Industry Expertise

Automotive – Squire Sanders lawyers have significant expertise in the automotive industry. We have represented major automobile manufacturers throughout the world as well as auto suppliers in a vast array of insolvency and restructuring matters. Members of our bankruptcy and restructuring group have significant experience both in and relevant to the following auto supplier restructurings:

• Directing EaglePicher Incorporated, a major auto supplier and conglomerate, in its successful Chapter 11 restructuring.
• Representing TRW Automotive in a number of bankruptcy-related matters nationwide, including issues involving suppliers or customers in Chapter 11.
• Significant experience in debt and equity capital markets transactions relevant to auto supplier restructurings.

Aviation – For more than half a century, Squire Sanders has helped the aviation and transportation industries stay on the move. Our aviation practice is one of the oldest and broadest among major US law firms and we have represented more than three dozen airlines in the United States and around the world. Our lawyers have played a central role in a number of airline restructurings throughout the United States, representing both companies and creditors’ committees. We have served as counsel to America West Airline (now US Airways) in its first Chapter 11 reorganization, as well as to National Airlines, a Las Vegas-based carrier. We served as counsel to the creditors committee of Mesaba Aviation, the largest regional carrier serving Northwest Airlines, in a highly successful reorganization in which creditors recovered 100 percent of their claims.

Chemicals – For decades, we have counseled chemical industry clients in bankruptcy, corporate, environmental, financing, litigation, regulatory and intellectual property matters. The increased number of industry restructurings have come as a result of dynamic industry factors including rising energy costs, deregulation, raw material price increases, tough competition and industry consolidation. We have the chemical industry background and depth of knowledge to advise you on opportunities and challenges wherever they occur, no matter the issue.

Energy – Our experience in representing energy clients dates back to 1892 – one of our earliest energy clients was the Standard Oil Company, whose successor remains a client. We have represented Standard Oil and BP in all aspects of the petroleum business including such historic projects as the Trans-Alaskan Pipeline. Our work in bankruptcy and restructuring in the energy industry includes serving as counsel to the Enron creditors committee and restructuring counsel to TECO-Panda involving the restructuring of more than US$3 billion in debt associated with the two largest natural gas-fired electric generation facilities and its pipelines.

Financial Institutions and Services – Our lawyers have substantial expertise in mergers and acquisitions, capital markets transactions, banking and securities regulation, and the full panoply of corporate, commercial and structured financing transactions. Our financial services lawyers regularly serve as lead capital markets counsel to several of the largest, most sophisticated financial institutions in the United States. We have substantial experience advising leading financial institutions in public offerings and private placements of equity, debt and hybrid securities in US and global markets. Most recently, we represented a top-10 US-based financial institution in the first issuance of new hybrid securities approved by the Federal Reserve Board and in the second issuance of mandatory convertible preferred securities approved by the Federal Reserve Board. Our financial services lawyers also routinely advise financial institutions in transactions involving derivative instruments including in the context of bankruptcy or insolvency of parties to derivatives transactions and in transactions involving other complex financial products. We also have substantial experience advising non-US banks in connection with the formation and operation of US branches. Distinguished by our global expertise in complex business transactions, we have earned top rankings for our banking and finance practice.

Food and Beverage – We have served as counsel to several large food and beverage companies in significant bankruptcy proceedings throughout the country. We have also served as company counsel in the restructuring of food retailers and restaurants including the world-famous Russian Tea Room in New York City. We have also represented the senior secured creditor in the reorganization of the Boston Chicken franchises.

Healthcare – Squire Sanders has helped restructure large, national healthcare enterprises such as hospitals and skilled nursing facilities. For example, we have served as company counsel to Phoenix Memorial Hospital, a critical provider to lower-income communities, and to Unison Healthcare, a national owner and operator of skilled nursing facilities. In the National Century Financial Enterprises Chapter 11 case, we represented the indenture trustee of US$2 billion in bonds. We represent several large financial institutions that are the senior secured lenders to two continuing care retirement centers in Alabama and Georgia. We have also represented operators and acquirers of large assisted living and skilled nursing facilities throughout the country.

Manufacturing – Global competition has been a particular challenge for US manufacturing companies. Tightening margins, increased labor, energy and raw material costs, shifting production demands, continued customer focus on quality improvement and optimizing inventory have all made it difficult for US-based businesses to compete. As a result, the number of bankruptcy filings and out-of-court restructurings continue to rise. We have assisted well known manufacturing companies with finding innovative and timely solutions to these challenges using our bankruptcy and restructuring expertise. Some notable matters handled in this area include:

• Restructuring counsel to EaglePicher Incorporated, one of the United States’ leading defense and automotive manufacturers.
• Restructuring counsel to Trussway Industries, a manufacturer of roofing materials and trusses for commercial and residential applications.
• Bankruptcy counsel to American Architectural Products, a nationwide manufacturer of vinyl and aluminum windows, doors and related fenestration products.
• Bankruptcy counsel to WCI Steel, an integrated specialty steel producer.

 

Professional Services– Squire Sanders lawyers have played active roles in a variety of bankruptcy and restructuring engagements involving professional service firms. We have represented clients in some of the largest law firm bankruptcies in US history including Finley, Kumble and Shea & Gould, and have represented the creditors’ committee in the reorganization of a prominent Ohio architectural and design firm. Our lawyers served as counsel for The Austin Company, an international construction engineering firm, in its Chapter 11 case.

 

Real Estate – Squire Sanders represents the gamut of parties involved in real estate restructurings. We frequently represent developers of commercial and industrial real property in restructuring matters throughout the United States. These restructurings often involve construction defect litigation and complex developmental financing vehicles. We are counsel to large public and private company homebuilders in their efforts to restructure their debt as a result of the historic downturn in the housing market in 2007. Our lawyers represent other substantial businesses impacted by the current subprime mortgage and real estate crises including in the Chapter 11 cases of American Home Mortgage and Ownit Mortgage Solutions. We have also served as restructuring counsel for the Kaiser Group, a multinational general contractor and for The Austin Company, an international construction engineering firm.

Retail – Squire Sanders’ experience in retail bankruptcies and restructurings is extensive. Our lawyers have served as counsel to secured lenders for a number of major department, furniture, electronics, clothing and sporting goods retailers including in the Chapter 11 cases of Federated Department Stores, Allied Stores, Levitz Furniture, Harvey Electronics, Steinberg’s and Van Leunen’s (All About Sports). Our debtor representations include Drug Emporium and Brendamour’s. We have represented large unsecured creditors, as members of the official committee of unsecured creditors, in the Phar-Mor and F&M Distributors Chapter 11 cases. We also assist landlords and other significant parties in some of the largest retail bankruptcies in the United States including Tweeter, Winn Dixie, Rhodes Furniture, Big Bear Supermarkets, Elder-Beerman Stores, LJ Hooker (Bonwit Teller and B. Altman) and Ames Department Stores.