Creditors
Squire Sanders lawyers have represented creditors in all types of restructuring and insolvency 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; asset-based lenders; pension trustees, 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/security; and litigating disputes over their claims and collateral/security. We have advised many clients whose interests have been adversely affected by the recent historic crashes in the subprime mortgage and housing markets including with regard to US 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, recovery of goods, offsets and recoupments, post-insolvency transactions, and preference and other avoidance risks. We also advise special interest creditors and groups such as pension fund and indenture trustees, governmental entities, public debt holders and employees on the unique considerations that apply to their relations with a financially distressed company.
In the United States, we have represented creditors in nationally prominent Chapter 11 cases including Lehman Brothers, General Motors, Chrysler, Madoff, 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.
In the UK, we have represented creditors in nationally prominent insolvencies including Cobra Beer, Magnus Properties (UK), Gamble Group, Devon Cider, Copper Dragon Brewery, Pointer Pet Foods, Thresher Group of Companies, Sigma Finance and Consort Homes Group.