Insolvency & Commercial Bankruptcy

Sullivan Hill has lawyers with extensive experience in the bankruptcy arena. The Insolvency and Commercial Bankruptcy practice group is well-known both locally and nationally for its extensive experience in the representation of creditors, debtors, trustees, creditors’ committees and receivers.

Our attorneys frequently advise clients in such diverse, yet related areas as creditors’ rights, bankruptcy, financial workouts and restructuring, judicial and statutory foreclosures, receiverships, and rights and remedies of creditors under Article 9 of the Uniform Commercial Code.   We have represented on a continuing basis virtually all of the Federal Bankruptcy Trustees in the San Diego and Las Vegas areas.  Our recognized command of these disciplines allows us to quickly assess the client’s needs, and suggest and implement an efficient and effective solution, even in the most complicated situation.

Small businesses struggling to survive the COVID-19 crisis may find relief in Subchapter V of Chapter 11 of the Bankruptcy Code, also known as the Small Business Reorganization Act of 2019. Our lawyers are well versed in this potential lifeline for small businesses and can assist clients to determine whether Subchapter V is a viable option. In fact, in April 2021, we confirmed the first Subchapter V Chapter 11 Plan in the Southern District of California.

Chapter 12 of the Bankruptcy Code, also known as the Family Farmer Relief Act of 2019, is intended to provide relief for family farmers, or those involved with a family fishing business, who have debt under $10 million. Our lawyers have experience in this area and can help clients navigate this intricate area of law.

Our integrated Insolvency and Commercial Bankruptcy group draws from several practice groups to provide comprehensive legal advice in this important area of the law.

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Loan Restructuring and Workout

Our attorneys specializing in insolvency issues and bankruptcy are well-known throughout the State.  The team can advise the owner, the developer or the borrower on the strategies that make the most sense when the real estate investment is struggling.  We have extensive experience in both transactional and insolvency/restructuring matters, and can advise the lender or the unsecured creditor on its rights and remedies. We have the experience to select the course of action that provides the best chance of success, but allowing flexibility when the facts change.

Trustee and Receiver Representation

Our attorneys regularly represent Bankruptcy trustees and state and federal receivers, with a full understanding of the capabilities that these officers of the Court enjoy.  The special expertise necessary to representing trustees and receivers allows our professionals to offer meaningful insights in all the related areas of insolvency problems.  We advise secured and unsecured creditors, lessors and lessees, agents for lending groups, and debtors in pre-bankruptcy planning, assignments for the benefit of creditors, reorganizations, liquidations, and other bankruptcy alternatives.  Our lawyers advise on insolvency planning and loan workouts, including advice regarding potential preferential and fraudulent transfers and lender liability.  We have seen all sides of each possible transaction or problem.

Litigation and Commercial Law

Our litigators handle the many disputes that arise in the bankruptcy context, including adversary proceedings in the Bankruptcy Court, litigation in State courts over creditor rights and representing the interests of secured and unsecured creditors in all sorts of insolvency settings.  We know how to litigate in all forums, including arbitrations, mediations and other assorted bankruptcy and non-bankruptcy forums.

Advising the Financially Troubled Business

Our lawyers have long advised large and small businesses facing financial difficulty, providing experienced representation to the distressed business both in the bankruptcy courts and in private workout arrangements. By providing experienced counsel in all phases of workout and Chapter 11 reorganization, including developing and implementing effective workout agreements and reorganization plans, we are able to assist our debtor and trustee clients with the decisions that are critical to saving troubled businesses.

Resolving Troubled Loans

Creditor clients normally face two primary concerns: getting paid and reducing future risk.  Our insolvency lawyers are experienced in strategies designed to implement operational plans and effectively reduce the likelihood of increased risk. We have broad experience in the negotiation and preparation of transactional and financing documents, workout agreements, deed-in-lieu agreements and forbearance agreements. We are also regularly involved in the filing and prosecution of judicial and non-judicial foreclosure proceedings, state and federal receivership proceedings, guaranty actions, adversary litigation (e.g., preferences, equitable subordination and fraudulent transfer litigation), debtor-in-possession financing motions, automatic stay relief motions and confirmation and cramdown trials. We routinely represent clients in connection with cash collateral motions, motions to dismiss, complex reorganization plans, bankruptcy court asset sales, and the assumption and assignment of executory contracts and leases. We may recommend the creation of strategic alliances among creditors, the negotiation of favorable loan terms, or the creation and presentation of pre-packaged or post-filing bankruptcy reorganization plans.

Acquiring Assets from Distressed Businesses

A business in financial difficulty often presents an opportunity for competitors or principals to acquire valuable business assets at distressed prices. Our insolvency attorneys have experience in representing purchasers of assets from distressed businesses, through emergency motions and traditional or “pre-packaged” reorganization plans, to maximize our clients’ business opportunities.

International Business

Our bankruptcy lawyers have specialized experience in counseling both foreign creditors on the procedural hurdles to obtaining favorable treatment of their claims in bankruptcy and in advising debtors and creditors in handling insolvency problems where the collateral is located in a foreign jurisdiction. The combination of our bankruptcy knowledge with the special international know-how ensures that our clients receive the highest quality legal service and technical knowledge needed to be competitive in the global marketplace.

Business Transactions

Our expert business attorneys and real estate transactional attorneys are always involved to properly handle the many sales and other asset dispositions that occur in the bankruptcy or ABC setting.   We frequently advise institutional lenders in secured and unsecured credit transactions, asset based financing transactions, construction and real estate development lending, and acquisition loans.  We have the expertise to prepare all the necessary documentation to effect all aspects of structuring, negotiating, documenting, closing, administering, restructuring and working out loan, lease and other transactions.

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on August 31 • by

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