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The lawyers in the Group have regular experience representing companies in distress, both in out of court workouts with secured lenders, in financial and operational restructurings, as debtors working through the Chapter 11 process, and as assignors in assignment for the benefit of creditor proceedings. Several lawyers in the Group have substantial “first chair” experience running major Chapter 11 debtor engagements. Womble Carlyle also has helped companies through issues that arise in receiverships, plans of arrangement, loan forbearance and extension agreements, deeds in lieu, guaranty and foreclosure litigation, and other non-bankruptcy workouts and restructurings.
We work with management and the company’s other advisors to define the critical path and the sequencing of actions from inception to closing on the desired restructuring, sale, or other resolution. Our process is flexible, and entails adapting and allocating resources based on team members’ proven strengths. Our company-side representation teams are de-leveraged and efficient. Team lawyers bring accounting and economics backgrounds to clients’ legal matters, contributing to a thorough understanding of their financial and performance metrics. In sum, we offer our clients cost-effective resolutions by creating compelling factual and legal narratives designed to win stakeholder support or consent and, where necessary, court decisions in contested matters and adversary proceedings.
In representing companies facing financial or operational challenges, our lawyers regularly function as transactional lawyers, negotiating and drafting reorganization plans, disclosure statements, bankruptcy financing documents, asset and stock sale agreements, real estate and personal property leases, license agreements, and management agreements. Additionally, while our first resort is always a deal-focused mindset, when litigation is required the Group will bring to bear its trial-tested litigation strengths.
We also handle sophisticated claims trading transactions and provide bankruptcy remote opinions regarding structured financings. In addition to being trained as litigators, our corporate restructuring lawyers are experienced in alternative dispute resolution, including arbitration and mediation.
The lawyers in the Group are well positioned to handle bankruptcy court proceedings or other court appearances on behalf of companies nationwide. Our team has handled various types of Chapter 11 matters before multiple bankruptcy courts, as well as litigation and bankruptcy-related appeals before federal District Courts and federal Courts of Appeals. The team has professionals throughout the Mid‑Atlantic and Southeastern United States and a large concentration of professionals in the firm’s Wilmington, Delaware office, one of the most common jurisdictions to preside over Chapter 11 bankruptcy proceedings, receiverships, assignments for the benefit of creditors, and other litigation arising from issues faced by underperforming companies. Our lawyers are well-known to the Delaware bankruptcy bench and bar, government officials, and business leaders in the state.