Representations in Workouts/ABC's/Other-Out-of-Court Restructurings

  •  Represented a 100-year-old warehousing business with hostile lender and achieved meaningful forbearance in the midst of litigation, allowing the company to eventually refinance its debt with a new lender.
  •  Helped guarantor, a seller of auto-parts, obtain consent of lender to finance an assignment for benefit of creditors and allow guarantor to conduct its own wind down, as opposed to liquidating inventory at fire-sale prices, thereby generating payment in full to lender and eliminating guarantor's liability.
  • Represented major commercial retailer with operations in over one dozen states in refinancing its existing $60 million line of credit (non-insolvency situation).
  •  Represented a lender in the work-out of a $12.5 million dollar credit with a nursing home owner operating facilities throughout Wisconsin, New Jersey, Indiana, Illinois and South Carolina, resulting in the satisfaction of the lender's indebtedness in full.
  •  Handled and successfully completed the restructuring of obligations of a motor fuel station operator with 29 locations throughout Illinois in a comprehensive workout of secured debt exceeding $10 million.
  •  Represented a number of not-for-profit enterprises in the municipal, charitable and educational realm. Each of these matters involved potential chapter 11 scenarios which were avoided by consensual arrangements reached with the primary lenders.