dcsimg Restructuring and Insolvency

Restructuring and Insolvency

In difficult financial situations, it pays to recognize the situation early and prepare a realistic strategy to handle the crisis. Whether a debtor or a creditor, the wisest first step is to talk to a law firm that understands the process and focuses on obtaining optimal results. McGuireWoods is that law firm.

Our Restructuring and Insolvency practice offers a balanced mixture of transactional strength and litigation experience. We represent debtors and debtors in possession, secured creditors and unsecured creditors' committees, as well as lenders and trustees in all types of debt restructuring, litigation and bankruptcy reorganization proceedings, including out-of-court workouts.

Representations range from large regional cases to those of national stature, and our practice extends across industry lines to include retail, transportation, real estate, manufacturing, telecommunications, and many other industries. Our clients include a variety of constituencies, including debtors in workouts and reorganizations, creditors’ committees, manufacturers and trade creditors, and financial institutions such as banks, hedge funds, private equity firms, bondholder committees and asset-based lenders.

We bring diversity of skill and experience to each bankruptcy or financial restructuring. Team members include business bankruptcy specialists who are certified by the American Board of Certification; members of the prestigious American College of Bankruptcy; and active members of regional and national industry organizations such as the American Bankruptcy Institute, International Women’s Insolvency and Restructuring Confederation, Turnaround Management Association, and others. In addition, several team members began their legal careers as judicial clerks for federal bankruptcy judges.

Because of our experience, geographic diversity, and size, our team has the skills to represent parties in bankruptcy anywhere in the United States. We achieve prompt results, because a speedy resolution reduces costs and preserves value. Unlike some firms that only talk about this type of experience, McGuireWoods has it. We have tried cases and argued appeals on bankruptcy sale issues, termination of pension plans, modification of retiree benefits, and other complex matters. Our willingness to undertake these issues, and our collaborative approach, enhances our ability to provide effective representation.

As lawyers within a 900-attorney firm, we have the resources of a full-service law firm with the targeted experience and personal responsiveness of a boutique bankruptcy firm. We work closely with other firm attorneys whose primary practices involve complex commercial litigation, labor and employment, corporate services, real estate, intellectual property, or tax and employee benefits, but who also have a fundamental understanding of bankruptcy law. Our transactional and litigation team members coordinate their efforts to yield the best business results for clients.

Significant Debtor & Trustee Representations

  • Workflow Management, Inc. et al.
  • Qimonda Richmond LLC in bankruptcy litigation against ABN and Kingston Technology International Ltd.
  • Diomed, Inc.
  • LandAmerica Financial Group, Inc.
  • Circuit City Stores, Inc.
  • S&K Famous Brands, Inc.
  • Greenbrier Hotel Corporation
  • US Airways Group, Inc.
  • AMF Bowling Worldwide, Inc.
  • Special Metals Corporation
  • Weirton Steel Corporation
  • Ward Products, Inc.
  • Brill Media Company, LLC
  • Motient Corporation
  • Heilig-Meyers Company
  • Pittsburgh Hockey Associates d/b/a Pittsburgh Penguins
  • biosys, inc.
  • Telesphere Communications, Inc.
  • The Austin Corporation - Trustee
  • Allegheny Health Education and Research Foundation - Trustee
  • Southeast Banking Corporation - Trustee
  • Healthco International, Inc. - Trustee
  • Best Products Co., Inc.
  • Adventist Living Centers, Inc.
  • Virginia Carolina Peanut Farmers Cooperative Association
  • Pittsburgh Food and Beverage - Trustee
  • Miller & Rhoads, Inc.

Significant Bank & Single Creditor Representations

  • Canadian-chartered bank as creditor and derivative counterparty in Lehman Bros. Chapter 11 cases
  • Secured lender (major automobile company) in Visteon Corporation Chapter 11 case
  • U.S. bank as administrative and collateral agent in the restructuring of $225 million of loans to a publicly held hospitality company
  • U.S. bank as exit lender in Chapter 11 case of auto parts manufacturer
  • U.S. bank as administrative and collateral agent in workout of $175 million of debt of a major dairy company
  • Canadian-chartered bank as defendant in litigation related to Stanford International Bank, Ltd.
  • DIP lender and majority equity holder in Heartland Automotive Services, Inc. Chapter 11 cases
  • DIP lender and majority equity holder in Nationwide Warehouse & Storage, Inc. Chapter 11 cases
  • DIP lender in WCI Steel Company and J&L Structural, Inc. cases
  • Canadian chartered bank as prepetition secured lender and adversary defendant in Enron Corp Chapter 11 case
  • Canadian chartered bank as prepetition lender and adversary defendant in Adelphia Communications Corporation Chapter 11 case
  • Bank lender in Bethlehem Steel Corporation Chapter 11 case
  • Bank lender in Family Golf Centers, Inc. Chapter 11 case
  • Bank lender in Carbide-Graphite, Inc. Chapter 11 case
  • Bank lender in F.A.T.S. loan workout
  • Bank in Open Plan Systems, Inc. Chapter 11 case
  • Bank lender in Safety-Kleen Corp. Chapter 11 case
  • Bank lenders in numerous real estate loan workouts and bankruptcy filings
  • Large unsecured creditor in FLYi, Inc. Chapter 11 case
  • Several unsecured creditors in Calpine Corporation Chapter 11 case
  • Several unsecured creditors in WorldCom, Inc. Chapter 11 case
  • National bankruptcy counsel to telecom company
  • National bankruptcy counsel to diversified security and fire protection company

Significant Committee Representations

  • U.S. Energy Biogas Corporation
  • Rowe Furniture Company, Inc.
  • Three A’s Holding, LLC (d/b/a Tower Records)
  • CEP Products, Inc.
  • Pittsburgh Brewing Co.
  • Aerobox Composite Structures, LLC
  • Bronco Hazelton Co.
  • Global Industrial Technologies, Inc.
  • North American Refractories Co.
  • A.B. Dick Co.
  • Ormet Corporation
  • NTELOS, Inc.
  • Vanguard Airlines, Inc.
  • National Spa & Pool Institute
  • Trak Auto Corporation
  • Fas Mart Convenience Stores, Inc.
  • Schwinn Bicycle Company

CONTACTS

Dion W. Hayes Partner T: +1 804 775 1144
Results 1-20 of 70
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RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

The Official Committee of Unsecured Creditors of a mobile marketing company

Serving as counsel to the UCC for six bankruptcy cases pending in Delaware.
Representative Matter

Compliance.

Counseled a client through corporate restructuring and successful implementation of a comprehensive ethics program in response to government investigation.
Representative Matter

Fortune 100 financial institution

Representation of a Fortune 100 financial institution in connection with urgent and significant bankruptcy and foreclosure litigation across the country involving our client's role as servicer for consumer mortgage loans. We are one of only a handful of large law firms engaged as national counsel.
Representative Matter

Fortune 100 financial institution

Representation of a Fortune 100 financial institution in connection with urgent and significant bankruptcy and foreclosure litigation across the country involving the institution's role as servicer for consumer mortgage loans.  
Representative Matter

Multinational banking and financial services company

Representation of a multinational banking and financial services company in bond restructure as follow up to chapter 11 case.
Representative Matter

State finance authority

Representation of a state finance authority in a matter involving a lender’s attempt to release a borrower and its related corporate entity, which had filed for bankruptcy, from a guarantee for a loan in which the authority had participated. This matter, which concerned the relative rights and powers between a lender and its participant, was settled favorably and our client received over 97 percent of the repurchase calculation.
Representative Matter

International grocery stores

Secured a win in the U.S. Court of Appeals for the 4th Circuit. The team represents the receiver in a federal court receivership action concerning a number of international grocery stores in the mid-Atlantic region. Dismissal of the appeal was a significant victory for the client because it allowed the sale proceeds to remain in the receivership estate and prevented litigation involving the buyer and other third parties that would likely have resulted if the sale of the store was reversed on appeal.
Representative Matter

Media group

Representation of media group in the wind-down of its operations following the sale of the majority of its assets to various purchasers. Relationship began as emergency response to a court order freezing company assets and continued as general assistance including negotiations with trade vendors, landlords, and subtenants.
Representative Matter

Real estate company that invests in, develops, acquires, and manages multi-family residential properties

Representation of eeal estate company that invests in, develops, acquires, and manages multifamily residential properties as defendant in fradulent transfer action brought by a trustee of American Housing Foundation. We successfully negotiated a fair settlement and avoided trial.
Representative Matter

Chapter 7 trustee

Representation of a Chapter 7 trustee in 17 adversary proceedings, including more than $7 million in fraudulent transfers. Favorable settlement reached.
Representative Matter

AMF Bowling Worldwide, Inc.

Representation of AMF Bowling Worldwide Inc. in its post-Chapter 11 bankruptcy merger with Bowlmor to form new company Bowlmor AMF.
Representative Matter

One of Chicago's largest banks

Representation one of Chicago's largest banks in a lawsuit brought by a commercial borrower alleging the bank caused more than $30 million in damages and the downfall of its company when the bank improperly declared an event of default under the loan documents, failed to approve an infusion of capital through mezzanine financing, tortiously interfered with prospective business relationships and wrongfully dishonored checks. After granting the bank summary judgment regarding breach of approximately $6 million in loans, the court entered judgment in favor of the bank on the borrower’s remaining claims after a bench trial that extended over the course of a year.
Representative Matter

Fortune 100 financial services company

Representation of Fortune 100 financial services company as the primary secured lender in the bankruptcy cases of two real estate holding companies of a group of companies that the bank had been litigating against in state and federal court in Virginia. Obtained the appointment of a chapter 11 trustee in 2013, and are working with him to liquidate the real estate to satisfy the bank’s claim.
Representative Matter

One of the largest producers and transporters of energy in the United States

Representation and defense of an energy company in a $750 million alleged breach of contract case involving the termination of a coal supply agreement and related claimed lost profits, land reclamation and surface water treatment damages.
Representative Matter

National bank in portfolio workout

Representation of a national bank in foreclosure and Chapter 11 bankruptcy proceedings involving a failed mountain resort development and loans in excess of $20 million.
Representative Matter

Equity holders in workouts and bankruptcies

Representation of equity holders in real estate development bankruptcies.
Representative Matter

Lease assumptions and rejections in chapter 11 cases

Representation of both debtors and landlords in lease assumptions and rejections in chapter 11 cases, including representation of an institutional landlord of approximately 30 properties in foreclose on a Southwestern retailer restructuring debt under chapter 11.
Representative Matter

National bank in Chapter 11 residential real estate bankruptcy

Representation of national bank in Chapter 11 bankruptcy proceedings involving dozens of residential real estate developments.
Representative Matter

National lender in major hotel bankruptcy

Representation of lender in Chapter 11 of operator of 600 room hotel, successfully opposing cramdown and obtaining relief from stay. Represented lender in subsequent bankruptcy of land lessor to prior debtor, again obtaining relief from stay. In addition, representation of a trustee in bankruptcy of Midwestern publicly held limited partnerships with hotels undergoing Chapter 11 reorganization.
Representative Matter

Large retail tenant in General Growth bankruptcy

Representation of large retail chain tenant in General Growth Properties chapter 11 case.
Results 1-20 of 70
Results 1-25 of 58
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Ilene A Bailey Ilene A. Bailey
Counsel
7 Saint Paul Street
Suite 1000
Baltimore, MD 21202-1671

T: +1 410 659 4449
F: +1 410 659 4478
vCard
Barry Biggar Barry Peter Biggar
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 7010
F: +1 212 715 6270
vCard
Daniel F Blanks Daniel F. Blanks
Partner
Bank of America Tower
50 North Laura Street
Suite 3300
Jacksonville, FL 32202-3661

T: +1 904 798 3235
F: +1 904 360 6309
vCard
William J Boddy William J. Boddy
Associate
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1625
F: +44 20 7632 1638
vCard
Sarah B Boehm Sarah B. Boehm
Counsel
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 7487
F: +1 804 698 2255
vCard
Edwin E Brooks Edwin E. Brooks
Partner
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 3060
F: +1 312 920 3681
vCard
Jennifer Brooks Jennifer K. Brooks
Associate
1800 Century Park East
8th Floor
Los Angeles, CA 90067-1501

T: +1 310 315 8271
F: +1 310 956 3127
vCard
Thomas E Cabaniss Thomas E. Cabaniss
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 4733
F: +1 804 775 1061
vCard
Paul J Catanese Paul J. Catanese
Associate
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 750 3536
F: +1 312 920 3697
vCard
Douglas W Charnas Douglas W. Charnas
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 1757
F: +1 202 828 2980
vCard
Laurie Craig Laurie Craig
Counsel
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1696
F: +44 20 7632 1638
vCard
Dorothea W Dickerman Dorothea W. Dickerman
Partner
1750 Tysons Boulevard
Suite 1800
Tysons Corner, VA 22102-4215

2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 703 712 5387
F: +1 703 712 5242
vCard

T:+1 202 857 1721
F: +1 202 857 1737

Nancy Everett Nancy Godinho Everett
Associate
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 641 2084
F: +1 312 698 4542
vCard
Douglas M Foley Douglas M. Foley
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

World Trade Center
101 West Main Street
Suite 9000
Norfolk, VA 23510-1655

T: +1 202 857 1720
F: +1 202 828 3301
vCard

T:+1 757 640 3715
F: +1 757 640 3957

Lauren Ford Lauren A. Ford
Associate
7 Saint Paul Street
Suite 1000
Baltimore, MD 21202-1671

T: +1 410 659 4519
F: +1 410 659 4473
vCard
Shawn R Fox Shawn R. Fox
Senior Counsel
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 2165
F: +1 212 548 2150
vCard
Mark E Freedlander Mark E. Freedlander
Partner
EQT Plaza
625 Liberty Avenue
23rd Floor
Pittsburgh, PA 15222-3142

T: +1 412 667 7928
F: +1 412 667 7967
vCard
Nathan Greenberg Nathan S. Greenberg
Associate
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 2148
F: +1 212 715 6293
vCard
Patrick L Hayden Patrick L. Hayden
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 2163
F: +1 212 548 2171
vCard
Dion W Hayes Dion W. Hayes
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 804 775 1144
F: +1 804 698 2078
vCard

T:+1 212 548 2100
F: +1 212 548 2150

Sara F Holladay-Tobias Sara F. Holladay-Tobias
Associate
Bank of America Tower
50 North Laura Street
Suite 3300
Jacksonville, FL 32202-3661

T: +1 904 798 2662
F: +1 904 360 6317
vCard
David E Huffine David E. Huffine
Partner
300 North Third Street
Suite 320
Wilmington, NC 28401-4099

T: +1 910 254 3812
F: +1 910 254 3900
vCard
J. Trevor Johnston J. Trevor Johnston
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2246
F: +1 704 444 8730
vCard
Nick Kennedy Nicholas Robert Kennedy
Associate
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 4708
F: +1 804 698 2275
vCard
Payam Khodadadi Payam Khodadadi
Associate
1800 Century Park East
8th Floor
Los Angeles, CA 90067-1501

T: +1 310 315 8208
F: +1 310 956 3126
vCard
Results 1-2 of 2
Speaking Engagement

The 22nd Annual Southwest Bankruptcy Conference

Financing Strategies

September 5, 2014
Las Vegas, NV
Results 1-2 of 2
Results 1-7 of 7
Legal Alert

In re: Restivo Auto Body, Inc.

4th Circuit Rules Executed but Unrecorded Security Interest Has Priority Over IRS Tax Lien

November 17, 2014
Legal Alert

In re: Fisker Automotive Holdings, Inc.

Caveat Emptor For Distressed Debt Purchasers – Your Credit Bid Rights May Be Impaired!

March 17, 2014
Article

When the 363 Sale is the Best Route

Journal of Bankruptcy Law and Practice
Vol. 15, No. 2 (2006)
Results 1-7 of 7