Our experienced attorneys handle complex restructuring, bankruptcy, insolvency and creditors’ rights matters, regularly working to improve our clients’ financial and collateral positions.
Knowledge of a client’s business, industry, and strategic goals is critical in structuring financial reorganizations, workout plans, loan modifications, and collection of our clients’ claims. Our team capitalizes on McGlinchey’s extensive financial services, transactional, and litigation experience and utilizes the skills of McGlinchey attorneys who concentrate their practices in other areas of law. We can assemble rapidly the right team of attorneys and other professionals to deliver a skillful, comprehensive, and value-added approach to insolvency-related issues. This ability to leverage our firm’s strengths in business and consumer financial services, in transactional work and in litigation across multiple industries, enables us to better serve our clients’ needs.
Our clients are primarily commercial and consumer lenders and servicers, including bondholders, bond issuers, and financial lending institutions. We also represent creditors in all varieties of industries and businesses in all stages of Chapter 11 proceedings.
Additionally, our attorneys handle specialized foreclosure, collateral recovery, and lease termination matters for a range of clients, including maritime financiers, floor plan lenders, and manufacturers of heavy equipment and vehicles and their captive lending arms.
The mortgage foreclosure crisis and other economic events have underscored the need for a safeguarded financial strategy and a risk-conscious business approach. We guide our business and consumer creditor clients during all stages of the distressed loan maintenance and collection process, applying early mechanisms to ease future risks, and injecting a practical, business-minded perspective throughout out-of-court workout negotiations, loan modifications, and subsequent litigation, if necessary.
We counsel commercial and consumer lenders, secured and unsecured creditors, trustees, creditors’ committees, and student loan lenders in restructuring, bankruptcy, insolvency, and other lending-related matters.
Specialists on Our Team. Our financial restructuring, bankruptcy, reorganization, insolvency, and creditors’ rights team has earned accolades from the legal, business, and finance communities. Our team includes a Fellow of the American College of Bankruptcy, board-certified business bankruptcy attorneys and business reorganization specialists, and seasoned consumer bankruptcy attorneys. We are recognized in The Best Lawyers in America® and are active leaders and participants in the American Bankruptcy Institute, International Women’s Insolvency & Restructuring Confederation (IWIRC), and other professional associations.
Financial Restructurings and Out-of-Court Workouts. Attorneys on our team are experienced in various out-of-court situations, including complex negotiations and workouts, loan modifications, bondholder and bond trustee rights and strategies, forbearance and amendment issues, special situation lending and strategies, exchange offers, and distressed investments and divestitures. Our experience also includes non-bankruptcy court recovery litigation and receiverships.
Secured and Unsecured Creditors. We represent secured lenders, such as financial institutions, servicers, bondholders, bond trustees, floor plan lenders and others, in proceedings under all Chapters of the Bankruptcy Code, including debtor-in-possession financing, automatic stay relief matters, court-mandated mediation, loan modifications, and reorganization plan proceedings. We also represent secured lenders and special servicers in federal and state court collection and foreclosure actions and other creditor remedy proceedings.
We provide counsel to various unsecured creditors, including unsecured creditors’ committees in Chapter 11 proceedings as well as to trade creditors, credit card lenders, and other unsecured creditors in connection with bankruptcies and other insolvency matters.
Debtor/Creditor Litigation. Our team represents parties in fraudulent and preferential transfer defense, lender liability, and significant consumer-borrower litigation, including class actions and high-exposure single-borrower matters, and other debtor/creditor and insolvency-related litigation, including motions for contempt, objections to claims, and adversary proceedings.
Asset Sales. We assist clients in the acquisition of assets from debtors-in-possession or bankruptcy trustees and assist lending clients in the sale of their collateral through the bankruptcy courts.
Trustees/Fiduciaries/Receiverships. We represent indenture trustees in proceedings under the Bankruptcy Code, Securities Investor Protection Corporation (SIPC) trustees, and state and federal court receivers.
Equipment Lessors and Finance Companies. We routinely represent equipment leasing companies and equipment finance companies in bankruptcy cases and lease termination matters across the country. In addition, we have been successful in helping clients recover their collateral.
Student Loans. We provide defense of adversary proceedings by debtors seeking to discharge student loans, and related appeals.
Insurance Rights. We represent insurers and corporate clients with respect to insurance rights in bankruptcy cases and in insolvency proceedings under state law.
Compliance Advice. For both commercial and consumer lenders, we provide bankruptcy, foreclosure, and repossession compliance advice and assistance, such as with National Mortgage Settlement, Consumer Financial Protection Bureau (CFPB), state, and Uniform Commercial Code (UCC) requirements. We advise clients on the requisite bankruptcy language in letters and help with writing and implementation of policies and procedures. Our other compliance experience includes handling payments and treatments of loans, repossession notices, and accounting for payments.
Our attorneys have been involved in the largest bankruptcies in Louisiana, which include the bankruptcies of multiple casino and gaming companies; utilities; healthcare facilities and providers; real estate developers and developments; oil and gas service companies; automobile, truck, and equipment dealers; and numerous hotel, commercial real estate, and multifamily cases.