Due primarily to the firm’s long history of representing financial institutions, banks and other commercial lenders, lawyers in the Business Reorganization and Financial Restructuring Practice Group have extensive experience in the protection and advancement of creditors’ rights in insolvency situations. Our clients include institutional lenders, CMBS servicers, REITs, debt funds and other diverse businesses.
Often, the protection of a creditor’s rights requires filing a claim or taking some other action in a debtor's bankruptcy case. Just as often, however, creditors’ rights are protected outside of bankruptcy court by recourse to various state and federal laws such as fraudulent transfer and conveyance laws (based on either the Uniform Fraudulent Transfer Act or the Uniform Fraudulent Conveyance Act), the Uniform Commercial Code, title and lien recording statutes, laws regarding receiverships and assignments for the benefit of creditors, as well as various provisions of state corporation and business association laws.
Knowledge of the vast body of debtor-creditor law also translates into the ability to advise clients regarding business strategies and transactions, and to structure and prepare documentation for transactions or business programs in order to help identify and, where possible, limit the client's exposure to counterparty credit risk. Our lawyers are often called upon by clients to structure agreements in anticipation of a counterparty's bankruptcy, insolvency or failure to perform. These range from litigation settlement agreements to warehousing agreements, and from collateral trust to securities lending, swap and other derivatives transaction agreements. The Duane Morris team also handles all aspects of commercial loan workouts, bankruptcies, real estate finance and lender liability litigation, and commercial loan and real estate transactions.
For more information, please contact Meagen E. Leary, Wendy M. Simkulak or any of the practice members referenced in the Attorney Listing.