BANKRUPTCY QUICK FACTS

Over 15 attorneys dedicated to bankruptcy/creditors’ rights, including:

    a fellow of the American College of Bankruptcy

    a former chief of the Tax and Bankruptcy Unit of the U.S. Attorney’s Office for the Southern District of New York

    current and past presidents of the Bankruptcy Bar Association

CREDITOR COMMITTEES

RCR Plumbing and Mechanical:
www.Venable.com/Creditors-RCR

 

HONORS AND AWARDS

Ranked in U.S. News - Best Lawyers "Best Law Firms," 2011 - 2017

    Tier 1 Litigation - Bankruptcy (National; Baltimore; DC)

    Tier 1 Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (National; Baltimore; DC; New York City)

Highly ranked in Chambers USA, Bankruptcy/Restructuring, Maryland, 2017

Two bankruptcy attorneys received Band 1 ranking from Chambers USA, Bankruptcy/Restructuring, Maryland, 2017

Law360 named practice chair Greg Cross to its annual list of MVP award winners in the Banking category

Group Chair Greg Cross is an American Lawyer 2010 "Dealmaker of the Year"

Named by The M&A Advisor as a Deal Team Member of the Chapter 11 Reorganization of the Year (Lower Middle Market)

Previously recognized by Law360 as having one of the top five bankruptcy practices in the United States

Five attorneys previously recognized as Best Lawyers in America – Bankruptcy and Creditor-Debtor Rights Law

 

CLIENT FOCUS

Debtors

Trustees

Official creditors’ committees

Ad-hoc committees

Lenders

Secured creditors

Unsecured creditors

Indenture trustees

Landlords

Investors

Purchasers

Stockholders

Advisors

Governmental units

 

REPRESENTATIVE CASES

As debtor's counsel:

    CRIIMI MAE Inc. (Co-Debtor and Special Litigation Counsel)

    In re Greater Southeast Community Hospital Corp.

    Iridium

    Mail Boxes, Etc.

    Smitty’s Building Supply Office

    Thornburg Mortgage

    US Office Products

As creditor's counsel:

    DBSI

    General Growth Properties (Coordinating Counsel for Secured Creditors)

    Howard Delivery Systems (Creditor’s Committee Counsel)

    Lehman Brothers Holding, Inc.

    SunCal Century City, LLC

    US Mortgage Corp. (Credit Union Ad Hoc Committee Counsel)

    Fleetwood Enterprises Inc. (Creditor's Committee Counsel)

Other retentions:

    Enron (Special Litigation Counsel)

    Magna Entertainment (Counsel to the State of Maryland)

    Nashville Senior Living (TIC Committee Counsel)

    In re New 118th LLC, et al. (Counsel to Chapter 11 Trustee)
 

Bankruptcy and Creditors' Rights

trusted guidance through sensitive negotiations


The process of restructuring or reorganizing a business can be daunting, and requires responsiveness, efficiency and a thorough knowledge of shifting laws and regulations. Venable knows this terrain well: our attorneys have been involved with some of the largest and most complex reorganizations in recent years.

Our team of attorneys helps guide troubled companies, debtors and creditors through the maze of substantive, procedural, interpersonal and practical issues that arise during a restructuring or reorganization. In addition to our vast experience in this area, we bring the knowledge of attorneys in other relevant firm practices—such as real estate, litigation, tax and regulatory—to bear in order to achieve results that help our clients meet their objectives.

We pride ourselves on delivering the kind of personal, focused attention normally associated with boutique firms, while possessing the deep knowledge, relationships and capabilities of a large law firm.

Our commitment to excellence has been recognized by national bankruptcy industry publications, and our group has received major plaudits for our growing book of work. In 2014, Law360 named practice chair Greg Cross to its annual list of MVP award winners in the Banking category.


BANKRUPTCY EXPERIENCE FROM COAST-TO-COAST

REPRESENTATIVE EXPERIENCE

Previously recognized by Law 360 as having one of the top five bankruptcy practices in the United States, Venable’s bankruptcy attorneys have been involved in a wide range of bankruptcy-related matters for a vast array of clients. As national bankruptcy counsel for major companies and financial institutions, we are constantly involved in complex bankruptcies, workouts and litigations throughout the country.

Coordinating counsel to the holders of more than $18 billion in debt in a significant real estate bankruptcy.

Our bankruptcy team maintains an active practice working on behalf of commercial real estate lenders and special servicers of CMBS trusts. We are coordinating counsel for more than $18 billion of secured debt in the General Growth Properties chapter 11 cases. We have also served as the lead counsel for the largest commercial real estate exposures held by the nation’s largest special servicers.

Leading the reorganization of a major financial services firm.

Attorneys in our group supervised the only successful reorganization of a financial services company in the United States, restructuring $2 billion of debt and returning 100% of equity value to the company's shareholders. We frequently advise financial institutions, hedge funds and private-equity investors on restructuring options and distressed debt investments.

Helping a leading telecommunications company restructure over $1 billion in debt.

In one of the largest bankruptcy filings by a telecommunications and satellite company, Venable’s bankruptcy attorneys co-led the restructuring of more than $1 billion in debt. We have also assisted in negotiating the transfer and assignment of numerous complicated telecom-related agreements under sections 363 and 365 of the Bankruptcy Code. Our team has also negotiated contracts and assisted with financing for companies in the telecommunications sector.

Experience with bankruptcy issues unique to the healthcare field.

Our team has developed particular experience in bankruptcy proceedings involving companies within the healthcare industry. For example, Venable has represented two Chapter 11 debtors in the reorganization of hospitals and nursing homes, represented a Chapter 7 trustee in the sale of a hospital and served as Chapter 11 trustee for a lifecare community. Our attorneys have also represented landlords and other creditors in numerous bankruptcy cases involving healthcare businesses.

Nationally recognized corporate counsel for REITs.

Venable attorneys are among the nation's leading counselors on corporate issues affecting REITs. We served as debtors’ counsel in the only successful bankruptcy filing by a REIT in the CRIIMI MAE bankruptcy, and currently serve as debtors’ counsel in the bankruptcy of Thornburg Mortgage. Our clients view us as a "go-to firm" for the evaluation of restructuring options when REITs face insolvency or contemplate bankruptcy.

Securing a landmark decision on behalf of a transportation company.

We have served as counsel to the unsecured-creditors committee of Howard Delivery Service, Inc., and obtained a landmark U.S. Supreme Court decision regarding bankruptcy priorities. Venable attorneys also regularly represent several of the country’s largest airlines, including handling the bankruptcy of a logistics company, cases involving ground-handling services, and financial products.

Counsel to financial institutions on agreements and complex financial instruments.

Our bankruptcy team is a leader on the interpretation of repurchase agreements, forward-swap instruments and commodity contracts for institutions across the nation. We have successfully litigated lawsuits and led negotiations with major financial institutions involving over-the-counter derivatives and other complex transactions. Further, we have litigated some of the leading cases on the applicability of Sections 555 and 559 of the bankruptcy code to repurchase agreements.

Advising automotive suppliers in negotiations and bankruptcy proceedings.

Tier 1, Tier 2 and other large automotive suppliers consult our team in forbearances, out-of-court workouts, assignments, and Chapter 11 filings. We have negotiated supply agreements and handled complex automotive litigation in Detroit and across the country. Our experience extends to advising on pension, labor and legacy costs for other companies in the automotive sector.

Recovering more than $1 billion in assets in the Enron bankruptcy case.

Venable has an established reputation for its experience in complex litigations arising in bankruptcy cases. Our bankruptcy attorneys are supported by a nationally recognized litigation practice composed of nearly 200 attorneys. For instance, as special litigation counsel for the Enron bankruptcy case, Venable recovered more than $1 billion of assets and was responsible for the decisions reported in Enron Corp. v. J.P. Morgan Securities Inc., et al., 325 B.R. 671 (Bankr. S.D.N.Y. 2005), an adversary proceeding against over 150 financial institutions and other defendants, and Enron Corp. v. Credit Suisse First Boston International, 328 B.R. 58 (Bankr. S.D.N.Y. 2005).

Keeping our clients out of the papers.

Not every great success is on the front page of the Wall Street Journal. Many clients define success in terms of successfully accomplishing a complex restructuring that never makes the news. In recent years Venable has led several of the country's most high-profile negotiations and, by making no news, achieved the greatest success for our clients.

Other notable experience:

In addition to the matters listed above, Venable attorneys have also:

  • served as Chapter 11 Trustee and counsel to the Trustee in one of the largest real estate bankruptcies filed in New York;
  • handled the out-of-court financial restructuring of Michael Jackson’s assets;
  • represented lenders asserting in excess of $1 billion in claims in the Lehman chapter 11 cases; and
  • represented an acquirer in the BearingPoint chapter 11 case.

Our bankruptcy team possesses the right blend of business and litigation experience to successfully manage bankruptcy and restructuring matters across a variety of industries. We bring attorneys to the table with strong financial and accounting backgrounds who assist clients in evaluating options and resolving complex debtor-creditor issues.

Our bankruptcy attorneys pride themselves on teaming with clients and their advisors to help them reach their goals as efficiently as possible.