Financial Restructuring & Bankruptcy



We protect and preserve value for companies in distress, protect creditor interests and uncover investment opportunities involving troubled assets — all with a vigilant focus on future growth.

Our approach

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:

  • Asset protection
  • Reorganization planning
  • Debt restructuring
  • Investor recoveries
  • Asset acquisitions and sales
  • Pre-bankruptcy counseling
  • Loan workouts and forbearance agreements
  • Asserting creditors’ rights in insolvency proceedings
  • Collateral liquidation
  • Real estate foreclosure modification and workouts
  • Avoidance litigation, including preference and fraudulent transfer actions

Who we work with

  • Debtors
  • Secured and unsecured lenders
  • Buyers and sellers of distressed businesses
  • Investors including private equity and hedge funds
  • Indenture trustees, domestic and off-shore collateral managers, administrative agents, and issuers
  • Creditor committees
  • Landlords
  • Equity holders and equity committees 
  • Company management
  • Equipment lessors
  • Non-debtor contract parties
  • Syndicators
  • Subordinated debt holders
  • Claim acquirers

Representative Experience

  • Represented Connecticut-based, nonprofit health care system, Lawrence & Memorial Corporation, on its acquisition of the assets of Rhode Island’s The Westerly Hospital and certain affiliated companies. This transaction was recognized in 2014 as “Healthcare/Life Sciences Deal of the Year” by M&A Advisor.

CARES Act Expands Restructuring Options for Small Businesses

Journal of Bankruptcy Law | July 14, 2020

Financial Restructuring & Bankruptcy practice group leader Victor Milione, partner Rick Pedone (both in Boston), and associate Christopher Fong (in New York City), contributed this article on the key changes made to the Small Business Reorganization Act that small businesses and lenders must understand.

Fight over releases stalls Level Solar's Ch. 11 hearing

Law360 | March 03, 2020

This article mentions Financial Restructuring and Bankruptcy partner Victor Milione in Boston and associate Chris Fong in New York City, who are representing two funds created by Level Solar as part of the shuttered company’s Chapter 11 plan.

Philly refinery owner fires back at Chapter 11 plan objections

Law360 | February 10, 2020

This article on the latest developments in a Delaware-based bankruptcy matter mentions Financial Restructuring and Bankruptcy partner Rick Pedone in Boston and associate Chris Fong in New York City as co-counsel for Point Breeze Renewable Energy LLC, which is objecting to the Chapter 11 plan proposed by a shuttered Philadelphia refinery.

Objections to Philly refinery Chapter 11 pile up as hearing nears

Law360 | February 05, 2020

This article mentions Boston Financial Restructuring and Bankruptcy partner Rick Pedone and New York City Financial Restructuring and Bankruptcy associate Chris Fong as co-counsel for Point Breeze Renewable Energy LLC, which is objecting to a proposed Chapter 11 plan for a shuttered Philadelphia refinery.

IN BRIEF: Bankruptcy judge puts off hearing on PES confirmation plan

Reuters Legal | February 04, 2020

This article about Philadelphia Energy Solutions’ (PES) Chapter 11 case mentions Boston Financial Restructuring and Bankruptcy partner Rick Pedone as co-counsel to Point Breeze Renewable Energy, an RNG Energy Company, in connection with its lease from PES to open a biofuels plan on the site of PES’ South Philadelphia refinery.

Chicago plans full-court press with investors this week

The Bond Buyer | January 08, 2020

This article on the city of Chicago’s efforts to close a $838 million budget gap mentions New York City Financial Restructuring and Bankruptcy partner Robert Christmas as STSC bond counsel for the city.

Justices cite Igloos, McDonald's in bankrupt brands case

Law360 | February 20, 2019

Boston Financial Restructuring & Bankruptcy partner Lee Harrington is mentioned in this article for his representation of Tempnology, a company whose decision to revoke its trademark license under bankruptcy law, is now before the U.S. Supreme Court.

Chapter 11 doesn't cancel TM contract, clothier tells high court

Law360 | December 11, 2018

Financial Restructuring & Bankruptcy partners Lee Harrington of Boston and Dan Sklar of Manchester and Complex Commercial Disputes partner George Skelly of Boston are mentioned in this story for their representation of Tempnology in an ongoing licensing suit, which is now before the Supreme Court.

High court to address rift on bankrupt brands' trademarks

Law360 | October 26, 2018

Boston Financial Restructuring and Bankruptcy partner Lee Harrington is quoted in this article about his representation of Tempnology in a trademark licensing case that was just taken up by the Supreme Court.

According to a recent study/survey … End-of-August 2018 edition

Modern Restaurant Management | August 29, 2018

This end-of-month roundup of top restaurant news includes highlights from Nixon Peabody’s Food, Beverage & Agriculture team’s quarterly Crystal Ball outlook report. Boston Financial Restructuring and Bankruptcy partner Lee Harrington, Los Angeles Corporate partner Ellie Altshuler, Rochester Corporate partner Tyler Savage, and Buffalo Complex Commercial Disputes associate Tracey Scarpello are quoted.

Ten years after Chapter 9 filing, Vallejo looks ahead

The Bond Buyer | May 17, 2018

New York City financial restructuring and bankruptcy partner Robert Christmas is quoted in this article about how things have changed over the last decade in the city of Vallejo, California, since filing for Chapter 9 bankruptcy in 2008.

Franchisee fraud: When fraud threatens a franchisor's good name

Journal of Corporate Renewal | April 30, 2018

Boston financial restructuring and bankruptcy partner Rick Pedone and New York City counsel Chris Desiderio authored this article about the steps and strategies franchisors and franchisee lenders must take to mitigate exposure to potential fraud.

When is Final, Final? Appeals from § 363(m) Findings

ABI Journal | April 04, 2018

New York City financial restructuring and bankruptcy counsel Chris Desiderio and Manchester financial restructuring and bankruptcy partner Dan Sklar are co-authors of this article analyzing two recent circuit court decisions that may have exposed a weakness in the bankruptcy court sale-and-approval process.

The State Of Post-Secondary Education in the US

New Hampshire Business Review | January 18, 2018

Manchester financial restructuring and bankruptcy partner Dan Sklar contributed this article on the challenges facing colleges and universities.

Chicago suburb follows city with securitization, bypassing junk rating

Bond Buyer | December 20, 2017

This article mentions Nixon Peabody for serving as special bankruptcy counsel to Chicago's Sales Tax Corporation.

How cash-strapped Chicago snagged a triple-A rating for its new bonds

Wall Street Journal | December 02, 2017

In this article on Chicago’s $3B bond sale, New York City financial restructuring and bankruptcy partner Robert Christmas is quoted for advising the city.

Chicago securitization bond pitch to investors begins in earnest

The Bond Buyer | November 13, 2017

This article lists Nixon Peabody as transaction counsel for the city of Chicago and its new highly rated sales tax securitization and quotes New York City financial restructuring and bankruptcy partner Robert Christmas.

Heavy debt crushed owners of Toys ‘R’ Us

Wall Street Journal | September 18, 2017

San Francisco financial restructuring and bankruptcy partner Lou Cisz is quoted in this article on the factors that led to retailer Toys ‘R’ Us’ bankruptcy filing.

Contacts

Victor G. Milione

Practice Group Leader, Financial Restructuring & Bankruptcy

vmilione@nixonpeabody.com

Phone: 617-345-1215

  • U.S. News/Best Lawyers “Best Law Firms” 2020 ranked as National Tier One in: Appellate Practice, Commercial Litigation, Corporate Law, Employment Law—Management, Energy Law, Franchise Law, Health Care Law, Labor Law—Management, Litigation—Construction, Litigation—Labor & Employment, Litigation—Real Estate, Mass Tort Litigation/Class Actions—Defendants, Patent Law, Public Finance Law, Real Estate Law, Securities Regulation, Tax Law
  • In addition, many Nixon Peabody practices received U.S. News/Best Lawyers Tier 1 rankings at the regional level in the following geographies: Albany, NY; Boston; Buffalo; Chicago; Long Island; Los Angeles; Manchester, NH; New York City; Providence, RI; Rochester, NY; San Francisco; and Washington, DC.
  • U.S. News/Best Lawyers metropolitan Tier 1 leader in  Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law in Boston and Manchester (2019)
  • M&A Advisor
    • Eighth Annual Turnaround Awards Healthcare/Life Sciences Deal of the Year
    • Restructuring Deal of the Year
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