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Chapter 11 - Creditors

Squire Sanders lawyers have represented creditors in the entire gamut of bankruptcy and restructuring matters. Our creditor clients include top-10 financial institutions and groups; senior secured, second lien and subordinated lenders; hedge funds and distressed debt investors; bond trustees and holders; landlords and equipment lessors; and general unsecured creditors.

We assist secured creditors in documenting, perfecting and enforcing their secured claims; restructuring and refinancing their loans; negotiating and documenting debtor-in-possession financing and the use of cash collateral; and litigating disputes over their claims and collateral. We have counseled countless clients whose interests have been adversely affected by the recent historic crashes in the subprime mortgage and housing markets. These include large collateralized debt obligations (CDOs) and institutional purchasers of mortgage debt.

We advise trade suppliers regarding their relations with financially distressed customers including issues such as credit enhancements, reclamation, offsets and recoupments, post-bankruptcy transactions and preference and other avoidance risks. We also advise specialized creditors and groups such as indenture trustees, governmental entities, public debt holders and employees on the unique considerations that apply to their relations with a financially distressed company.

We have represented creditors in nationally prominent Chapter 11 cases including Calpine, Refco, Inc., American Home Mortgage, Ownit Mortgage Solutions, Adelphia Communications, National Century Financial Enterprises, Loewen Group International, Boston Chicken, Inc., Advanced Marketing Systems, Levitz Furniture, Harvey Electronics, Ames Department Stores and PRS Insurance Group.

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