Foran Glennon Palandech Ponzi & Rudloff

Bankruptcy, Insolvency and Creditor’s Rights

Significant challenges are caused by both macroeconomic financial circumstances and issues specific to particular companies and organizations.  Knowing how best to respond can have considerable implications for our clients.  The Bankruptcy, Insolvency and Creditor’s Rights Group at Foran Glennon is well-equipped to assist clients in navigating the complex legal issues presented when bankruptcy and insolvency situations arise.

BANKRUPTCY

Our attorneys have extensive experience representing debtors, creditors, trustees, insurers, financial institutions and other parties in interest under all chapters of the Bankruptcy Code.  Armed with this significant experience, we are able to adapt to the varying needs of our clients in any restructuring or insolvency situation.  We monitor bankruptcy proceedings and evaluate whether any action taken by the debtor will affect our clients, and litigate to vindicate our clients’ interests, as necessary.

Our Bankruptcy, Insolvency and Creditor’s Rights Group provides representation to clients in defense of a wide array of bankruptcy matters, including litigation over plans of reorganization and sales of assets under Bankruptcy Code Section 363, preference actions, litigation related to fraudulent transfers, pursuit of nondischargability claims, applications for administrative claims, and various adversary proceedings.

BANKRUPTCY – INSURER REPRESENTATION

With experience in both bankruptcy and representing insurers, the attorneys at Foran Glennon are uniquely qualified to represent insurance companies when they are faced with bankruptcy issues as a result of their insured (or an additional insured) filing bankruptcy.  Our group represents numerous insurance companies in a wide variety of areas.  Our experience includes general liability, environmental, asbestos, mass tort, financial lines, first-party (priority, business interruption, lien issues), and professional liability (A&E, D&O).  We regularly represent insurers in protecting and enforcing their pre-bankruptcy contractual rights and litigating issues related to the rights of co-insureds and additional insureds, as well as the implications of self-insured retentions, deductibles, and collateral-related matters.  We participate in the bankruptcy proceedings to the extent necessary to protect the rights of insurance companies and assure insurance neutrality.  We are also able to draw upon the experience of the firm’s global insurance practice.

RECEIVERSHIP AND INSOLVENCY

Our attorneys play an active role in protecting the interests of our insurance clients when their insured is in receivership, or when the insured simply closes its doors.  In non-bankruptcy insolvency situations, several concerns arise, including evaluating the rights of multiple parties such as claimants, secured creditors, and court appointed receivers.  Insolvency creates concerns with respect to any pending claims, including preservation of evidence.  Our attorneys are hands-on and participate as necessary with the appropriate parties in all necessary forums, becoming actively involved in mediations and settling pending claims, when appropriate.  The dynamics can be complex and are constantly changing.  Our experience and qualifications can be utilized to best protect our clients.

CREDITOR REPRESENTATION

The Bankruptcy, Insolvency and Creditor’s Rights Group also represents banks, financial institutions and corporations in the enforcement of their rights.  Foran Glennon is experienced in serving as national coordinating counsel to protect contractual rights, enforce security interests and statutory liens.  We represent banks and financial institutions in judicial foreclosures, execution of sales of property, and appointment of receivers to sell collateral and maximize recovery to our clients.  We also have significant experience in commercial collections.

Regardless of the situation, the attorneys at Foran Glennon employ a business-oriented approach, providing practical, efficient, and effective results for our clients.