Creditor Group Representation

Overview

When a company petitions for bankruptcy, there’s nothing more concerning that the potential impact the filing will have on its creditors. Protecting the value of your investment and the collection of rightful claims is of paramount importance.

Our bankruptcy and restructuring attorneys have the experience to guide creditors through the complex bankruptcy process and maximize their recoveries. Whether it be lenders, note holders, official creditor committees, trade creditors, or other creditor groups, we help our clients navigate the diverse interests in order to meet their respective objectives. We’re skilled at addressing the various interests and facilitating solutions to what can be at times opposing goals. We bring a common-sense approach to bankruptcy proceedings and will assert your rights in bankruptcy court. When issues cannot be resolved, we will litigate to maximize and protect the value of your investment.

We represent creditor groups both secured and unsecured across industries that include automotive, financial, oil and gas, food services, maritime, and telecommunications, among others. When necessary, we also call upon some of the services of our other disciplines such as real estate, finance, intellectual property, ERISA, tax, and more to handle other bankruptcy matters.

How We Can Help

  • Lien issues
  • Debtor-in-possession financing
  • Claim objections
  • Automatic stay provisions
  • Proof of claims
  • Dispute resolution
  • Petition filing
  • Plan of reorganization
  • Cash collateral use
  • Review of reporting requirements

What Sets Us Apart

  • Chambers USA noted we have a “stellar bankruptcy and restructuring team handling the full range of issues including Chapter 11 and Chapter 15 matters, as well as related bankruptcy litigation. Maintains a specialty practice advising maritime and transportation clients, and possesses significant knowledge of complex financing transactions.”
  • 2021 Chambers USA recognized the firm for Bankruptcy/Restructuring in Delaware and ranked us Band 1 in New York and Philadelphia (PA) & Surrounds.
  • Our bankruptcy practice ranked at the top of The American Lawyer’s Corporate Scoreboard.
  • Four of the team’s attorneys are fellows of the prestigious American College of Bankruptcy. One partner served as Third Circuit regent of the American College of Bankruptcy and another partner served as chairman of the American College of Bankruptcy Foundation and is a past chair of the American College of Bankruptcy.
  • Many members of the group write and lecture extensively on issues involving corporate restructuring and bankruptcy.

Experience

Creditors’ Committees of Unsecured Creditors In Diverse Bankruptcy Cases

  • Chisholm Oil & Gas, co-counsel to creditors’ committee in Chapter 11 case of oil and gas exploration and production company with approximately $517 million in prepetition debt (Wilmington, DE).
  • Welded Construction, counsel to unsecured creditors’ committee of general contractor in connection with approximately $1.7 billion of construction contracts relating to pipeline projects (Wilmington, DE).
  • Voegele Mechanical, counsel to creditors’ committee of construction sub-contractor in complex reorganization of both capital structure and multiple projects, obtaining par results for multiple tranches of unsecured debt in confirmed plan (Philadelphia, PA).
  • Horsehead Holding Corp., counsel to creditors committee in Chapter 11 case of producer of zinc-based products (New York, NY).
  • Kaiser Gypsum, counsel to creditors’ committee of gypsum manufacturer in channeling 14,000 asbestos related actions to a 524(g) trust and resolving in excess of $300 million in environmental liability (Charlotte, NC).
  • Performance Sports Group, counsel to unsecured creditors’ committee in Chapter 11 bankruptcy case of manufacturer of Bauer Hockey, Easton Baseball, and other performance sports equipment and apparel, in conjunction with parallel cross border CCAA proceedings in Canada (Wilmington, DE).
  • MSD Performance, counsel to creditors’ committee for specialty ignition system manufacturer in its chapter 11 rehabilitation (Wilmington, DE).
  • Nobex, counsel to creditors’ committee of development stage bio pharma company (Wilmington, DE).
  • American Safety Razor, co-counsel to creditors’ committee in consumer product manufacturer Chapter 11 cases (Wilmington, DE).
  • Friendly’s, co-counsel to creditors’ committee in the Chapter 11 of a full-service restaurant chain and ice cream manufacturer (Wilmington, DE).

Secured Lenders and Select Creditor Representations

Blank Rome represents creditors with secured positions at various levels to protect and preserve their positions and maximize their recovery in Chapter 11 proceedings and out-of-court restructurings.

  • Borden Dairy, counsel to agent of senior secured lenders in the bankruptcy of Borden Dairy Co., one of the nation’s oldest and largest dairy companies, whose estimated debts and liabilities range from $100 million to $500 million (Wilmington, DE).
  • United Sporting Companies, counsel to second lien lender in connection with intercreditor issues and DIP/cash collateral issues in a case involving a gun distributor (Wilmington, DE).
  • Cashman Equipment Corporation, counsel to largest secured lender and collateral agent and security trustee for collateral held on behalf of lenders to secure $142 million debt of international barge company in its Chapter 11 case (Boston, MA).
  • BCBG Max Azria Group, counsel to trade creditor and trademark licensee in the bankruptcy case of women’s fashion retailer (New York, NY).
  • AgFeed USA, co-counsel to senior secured creditors in international hog producer Chapter 11 (Wilmington, DE).
  • Le Nature’s, counsel to senior secured lender in the chapter 11 cases of a bottler and beverage company and related litigations over $805 million fraud (Pittsburgh, PA).
  • Perkins & Marie Callender’s, counsel to entities consisting of secured and unsecured noteholders in the Chapter 11 of family-dining and casual-dining restaurants (Wilmington, DE).
  • Tidewater, maritime and restructuring counsel to group of holders of $500 million senior notes in connection with negotiation of covenant relief and grant of mortgages in vessel and/or vessel-owning subsidiaries (New Orleans, LA).
  • Wet Seal, counsel to trade creditor and member of creditors’ committee in the 2015 bankruptcy proceeding of teen apparel retailer (Wilmington, DE).
  • Aéropostale Inc., counsel to trade creditor and member of creditors’ committee in the bankruptcy case of teen apparel chain (New York, NY).