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Solutions for Creditors

Representation of Secured and Unsecured Creditors 

We represent private equity firms of almost every type. We assist our clients with workouts, restructurings, bankruptcy filings, receivership appointments, and foreclosures. We advise secured creditors in negotiating and closing transactions involving the creditors’ collateral, such as Section 363 sales or sales under a plan of reorganization. We assist clients with relief from stay proceedings to repossess collateral. Our attorneys represent secured creditors in litigation regarding secured status and value of collateral. We have significant experience regarding loan workouts and modifications, restructurings, forbearance agreements, bankruptcy alternatives, capital infusions, and alternatives for obligations in all stages of distress.

We regularly represent buyers of defaulted or distressed loans in bankruptcy court proceedings, receiverships, assignment for the benefit of creditors, and other litigation. We have been involved in the restructuring of all types of real estate loans, including commercial mortgage loans, construction loans, bridge loans, mezzanine loans, and preferred equity investments throughout the Southeast. 

Representation of Creditors' Committees

We have represented many official committees of unsecured creditors in Chapter 11 bankruptcies.  We focus on capturing value for unsecured creditors that otherwise would go to other constituents in the case.

In committee engagements, our goal is to create a legal structure that will result in a fair opportunity for the general unsecured creditors to share in the recovery, even in the most challenging of cases. Often this effort entails approaching secured lenders, purchasers of assets, and other constituents to negotiate for a recovery. When the representation of a committee requires litigation and advocacy, such as when it is necessary to take a firm stance in opposition to a proposed debtor-in-possession financing facility or sale transaction, we are prepared and experienced.

We also have broad experience in reviewing and analyzing business decisions leading to distressed situations, with the two-fold goal of keeping the players honest to promote maximization of value for creditors, and identifying whether potential causes of action (including those that may be paid through insurance) are available to unsecured creditors.

Purchasers and Sellers of Distressed Assets 

We routinely assist creditor clients during the Chapter 11 sale process.  Through a Section 363 asset sale, a debtor can shed assets quickly.  Those assets can include discrete assets, specific business units or substantially all the debtor’s assets.  Our firm has significant experience in navigating numerous clients through the sale process, either as purchasers, sellers, official committees of unsecured creditors, ad hoc committees, lenders, or parties in interest impacted by the sale. Often a sale process results in sale proceeds less than the secured debt, and our attorneys are experienced in advising the various constituents through such situations.

 

Waldrep LLP has the experience to handle any bankruptcy matter. Tom Waldrep has practiced commercial bankruptcy law for over 30 years, representing creditors, debtors, trustees, and committees in all types of bankruptcies. For nine years, Tom served as a United States Bankruptcy Judge. Now he regularly appears in bankruptcy courts throughout the Southeast. Jennifer Lyday and Francisco Morales together have practiced commercial bankruptcy law for over 10 years. The firm’s attorneys have successfully handled many bankruptcies, out-of-court workout agreements, foreclosures, and other proceedings under state law.

 

Waldrep LLP delivers superior client service with a reasonable fee structure. We strive to generate superior work product while billing our clients for fewer hours than our competition for comparable work. Our clients’ interests are our priority. If we waste time in pursuit of a solution, then our client has wasted money. Our experience and knowledge deliver exceptional value for our clients.

 

Waldrep LLP is not a full-service law firm. Rather, it is a boutique law firm that specializes in only a few areas of practice: business insolvency, commercial bankruptcy, and healthcare transactions. This specialization allows us to focus our energy and talent on helping clients with what we know best—bankruptcy and insolvency law.

 

Jennifer and I were co-counsel to the official committee of unsecured creditors appointed in a chapter 11 matter that had originally been filed in the District of Delaware.  Although Jennifer was the most junior team member, her outstanding work ethic and interpersonal skills made her our go-to for local practice and procedure.  Although the matter completed several years ago, Jennifer is my first choice for North Carolina counsel.

Cassandra M. Porter, CIPP/US, Senior Privacy Counsel, Americas, Cognizant Technology Solutions

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