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Bankruptcy, Restructuring and Workout

Overview

Our experience in bankruptcy, workouts, restructurings, and turnarounds, in combination with our expertise in commercial finance, brings a demonstrated track record of success to our clients navigating distressed situations in and out of court. Our lawyers represent a range of constituents, including borrowers and creditors. Our range of experience enables us to develop effective strategies for clients to achieve objectives efficiently.

Who We Represent
Our attorneys represent many different clients in the context of distressed situations requiring workout, restructuring, or bankruptcy, including: 

Lenders and secured creditors 

  • National, regional, and community banks, individually, as agents, and in consortia 
  • Life insurance companies and pension funds 
  • Mortgage warehouse lenders
  • Equipment lessors 
  • Loan originators, master servicers, and special servicers of commercial mortgage-backed securities (CMBS) 
  • Government agencies, including the Federal Deposit Insurance Corporation (FDIC), the Resolution Trust Corporation (RTC), and their servicers 
  • REITS, corporations, individuals, and other private lenders, including private equity funds and investors
  • Community development corporations 
  • Retailers 
  • Senior secured parties, mezzanine lenders, subordinate lenders, and unsecured parties

Borrowers, guarantors, and debtors

  • Public and private businesses and individuals 
  • Nonprofit entities
  • Parties involved in a broad range of economic sectors, including advertising, art and antiques, commercial real estate investment and/or development (for offices, industrial facilities, multifamily or affordable housing, nursing homes, hospitals, condominiums, and hotels), education, equipment leasing, health care, high technology, insurance, life sciences, manufacturing, mortgage lending, professional services, publishing/media, and telecommunications

Unsecured creditors/vendors/customers/investors and other constituencies 

  • Landlords and tenants affected by the bankruptcy proceedings as third parties 
  • Creditors’ committees (both formal and informal)
  • Purchasers of assets and businesses from distressed companies
  • Charitable organizations collecting on pledges 
  • Credit support parties in bond transactions 
  • Parties involved in assignments for the benefit of creditors 
  • Parties involved in state or federal court receivership proceedings 
  • Parties involved in conservatorship proceedings 
  • Turnaround consultants and other similar advisors 
  • Independent fiduciaries and indentured trustees

What We Do
Nutter helps clients formulate strategies, negotiate agreements, document deals, and otherwise facilitate the reworking of a distressed company or the collection of debts associated with a distressed enterprise. Our services include:

  • Preparing for insolvency and bankruptcy challenges and engaging during actual proceedings to protect rights
  • Navigating debtor-in-possession (DIP) financing and cash collateral issues, and advising on credit bidding and other issues arising in Section 363-sale transactions in both Chapter 11 and Chapter 7 proceedings
  • Advising on out-of-court proceedings, including UCC Article 9 secured party sales, assignment for the benefit of creditors (AFBC) transactions, and other out-of-court dispositions
  • Structuring of out-of-court compositions and arrangements 
  • Providing tax planning related to structured reorganizations and settlements

Bankruptcy Litigation
The attorneys in Nutter’s Bankruptcy Litigation practice have a proven track record and are well positioned to represent clients in bankruptcy court in Chapter 11 bankruptcy reorganizations, Chapter 7 bankruptcy liquidations, and Chapter 13 bankruptcy proceedings. We know how and when to take the appropriate actions and are dedicated to delivering optimal results to all clients.

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Representative Matters

Representative Matters

  • Represented a real estate company in foreclosure and purchase of distressed property

    Represented a real estate company that wanted to foreclose on and purchase a distressed property. Nutter managed to lift the automatic stay in bankruptcy, which facilitated the client’s ability to accomplish its goals at minimal expense.

  • Represented a group of borrowers in restructuring of four-property loan portfolio

    Represented a group of borrowers in connection with the restructuring of a four-property loan portfolio, which resulted in forbearance agreements and eventual amendment of the loan, providing workable terms and conditions for the borrowers.

  • Represented lender in restructuring and partial liquidation of $125 million real estate loan portfolio

    Represented a lender in connection with the restructuring and partial liquidation of a $125 million real estate loan portfolio involving multiple borrowers, 3 lenders, and assets throughout the U.S. Successfully worked out inter-creditor proceeds sharing agreement among lenders and forced liquidation of specified assets.

  • Represented a commercial bank as trustee for registrered holders of commercial mortgage pass-through certificates

    Represented a commercial bank, as trustee for registered holders of commercial mortgage pass-through certificates, resulting in the workout of a commercial mortgage loan and planned foreclosure of a hotel property in Northborough, MA.

  • Represented a real estate investment trust in disposition of its healthcare assets to various parties resulting in more than $1.6 billion in proceeds

    Represented a real estate investment trust in connection with the disposition of its health care assets to various parties, resulting in more than $1.6 billion in proceeds coming from the sales of facilities, negotiation of subordinate purchase money financing and inter-creditor agreements, assignments of loans, settlement of outstanding claims and lawsuits, and early payoffs of outstanding loans.

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