Given the wide array of expertise required in bankruptcy and creditors’ rights matters, Shipman & Goodwin’s Bankruptcy and Creditors' Rights Team draws from both the firm’s transactional and business attorneys, as well as the firm’s commercial litigators.
Our team represents a wide variety of clients, including secured and unsecured creditors, lenders, equipment lessors, special servicers, landlords, tenants, insurance companies, franchisors, health care businesses, state and local agencies, software companies, retailers, and suppliers. We have particular expertise in representing institutions that serve in trustee and agent roles in defaulted domestic and international project financings and debt offerings.
We regularly represent our clients in bankruptcy cases throughout the United States. We have represented our clients in bankruptcy cases in more than thirty states, including in some of the nation’s busiest bankruptcy courts in California, Delaware, Florida, Illinois, New Jersey, and New York. We also represent our clients in civil litigation in state and federal court in Connecticut and many other jurisdictions, as well as in out of court workouts and restructurings. Our attorneys also advise parties in the context of bankruptcy involving contaminated real estate and environmental liabilities.
Often a bankruptcy and creditors’ rights legal representation is performed outside of the courtroom. We regularly represent both lenders and borrowers in out-of-court restructurings and workouts. We also advise our clients concerning the impact of bankruptcy and insolvency laws in their day-to-day businesses and in particular, when a customer, supplier, counterparty or other business entity may be experiencing financial distress.
When a bankruptcy occurs, we actively represent our clients in every aspect of these cases, including filing claims, serving on creditors’ committees, advising secured creditors and debtor-in-possession lenders, and negotiating plans of reorganization. In addition, as asset sales become a more important and prevalent aspect of Chapter 11 bankruptcy filings, we represent purchasers in connection with “Section 363 sales,” as well as other creditor constituencies affected by these sales.
Bankruptcy and Creditors’ Rights Litigation
While the representation of our clients in these matters can sometimes be accomplished outside the courtroom, litigation is nonetheless often a necessary part of a bankruptcy or creditors’ rights representation. We regularly represent our clients in a diverse array of bankruptcy litigation matters. For example, we defend our clients against claims by debtors and trustees seeking to recover fraudulent or preferential transfers. We also defend objections to our clients’ claims in bankruptcy cases. In individual bankruptcy cases, we represent our clients in adversary proceedings objecting to the debtor’s ability to discharge his or her debts. Finally, we are actively engaged on behalf of our clients in motion practice in the bankruptcy courts, such as seeking relief from the automatic stay, objecting to a debtor’s claimed exemptions, collateral valuation issues, and plan confirmation issues.
Our litigation experience extends far beyond the bankruptcy courts. We regularly represent our clients in litigation in state and federal courts throughout the country, as well as in arbitration proceedings, to enforce their rights as creditors. For example, we represent our clients in commercial foreclosure cases, including bringing claims to enforce the breach of “bad boy” clauses in non-recourse loans. We also represent our clients in business tort matters, collection litigation, breach of contract claims, and pursuit of other statutory and tort-based recoveries.