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Bankruptcy, Creditors' Rights and Commercial Law

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Overview

Connell Foley provides sophisticated, practical guidance in all aspects of insolvency law, creditors’ rights, and commercial law. We represent corporations across a wide range of industries, including financial services, real estate and insurance, as well as individuals in both debtor and creditor matters and serve as national bankruptcy counsel to a number of major corporations.

Our Bankruptcy, Creditors’ Rights and Commercial Law group aims to stream­line negotiations and, where possible, turn contested matters into consensual ones. When necessary, however, our lawyers provide vigorous advocacy in all facets of state and federal litigation, including enforcement of contractual rights, mortgage foreclosure, replevin actions, judgment enforcement, contested plans of reorganization, valuation hearings, the prosecution and defense of preference and fraudulent transfer actions, and the assumption and/or rejection of executory contracts and leases.

Lawyers in the Bankruptcy, Creditors’ Rights and Commercial Law group are also frequent authors and lecturers on all aspects of commercial and insolvency law and our group includes former judicial clerks with the United States Bankruptcy Court.

Bankruptcy and Insolvency

We provide clear, pragmatic advice in bankruptcy and insolvency matters.

  • For creditors, Connell Foley is recognized throughout the region for our ability to assert and protect creditors’ rights in the most economical and efficient manner possible, representing banks and other major secured and unsecured creditors and equity holders throughout all aspects of the restructuring process. We quickly and proficiently analyze claims and counsel as to the best and most cost-effective manner by which to assert and protect rights of recovery.
  • For companies in distress, Connell Foley is skilled at handling both traditional bankruptcy filings under Chapters 7 and 11 of the Bankruptcy Code as well as innovative out-of-court work­outs or wind-downs under state law. Recognizing that timing is crucial, our lawyers promptly evaluate options to develop the best course of action. 
  • For investors or other purchasers seeking to acquire assets through a bankruptcy sale, our group works closely with our Corporate and Business Law Practice Group to provide a streamlined approach to the acquisition — from initial drafting of the purchase agreement, through the bankruptcy auction process and eventual closing.

Creditors' Rights

The attorneys in Connell Foley’s Bankruptcy, Creditors’ Rights & Commercial Law group have significant, results-oriented expertise representing banks and other major secured and unsecured creditors and equity holders throughout all aspects of complex debtor-creditor disputes. We aggressively seek enforcement of contractual rights to curtail a lengthy litigation process, whether by prompt prosecution of claims to judgment or amicable resolution of the matter when possible.

  • Our attorneys prosecute commercial real estate mortgage foreclosure actions in both State and Federal Court on behalf of secured lenders and distressed debt investors, handle applications for rent receivers when appropriate, and defend lender liability claims and other affirmative defenses to foreclosure as necessary.
  • Our group regularly represents secured creditors in seeking enforcement of their rights to collateral under the Uniform Commercial Code by prosecuting replevin actions for the assembly and turnover of collateral. After possession is obtained, we assist with the liquidation and disposition of creditor-collateral through both public and private sales in compliance with the Uniform Commercial Code.
  • We have expertise in supplementary proceedings to recover and uncover a judgment-debtor’s assets and regularly assist creditors in all aspects of judgment enforcement including initiating actions under State-law fraudulent transfer statutes, the Uniform Commercial Code, and applicable State and Federal RICO and receivership laws.
  • Connell Foley also applies its extensive bankruptcy and creditor rights’ experience to its representation of trustees and creditors’ committees in chapter 11 reorganizations and structured liquidations.

Commercial Law

Connell Foley’s Bankruptcy, Creditors’ Rights and Commercial Law attorneys apply their broad-based interdisciplinary knowledge in the commercial law field to all manner of corporate law issues, including asset sales and dispositions, secured transactions, loan and mortgage financings and other credit-related transactions.

  • We are experienced in issues under the Uniform Commercial Code, including disputes arising from the sale of goods or leases governed by Articles 2 and 2A and secured transactions under Article 9.
  • Our group negotiates, drafts, and assists with implementation of letters of credit under both Article 5 and the International Chamber of Commerce (ICC) and has litigated extensively with respect to both payments systems and negotiable instruments under Articles 3, 4, and 4A. 
  • We also counsel on issues arising from transactions involving documents of title, including warehousemen issues and bills of lading and, as necessary, we assist with perfection of collateral interests in investment securities governed by Article 8 of the Uniform Commercial Code.

Representative Matters

The lawyers in our Bankruptcy, Creditors' Rights and Commercial Law Practice Group:

  • Serve as national bankruptcy counsel to a number of major corporations including one of the largest manufacturers of infant and toddler products and supplies in the United States and one of the largest providers of satellite services in the world
  • Represented one of the largest suppliers of merchandising, assembly, and installation services in the United States as a Chapter 11 debtor
  • Served as counsel to the debtor in one of the largest Chapter 11 hospital bankruptcy cases filed in the District of New Jersey
  • Represented one of the largest international manufacturers of automotive electronic components in General Motors, Lear and Visteon bankruptcy case
  • Represents a large real estate investment company in connection with its acquisition of a portfolio of distressed commercial mortgage loans
  • Represented one of the largest insurance companies in the United States in a complex, multi-million dollar exposure asbestos-driven Chapter 11 reorganization of a national sheet and tile flooring manufacturer
  • Represented successful stalking horse bidder in bankruptcy acquisition of major pigment and dye manufacturer
  • Represented leading importer of commodity and specialty foods serving the retail, food service, and industrial trades in multiple commercial breach of contract actions
  • Represented international manufacturer and supplier of pharmaceuticals in connection with lawsuit involving the sale of goods under New Jersey’s Uniform Commercial Code
  • Represented large manufacturer of printing products in connection with Quebecor Chapter 11 reorganization
  • Regularly defend all types of preference and fraudulent transfer bankruptcy litigation

News & Insights

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