eschnitzer@mmwr.com.