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BUSINESS SERVICES

Bankruptcy & Creditors' Rights

Roetzel's insolvency attorneys excel in guiding clients through the complexities of financial restructuring, protecting assets, and maximizing recovery. We understand the cost-benefit analyses driving business decisions and the regulatory complexities of financial institutions. Our team develops customized strategies to safeguard clients' rights and identify the optimal path forward. We help clients implement practices to minimize credit risks and support collection efforts if defaults occur.

Our clients include major and community banks, credit unions, private equity funds, hedge funds, REITs, and other lenders to distressed companies. We also assist commercial landlords, equipment lessors, vendors, and businesses facing insolvent customers or tenants. Additionally, we defend against preference or fraudulent transfer actions, assist investors in distressed acquisitions, and negotiate with debtors and creditor committees in Chapter 11 cases.

REORGANIZATIONS AND LIQUIDATIONS

  • Develop Chapter 11 plans and disclosure statements
  • Litigate claims
  • Negotiate creditor composition agreements
  • Represent creditors' committee 
  • Represent debtors
  • Sell assets and going-concern businesses

BANKRUPTCY AND COMMERCIAL LITIGATION

  • Assume or reject executory contracts
  • Defend or prosecute fraudulent transfer actions
  • Defend or prosecute preferential transfer actions
  • Handle dischargeability actions

LOAN DOCUMENTATION AND ADMINISTRATION

  • Assign claims and collateral
  • Arrange debtor-in-possession financing
  • Handle forbearance and workout agreements and restated loan agreements
  • Manage secured transactions

CREDITOR REPRESENTATION

  • Handle cognovit actions
  • Represent creditors' committees
  • Handle discovery of assets
  • Manage foreclosures and receiverships
  • Handle reaffirmation
  • File replevin actions
  • Seek relief from stay

TAX CREDIT TRANSACTIONS

  • Resolve partnership disputes
  • Address termination issues
  • Manage chapter 11 - limited partnership agreements
  • Coordinated an orderly liquidation of a national chain of retail stores
  • Convinced a bankruptcy court to allow a British manufacturer to terminate an exclusive distribution agreement with its North American distributor after the distributor went into Chapter 11
  • Guided the successful "stalking horse" bidder through the purchase of an electrical transformer business from a Chapter 11 trustee
  • Counseled several creditors in the Enron bankruptcy case
  • Obtained relief from stay for several secured creditors in various Chapter 11 proceedings
  • Counseled insurers that provided product liability coverage to a medical device manufacturer, which later filed Chapter 11
  • Represented an equipment lessor in litigation over whether a lease was a true lease or an unperfected secured transaction
  • Assisted a Chapter 11 trustee's operation and sale of a printing business, which had several competing secured creditors, as well as labor issues
  • Represented the Ohio Department of Insurance and a court-appointed liquidator in concluding the affairs of an insurance company
  • Helped a Chapter 7 trustee liquidate a manufactured home dealership business, satisfy the claims of several floor plan financiers, and resolve the claims of over 100 unhappy home buyers
  • Served as the Securities Investor Protection Corporation trustee in the liquidation of a securities firm
  • Served as a receiver in the liquidation of a used industrial machinery dealer
  • Negotiated favorable settlements on preference claims and/or persuaded trustees/debtors to dismiss other such claims
  • Negotiated a cash settlement of a guaranty, combined with consent to a receivership for a housing development
  • Coordinated the care of and brokered the sale of an MRI unit for the benefit of a secured creditor, after the borrower defaulted and closed the business without arranging to care for the machine
  • Successfully mediated a federal lawsuit brought against out-of-state guarantors who originally denied any liability under the guaranties
Key Contact
John J. Rutter