Corporate bankruptcy has evolved.
In the new economy, fewer businesses in distress are charting a course of traditional reorganization. Companies are taking advantage of cheaper access to capital and pursuing refinancings, restructurings, sales and acquisitions. We help them or their creditor constituencies explore options such as fast-paced Section 363 bankruptcy sales and other distressed investment strategies.
Our focus on industry nuances is a significant advantage. Financial restructuring solutions aren’t one-size fits all and are shaped by market and regulatory forces. We know the dynamics and players unique to a variety of industries—from real estate and financial services, to health care and manufacturing, to infrastructure and beyond. In all instances, our goal is to protect existing assets and unlock new value.
Our team is always focused on being high-level business counselors as well as legal advisors. We address operational inefficiencies, facilitate balance sheet restructuring, advance turnaround plans, draft agreements that guard against future risk and (when necessary) wind down and liquidate.
We help our clients focus on the future by taking a strategic approach to:
The New York Times | November 22, 2016
Boston partner and co-leader of the commercial litigation practice Jon Sablone is quoted in this article about a recent ruling in federal bankruptcy court in favor of Madoff fund investors.
Journal of Bankruptcy Law | October 01, 2016
New York City financial restructuring and bankruptcy partner Robert Christmas authored this column that discusses the importance of proper planning for health care entities to navigate the legal “shoals” of Bayou Shores and similar cases to arrive at a successful restructuring.
Reuters | August 17, 2016
This article focuses on Energy Future Holdings Corp, Texas’s biggest power company, request of a US bankruptcy court to allow the bulk of its operations to exit Chapter 11. The coverage notes that Energy Future faces stiff opposition from a group of creditors—including NP client American Stock Transfer & Trust Co. LLC—about how tax assets would be used in the power giant’s proposed spinoff of its major operating unit as the company kicked off the first half of its second attempt to exit bankruptcy. Boston financial restructuring and bankruptcy partner Rick Pedone is quoted and Boston global finance partner Amanda Darwin, Boston commercial litigation partner George Skelly, and New York City financial restructuring and bankruptcy associate Christopher Fong are listed among American Stock’s counsel.
Debtwire | July 29, 2016
Bankruptcy and financial restructuring partner Robert Christmas provides commentary in this feature story focused on Detroit's financial strength.
Law360 | July 08, 2016
Boston Financial Restructuring & Bankruptcy partner Lee Harrington authored this piece that discusses decisions suggesting that recipients of payments on securities and debt instruments have to carefully consider how broadly a court will apply the Section 546(e) safe harbor to protect these payments from avoidance and recovery by a bankruptcy trustee.
Rochester Business Journal | April 29, 2016
New York City Financial Restructuring & Bankruptcy counsel Chris Desiderio is quoted in this article about a U.S. Bankruptcy Court sale of Flour City Bagels LLC.
The Bond Buyer | April 28, 2016
New York City Financial Restructuring & Bankruptcy partner Robert Christmas is quoted extensively throughout this article about the future of pension obligation bonds in California in the wake of the San Bernardino and Stockton bankruptcies.
Law360 | March 09, 2016
The following coverage notes that GT Advanced Technologies Inc. can leave Chapter 11 with a reorganization plan that puts its exit lender in control of the reorganized business. Manchester Financial Restructuring & Bankruptcy partner Dan Sklar is identified as debtor counsel.
The Deal | March 09, 2016
This coverage notes that GT Advanced Technologies Inc. can leave Chapter 11 with a reorganization plan that puts its exit lender in control of the reorganized business. Manchester Financial Restructuring & Bankruptcy partner Dan Sklar is identified as debtor counsel.
The Deal | February 05, 2016
Boston Bankruptcy & Financial Restructuring partner Rick Pedone provides commentary in this feature story on the state of the supermarket industry in light of a number of brands shuttering outlets.
Forbes | December 22, 2015
New York City Financial Restructuring & Bankruptcy partner Robert Christmas provides third-party commentary on efforts by investors to emphasize recovery values in their credit work.
Governing Magazine | July 30, 2015
New York City Bankruptcy partner Robert Christmas provides third-party commentary about the impact of Detroit’s bankruptcy and the effect on future bankruptcy cases.
Debtwire | June 16, 2015
Bankruptcy & Financial Restructuring partner Mark Berman discusses a new municipal bankruptcy bill which would provide a statutory lien for general obligation bondholders at the municipal level.
Debtwire | May 26, 2015
This article discusses how the pricing of $600+ in general obligation bonds will test market confidence in the City of Chicago. Bankruptcy & Financial Restructuring partner Mark Berman provides commentary.
Law360 | May 19, 2015
New York City financial restructuring and bankruptcy counsel Chris Desiderio, Washington, DC, M&A and Corporate Transactions partner Mike Cooney, and associate Rob Trott and Boston partner and leader of the firm’s Bankruptcy & Financial Restructuring practice Victor Milione coauthored this column on important issues charitable fiduciaries should educate themselves on to avoid insolvency.
Coal Blog | March 31, 2015
New York City Financial Restructuring & Bankruptcy partner Dennis Drebsky authored this article on Chinese reliance on coal-based energy.
Law360 | March 06, 2015
San Francisco Bankruptcy & Financial Restructuring partner Lou Cisz authored this article discussing potential new legislation requiring California public pension funds to start divesting from their coal holdings.
The Bond Buyer | March 04, 2015
New York City Financial Restructuring & Bankruptcy partner Robert Christmas authored a client alert, “Legislative Advisory—California Senate Bill 222,” that is referenced in this article on the new California bill. The bill would add language to school district general obligation bonds to protect investors if the district goes bankrupt.
Financier Worldwide | March 01, 2015
Boston Financial Restructuring & Bankruptcy partner Rick Pedone provides commentary in this special report on managing cross-border restructurings and bankruptcies.
Debtwire | February 04, 2015
Boston Financial Restructuring and Bankruptcy partner Mark Berman is quoted in this article discussing the Board of Education of Atlantic City’s preparation of a plan to avoid a cash flow crisis for the 2014–2015 school year.
Law360 | November 26, 2014
Boston Bankruptcy & Financial Restructuring partner Mark Berman and Boston Global Finance associate Erik Schneider authored this column discussing what the municipal finance community can learn from analyzing the bankruptcy court’s formal written opinion of Detroit’s Chapter 9 plan.
Boston Globe | November 24, 2014
Boston Bankruptcy & Financial Restructuring partner Rick Pedone is quoted in this article discussing efforts to recover funds for the Chelsea Housing Authority, which suffered major financial loss under its former executive director. This is an ongoing pro bono matter for Rick and team.
Debtwire | June 11, 2014
Boston Bankruptcy & Financial Restructuring partner Mark Berman discusses the city of Stockton’s efforts to wipe out the secured claim of Franklin Templeton Investments, the city’s only dissenting creditor, through its amended plan of debt adjustment (PDA).
The Bond Buyer | May 12, 2014
This article notes Nixon Peabody’s representation of the Securities Industry and Financial Markets Association in an amicus brief urging the rejection of Detroit's bankruptcy exit plan. Bankruptcy & Financial Restructuring partners Mark Berman and Robert Christmas are SIFMA’s counsel.
The Bond Buyer | May 09, 2014
New York City Bankruptcy partner Robert Christmas provides third-party commentary on the City of Stockton, California’s plan to recover from chapter 9 bankruptcy.
Municipal Finance Journal | April 01, 2014
Boston Bankruptcy & Financial Restructuring partner Mark Berman discusses lessons learned from court decisions issued in recent chapter 9 municipal bankruptcy cases and what information about the potential consequences in bankruptcy analysts should be looking for when deciding whether or not to purchase a municipal security.
The Bond Buyer | March 20, 2014
New York City Bankruptcy & Financial Restructuring partner Robert Christmas discusses the ripple effects within the municipal bond market caused by Detroit’s proposed cuts to its general obligation bondholders.
Private Fund Disputes Alert | 11.23.16
Private Fund Disputes Alert | 03.17.16
Corporate Trust Alert | 07.08.15
Originally recorded June 18, 2015 | 06.22.15
Private Fund Disputes Alert | 05.26.15
12.02.14 | Boston, MA
02.27.14 | Chicago, IL