Pharmaceutical, Medical Device and Healthcare Industry

Bankruptcy and Restructuring

Even successful businesses can encounter financial difficulties through no fault of their own. Perhaps a key supplier or a major customer has filed for Chapter 11 reorganization, or you learn of a customer’s financial problems just after making a significant shipment of goods on normal credit terms. Perhaps a trustee or a liquidating trust is now asserting a preference claim long after a bad debt has been written off when a customer filed for bankruptcy relief. Businesses regularly deal with these issues, and Butler Snow offers a full range of services to creditors in insolvency, creditors’ rights and bankruptcy proceedings.

Our bankruptcy and creditors’ rights practice began in the 1960s. Initially, the practice included representation of debtors and trustees, as well as creditors, in business reorganization and liquidation cases. After the Bankruptcy Code was adopted in 1978, the firm’s practice shifted toward representing institutional lenders, substantial trade creditors and committees. A substantial portion of our practice also relates to acquisition opportunities that arise in bankruptcy cases, as well as to the routine bankruptcy and insolvency issues faced by our clients on a regular basis. Recently, we resumed our representation of companies seeking to reorganize and restructure their operations.

Practice highlights

• During the past 15 years, our bankruptcy practice has become regional in scope, and we have represented creditors in bankruptcy cases from Texas to Delaware.
  
  
• The firm offers to lenders its substantial experience in workouts, problem loan restructuring and enforcement of both secured and unsecured loans.
  
  
• Preference litigation has increased significantly as well. When litigation becomes necessary, we offer commercial litigation expertise related to adversary proceedings and contested matters in bankruptcy cases, as well as for creditors’ rights or creditor liability issues.
  
  
• The head of the firm’s bankruptcy practice has been listed in the bankruptcy section of The Best Lawyers in America® for over 10 years and was recognized by Chambers USA, America’s Leading Lawyers for Business, and is a member of the American Bankruptcy Institute, the Association of Insolvency and Restructuring Advisors, the Turnaround Management Association, as well as the Mississippi Bankruptcy Conference.
  
  
• The firm boasts two former presidents of the Mississippi Bankruptcy Conference.
  
  
  For additional information on Bankruptcy and Restructuring, please contact Stephen W. Rosenblatt.