Restructuring & Bankruptcy
Benesch’s Restructuring & Bankruptcy Practice Group represents corporations, creditor groups, lenders, committees, acquirers and other stakeholders in workouts, debtor-in-possession matters and distressed transactions nationwide. We have deep experience across all major roles in public, corporate and large private entity Chapter 11 cases, creditor compositions and other restructuring strategies. Our team provides comprehensive counseling and advocacy to clients involved in bankruptcy-related matters, whether as debtors, creditors or members of official committees of unsecured creditors.
The Restructuring & Bankruptcy Practice Group includes a growing team of attorneys based in Chicago, Cleveland, Columbus, New York and Wilmington who focus on bankruptcy and enforcement of creditors’ rights. Our East Coast offices in Wilmington and New York are strategically positioned for matters in key bankruptcy jurisdictions, allowing us to efficiently serve clients across the country.
The Restructuring & Bankruptcy practice is recognized by Chambers® and is ranked nationally in Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law by Best Lawyers® “Best Law Firms.”
We provide best-in-class service and practical guidance throughout the full restructuring lifecycle, beginning with pre-bankruptcy planning, continuing through debtor-in-possession financing requests and the sale or disposition of assets, and concluding with plan confirmation and estate wind-down.
Benesch’s Restructuring & Bankruptcy attorneys have substantial experience representing:
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Corporate debtors-in-possession and creditors’ committees in complex Chapter 11 reorganizations
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Borrowers and debtors in capital restructuring and Chapter 11 proceedings
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Lenders in syndicated and unsyndicated loan transactions and workouts
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DIP lenders, secured lenders and indenture trustees in distressed financings and restructuring negotiations
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Investors and acquirers of distressed businesses in both section 363 sales and non-bankruptcy transactions
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Landlords, trade creditors, contract counterparties and other unsecured creditor interests in large retail, consumer products, manufacturing, energy and transportation restructurings
This work includes representing institutional lenders in debtor-in-possession financings, adequate protection matters and exit strategies. The group’s skill set spans capital debt restructuring, loan workouts, creditors’ rights, sophisticated negotiation and, when necessary, commercial litigation.
Many members of the group hold leadership roles in the American Bankruptcy Institute (ABI) and frequently present to professional and trade associations on emerging issues in bankruptcy law. They also author articles addressing matters of importance to debtor corporations, creditors and other industry stakeholders.
Experience
- Representation of bidder in the United States District Court for the District of Delaware supervised sale of the shares of PDV Holding, Inc., the parent company of CITGO Petroleum, one of the largest refiners, transporters, and marketers of motor fuels, petrochemicals, and other industrial products in the United States.
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Represented the owner of a 264,000 square foot industrial property adjacent to North America's largest inland port, in a breach of lease lawsuit seeking possession of the property and damages against both the tenant and lease guarantors. After moving for summary judgment on our claim and defendants' affirmative defenses, we obtained an eviction order and $2,600,000 settlement secured by a lien on real estate owned by a lease guarantor. That settlement was then paid in full by the lease guarantor's sale of the liened real estate.
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Counsel to landlords in JoAnn Stores, Rite Aid, Ascena, JC Penney, Tailored Brands, Stein Mart, 24 Hour Fitness, Forever 21 and GNC.
- Representation of Chapter 11 debtors, including Reverse Mortgage Investment Trust, Inc., GenCanna Global USA, Inc., and ArtVan Furniture, LLC.
- Counsel to committee members in Artistic Holiday Designs, Inc., Wesco Aircraft Holdings, Inc., Rubio’s Restaurants and NextSport, Inc.
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Representation of a $100M+ revenue transportation company in an out-of-court restructuring involving multiple lenders.
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Representation of DIP lenders in IMG Holdings, Inc. and Planta, Inc.
- Advising an indenture trustee for multiple bond issuances in connection with a financially distressed senior living facility that resulted in a full refinance of existing bond debt.*
- Advising an indenture trustee/lender in connection with negotiating and favorably settling a dispute with a not-for-profit issuer and borrower with respect to all outstanding debt obligations.*
- Counsel to owners and senior management team in connection with the Chapter 11 cases of ATLS Acquisition, LLC (Liberty Medical) (Dist. Delaware).*
- Counsel to the debtors and debtors in possession, and subsequent plan confirmation, the Liquidating Trustee, in the Chapter 11 cases of EaglePicher Holdings, Inc. (S.D. Ohio).*
- Counsel to the debtors and debtors in possession in the Chapter 11 cases of All American Semiconductor (S.D. Florida.).*
- Counsel to the debtors and debtors in possession in the Chapter 11 cases of Flat Out Crazy, LLC (Flat Top Grill and Stir Crazy Restaurant Chains) (S.D.N.Y.).*
- Counsel to the debtors and debtors in possession in the Chapter 11 cases of In re Midway Gold US Inc. (Dist. Colorado).*
- Counsel to the debtors and debtors in possession in the Chapter 11 cases of The LoveSac Corporation (Dist. Delaware).*
- Counsel to the Official Committee of Unsecured Creditors in the Chapter 11 cases of In re Optima Specialty Steel, Inc. (Dist. Delaware).*
- Representing a commercial landlord in the Chapter 11 cases of New Creative Enterprises (S.D. Ohio).*
- Representing a leading end-to-end e-commerce service provider in asserting statutory warehouse lien rights and claims, and providing post-petition services, in connection with numerous Chapter 11 retail bankruptcies.*
- Representing the owner/lender of a cabinetry manufacturing portfolio company in the Chapter 11 cases of Luxe Cabinetry, LLC (C.D. California).*
- Representing the senior secured lender in the Chapter 11 cases of PowerPlus Electric, LLC (E.D. Kentucky).*
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Creditor representations in Powin, Crédito Real, JoAnn Stores, Invacare Corporation, Exide Technologies, Briggs & Stratton and Global Eagle Entertainment.
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Representation of creditors’ committees, including Yellow Corporation, Peer Street, Inc., Ruby Pipeline, L.L.C., Alto Maipo SPA, et al., SC SJ Holdings Inc., et al., The Hertz Corporation, et al., and Dura Automotive Systems, LLC.
- Representation of a variety of unsecured creditors’ interests in bankruptcy proceedings (landlords, credit card processors, executory contract counter parties).
- Representation of assignees in state court assignments for benefit of creditors.
- Representation of chapter 11 and chapter 7 debtors.
- Representation of chapter 11 debtors, including GenCanna Global USA, Inc. and ArtVan Furniture LLC.
- Representation of chapter 7 trustee in the J&M Sales, Inc., et al. bankruptcy proceeding.
- Representation of chapter 7 trustees and liquidating trustees.
- Representation of commercial landlords in chapter 11 and chapter 7 retail cases nationwide.
- Representation of defendants in a variety of adversary proceedings (avoidance actions and D&O litigation).
- Representation of DIP lenders in bankruptcy proceedings.
- Representation of individual committee members on official creditors’ committees nationwide.
- Representation of liquidating Trustee in the chapter 11 of DesignLine USA, Inc., et al.
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Representation of Official Committee of Unsecured Creditors as Delaware Counsel/Conflicts Counsel in the following:
- Ruby Pipeline, L.L.C., Case No. 22-10278
- Alto Maipo SPA, et al., Case No. 21-11507 (KBO)
- SC SJ Holdings Inc., et al., Case No. 21-10549 (JTD)
- The Hertz Corporation, et al., Case No. 20-11218 (MFW)
- Dura Automotive Systems, LLC, et al., Case No. 19-12378 (KBO)
- FTD Companies Inc., et al., Case No. 19-11240 (LSS)
- ATD Corporation, et al., Case No. 18-12221 (KJC)
- Charming Charlie Holdings Inc., et al., Case No. 17-12906 (CSS)
- Representation of official committees of unsecured creditors as lead or local/conflicts counsel.
- Representation of purchasers in section 363 sales.
- Representation of secured lenders in bankruptcy proceedings and out-of-court workouts.
- Represented the official committee of unsecured creditors as Delaware counsel in the Chapter 11 bankruptcy of Alto Maipo Spa, et al.
- Represented the official committee of unsecured creditors as Delaware counsel in the Chapter 11 bankruptcy of The Hertz Corporation, et al.
- Counsel to the largest non-insider unsecured creditor and member of the Official Committee of Unsecured Creditors in the chapter 11 case of In re Lapeer Industries, Inc. (E.D. Mich.).
- Delaware counsel to the Committee in FTD Companies bankruptcy.
- Delaware counsel to the committee in ATD Corporation bankruptcy.
- Special Litigation Counsel to the Chapter 7 Trustee of Jevic Holding Corporation.
- Counsel to the debtors and debtors in possession in the Chapter 11 cases of Atna Resources, Inc. (Dist. Colorado).*
- Delaware counsel to the committee in Charming Charlie Holdings bankruptcy in Delaware.
- Representing a leading steel and mining company in connection with asserting creditor rights, devising strategies for responding to suppliers and customers in financial distress, and defending preference actions in multiple jurisdictions.*
- Counsel to landlord in Charlotte Russe bankruptcy in Delaware.
- Counsel to landlord in Claire’s bankruptcy in Delaware.
- Counsel to landlord in Sears bankruptcy in New York.
- Counsel to landlord in Mattress Firm bankruptcy in Delaware.
- Counsel to landlord in Z Gallerie bankruptcy in Delaware.
- Counsel to preference defendant in Gulf Packaging bankruptcy in Illinois.
- Counsel to landlord in Gordmans bankruptcy in Nebraska.
- Counsel to landlord in Payless bankruptcy in Missouri.
- Counsel to landlord in Rue 21 bankruptcy in Pennsylvania.
- Counsel to secured lender and insurance premium financier in various bankruptcy matters across the country.
- Counsel to critical trade vendor in the Momentive Performance Materials bankruptcy in New York.
- Counsel to critical trade vendor in the UCI International bankruptcy in Delaware.
- Counsel to former employee defendant in Industrial Enterprises of America bankruptcy in Delaware.
- Counsel to former employee defendant in Washington Mutual bankruptcy in Delaware.
- Counsel to international transportation company and transportation trade group in Chapter 15 Hanjin bankruptcy in New Jersey.
- Counsel to landlord in the Fox & Hound bankruptcy in Delaware.
- Counsel to landlord in the Fresh & Easy bankruptcy in Delaware.
- Counsel to landlord in the Garden Fresh bankruptcy in Delaware.
- Counsel to landlord in the Haggen Holdings bankruptcy in Delaware.
- Counsel to landlord in the ITT Educational bankruptcy in Indiana.
- Counsel to landlord in the Phoenix Brands bankruptcy in Delaware.
- Counsel to landlord in the RadioShack bankruptcy in Delaware.
- Counsel to landlord in the Sports Authority bankruptcy in Delaware.
- Counsel to national construction company in turnover action in bankruptcy matter in Florida.
- Counsel to national manufacturing company in FDCPA action in bankruptcy matter in Arkansas.
- Counsel to preference defendant in the AFA Investments bankruptcy in Delaware.
- Counsel to preference defendant in the City of Detroit bankruptcy in Michigan.
- Counsel to preference defendant in the Exide Technologies bankruptcy in Delaware.
- Counsel to preference defendant in the Leading Edge Logistics bankruptcy in Delaware.
- Counsel to preference defendant in the SkyMall bankruptcy in Arizona.
- Counsel to preference defendant in the Standard Register bankruptcy in Delaware.
- Counsel to preference defendant in the THQ bankruptcy in Delaware.
- Counsel to the Committee in the iON Worldwide bankruptcy in Delaware.
- Counsel to the Liquidation Trustee in the DesignLine bankruptcy in North Carolina.
- Counsel to various transportation defendants in TransVantage bankruptcy in New Jersey.
- Special Counsel to the Debtors in the Constellation Enterprises bankruptcy in Delaware.
- Special Counsel to the Debtors in the Nortel bankruptcy in Delaware.
- Special Counsel to the Trustee in the LTC Holdings bankruptcy in Delaware.
- Represented the Ohio Casino Control Commission (OCCC) regarding the myriad issues arising as a result of the filings of chapter 11 bankruptcy petitions by Caesars Entertainment Operating Co.
- Representing a glass products manufacturer in its financial restructuring and recapitalization as a going concern.
- Counsel to committee member in Nordam bankruptcy.
- Counsel to creditors in PG&E bankruptcy in California.
- Counsel to the debtors and debtors in possession in the Chapter 11 cases of In re OGGUSA, Inc. et al. (E.D. Kentucky) (f/k/a GenCanna Global USA, Inc.). The Debtors were primarily engaged in the development of hemp genetics and the production and distribution of wholesale and white-label hemp-derived cannabinoid products, including CBD, to customers throughout the United States and internationally. The Debtors successfully conducted an expedited dual-track process to identify available alternatives for maximizing value under challenging circumstances and closed a section 363 sale of substantially all assets for consideration in excess of $75 million.
