Foran Glennon understands that it is often a combination of macroeconomic circumstances and specific management and operations issues that can lead clients to financial distress. Our bankruptcy, insolvency and creditor’s rights group is deeply versed in the different levers companies can pull – and the implications of each – giving clients peace of mind as they navigate the complex legal issues of bankruptcy and insolvency situations.
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 nimbly adapt to our clients’ needs, monitoring bankruptcy proceedings, evaluating whether action taken by the debtor will affect our clients, and, when necessary, litigating to vindicate our clients’ interests.
Our bankruptcy, insolvency and creditor’s rights group defends clients in 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, our team is uniquely qualified to represent insurance companies faced with bankruptcy issues as a result of their insured (or an additional insured) filing bankruptcy. We represent insurance companies matters ranging from general liability, environmental, asbestos, mass tort, financial lines, first-party (priority, business interruption, lien issues) and professional liability (A&E, D&O).
We protect and enforce pre-bankruptcy contractual rights and litigate 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. By drawing on the experience of the firm’s global insurance practice, we are adept at managing bankruptcy proceedings to protect the rights of insurance companies and assure insurance neutrality.
RECEIVERSHIP AND INSOLVENCY
In the complex and dynamic world of receivership, 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, we help clients navigate the rights of multiple parties including claimants, secured creditors and court appointed receivers.
Because insolvency creates concerns with respect to any pending claims, including preservation of evidence, our attorneys are hands-on participants in all necessary forums, actively managing mediations and settling pending claims.
The bankruptcy, insolvency and creditor’s rights group 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 regularly 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.