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Workouts and Restructuring

Workouts and Restructuring


Overview

As an alternative to bankruptcy, it is often advantageous to all parties to enter into a private contractual arrangement to reorganize, negotiate or restructure existing debt terms.  Due to the recent economic tide, the number of companies in this position has increased to unprecedented levels.  Smith Moore Leatherwood regularly represents both secured and unsecured creditors, creditors' committees, lenders, borrowers and debtors in such actions as: 

  • Asset Protection Strategies
  • Collateral recovery
  • Collections
  • Forbearance and restructuring arrangements
  • Individual Liability Concerns
  • Managed liquidation
  • Refinancing
  • Repossessions

Our understanding of sophisticated out-of-court restructurings includes corporate and securities law, creditor's rights,  real estate, land use, and environmental as appropriate.  We also offer strategic advice regarding the numerous tax consequences of such arrangements.  While we advocate a proactive business approach to managing the workout and restructuring process, we are well prepared should legal action become necessary.  Smith Moore Leatherwood’s litigation team regularly represents creditor and debtor clients in all phases of complex business litigation, including selected creditor representation in bankruptcy proceedings.  Our business attorneys work closely with our litigation and bankruptcy attorneys to provide seamless, efficient service in all areas of the restructuring and workout process, from the initial recognition and amelioration of risk in structuring and documenting a workout agreement, to working with clients to effectively negotiate the complexities associated with problem loans and transactions from both a business  and personal  perspective, to evaluating and exercising our clients’ rights and remedies in the event that the restructuring process gives way to the litigation process.

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