Workouts, Restructuring and Bankruptcy
Downes McMahon’s attorneys have extensive experience in both formal and out-of-court workout and insolvency proceedings, and have worked on some of the most prominent bankruptcy cases in the nation. We have represented lenders, trustees and other estate fiduciaries, creditor committees, debtors, insurers, landlords and general unsecured creditors. Our engagements have encompassed a broad spectrum of matters, including loan workouts, corporate restructurings, distressed asset sales, DIP financing, cash collateral disputes, intellectual property disputes in bankruptcy, assignments for the benefit of creditors and distressed debt trades, among others. We also have significant experience prosecuting and defending preference and other avoidance actions in bankruptcy, as well as representing parties to bankruptcy appeals.
Representative engagements of Downes McMahon attorneys include:
- Serving as counsel to a multinational bank in securing the appointment of a receiver in state court for real property assets securing more than $128 million in loans.
- Representing a multinational bank in connection with CIT Group, Inc. bankruptcy, one of the largest Chapter 11 bankruptcies in U.S. history.
- Representing liquidating officer of international contract manufacturer in pursuing avoidance litigation that resulted in multi-million dollar recovery for bankruptcy estate.
- Representing purchaser of market making business of Bernard L. Madoff Investment Securities LLC pursuant to Section 363 of the Bankruptcy Code.
- Representing distressed national dry cleaning chain in out of court restructuring that resulted in going concern asset sales that preserved hundreds of jobs throughout the country.
- Assisting Fortune 500 insurance companies in resolving coverage obligations in asbestos-related bankruptcy cases across U.S.
- Advising patent licensor in Delaware bankruptcy proceeding of corporate licensee.