Bankruptcy and Financial Restructuring

Overview

Arent Fox has an active and versatile national bankruptcy and financial restructuring practice. We believe that a broad, diverse and comprehensive bankruptcy and restructuring practice enhances and improves our ability to represent clients creatively and successfully in both transactional and litigation-oriented matters. Our resources and experience enable Arent Fox to be a leading presence and force in the bankruptcy world and restructuring business and to bring added value to the representation of our clients.

Arent Fox handles financial restructurings, recapitalizations, and bankruptcy-related and strategic litigation as well as distressed asset and corporate acquisitions throughout the country.

Arent Fox represents creditors’ committees, indenture trustees, bondholders, secured creditors, lenders and financing syndicates and providers of financing in bankruptcy proceedings in such industries as health care, airline, life sciences, manufacturing, retail, telecommunications, sub-prime lending, e-commerce and Internet, energy, restaurant, hotel and hospitality, medical technology, pharmaceuticals, construction, real estate, and equipment leasing and financing.

We frequently represent debtors in bankruptcy proceedings and acquirors of and investors in troubled, distressed and bankrupt companies and counsel boards of directors, management and shareholders.

Members of the Bankruptcy and Financial Restructuring Group are well-known in their field. Our lawyers are speakers and panelists at leading bankruptcy and distressed investing seminars and frequently publish articles on cutting-edge bankruptcy and restructuring topics and issues.

Arent Fox is recognized as a preeminent leader and we are ranked in respected industry publications such as Chambers, US News & World Report and The Deal's Bankruptcy Insider. Chambers ranked our Washington, DC bankruptcy and financial restructuring practice in Band 3. US News & World Report ranked us nationally in Tier 1 for bankruptcy litigation. We also received the following rankings from US News & World Report for our transactional bankruptcy and financial restructuring practice – nationally in Tier 3, in Washington, DC in Tier 1, and in Los Angeles in Tier 2. The Deal's Bankruptcy Insider has consistently ranked the firm No. 1 law firm for unsecured creditors committees – by the number of active cases. We also rank highly for bankruptcy-related M&A work. We won the M&A Advisor’s 2011 Turnaround Award for our work on behalf of The Walking Company. We helped this national footwear retail chain successfully emerge from bankruptcy. Arent Fox earned top honors in the “Chapter 11 Reorganization of the Year” (Lower Middle Market) awards category.

Two of our partners have significant experience dealing with the Pension Benefit Guaranty Corporation; are recognized as leading employment, employee benefits and pension bankruptcy attorneys in the nation; and are the editors of ABI’s Pension Manual: A Practical Guide to Pension Issues Arising in Business Bankruptcy Cases. Several partners have nationally recognized practices representing creditors committees in bankruptcy proceedings throughout the country, and two partners have a nationally recognized practice representing indenture trustees. Four of our partners and six of our associates have clerked for bankruptcy judges.

Arent Fox has a track record of demonstrated success and achievement. The following illustrates the depth and breadth of the firm’s bankruptcy practice:

• Representation of numerous official committees of unsecured creditors, including Contessa Premium Foods, Inc., Accredited Home Lenders Holding, Co., Insilco Technologies Inc., Planet Hollywood International Inc., Rock and Republic Enterprises, Inc., Impath Inc., eToys Direct, LLC, Point Blank Solutions, Inc., Fortunoff, LLC, Metiom Inc., Scient Inc., Earthshell Corporation, Tactica International Inc., TKO Sports Group USA Limited, Empire One Telecommunications Inc., MCE Television, Inc., Building Materials Holding Corporation, Cygnifi Derivatives Services, LLC, Cross Media Marketing Corporation, Lantis Eyewear Corporation, Protective Products Inc., Kleinert’s Inc., and Peninsula Hospital Center in bankruptcy proceedings
• Representation of an indenture trustee in the Dynegy Holdings LLC, Washington Mutual, Inc., TOUSA, Inc., Simmons Company, RH Donelley, Corp., Orleans Homebuilders, Inc., United Air Lines Inc., ATA Airlines, Plainwell Inc., Advanta Corp., Dana Corporation, Pliant Corporation, Silver State Bancorp, Maxxim Medical, Pac-West Telecomm, Inc., Vesta Insurance Group, Inc. and Lodgian Inc. bankruptcy proceedings
• Representation of significant dissident bondholders in Exide Technologies Inc. Chapter 11 bankruptcy proceedings
• Representation of a federal agency in the Global Crossing and Cone Mills bankruptcy proceedings
• Representation of acquirer of Globe Metallurgical Inc.
• Representation of acquirer of a distressed for-profit hospital
• Representation of debtor in bankruptcy proceeding of The Walking Company
• Representation of debtor in bankruptcy proceeding of The Siena Hotel Spa Casino
• Representation of Infinia Inc. (as skilled nursing facilities) in a successful bankruptcy reorganization
• Representation of debtors in numerous bankruptcy cases involving commercial, industrial, senior living and health care, residential and apartment projects, including many involving tax-exempt bond financing and nonprofit borrowers
• Representation of acquirer of a distressed manufacturing company
• Representation of Photocircuits, Inc. in out-of-court liquidation and wind down
• Representation of acquirer of a retail company
• Representation of banks and finance companies in workouts and litigations dealing with collateral protection and foreclosure, asset allocation and financing and intercreditor disputes
• Representation of claims buyers and traders in bankruptcy proceedings and related litigation matters including Enron and Worldcom

Arent Fox’s experience across diverse industries – telecommunications; health care; life sciences; food and drug; labor and employment; intellectual property; construction; corporate and structured finance; and media, sports and entertainment – is often critical to our ability to provide distinctive service. As part of a full-service law firm, the bankruptcy and financial restructuring practice can efficiently and effectively draw on highly experienced and sophisticated practitioners in each of these areas.

Rankings

Chambers 2011

Arent Fox maintains a strong regional presence and particular expertise in a range of issues relating to bankruptcy proceedings, such as employee benefits, pensions and construction, as well as matters involving the automotive sector. Highlights include the team's representation of a national coalition of auto dealers whose franchise agreements were rejected or terminated in the Chrysler or GM bankruptcies. The group also acted for Dietze Construction Group in its Chapter 11 filing. Mary Joanne Dowd leads the Washington, DC bankruptcy team. She is equally experienced in both debtor and creditor representations. Sources recommend her "sound judgment" and her "fantastic business sense in realistically estimating what you can actually recover."