Bankruptcy / Creditor's Rights
Kraemer Burns provides sophisticated, practical advice in all aspects of creditors' rights, bankruptcy, insolvency, and commercial law. We represent companies across a wide range of industries, including energy companies, equipment financing companies, landlords, property owners, franchisors and general unsecured creditors, as well as individuals in both debtor and creditor matters and serve as national bankruptcy counsel to several major companies. We represent our clients in all matters related to financial distress including corporate governance, business finance, insolvency related asset purchases and other distressed M & A, reorganizations and workouts, corporate acquisitions, commercial litigation, debtor-in-possession financing and complex credit and other financings inside and outside of bankruptcy and insolvency settings.
Our Bankruptcy/Creditors' Rights group aims to streamline negotiations and, where possible, achieve a consensual resolution. When necessary, however, our lawyers will not hesitate to enforce clients' rights in all facets of state and federal litigation, including enforcement of contractual rights, mortgage and lien foreclosure, contested bankruptcy sales, 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 and Creditors' Rights group are also frequent authors and lecturers on all aspects of commercial and insolvency law and our group includes a former judicial clerk with the United States Bankruptcy Court.
Bankruptcy and Insolvency
We provide clear, practical advice in bankruptcy and insolvency matters.
- For creditors, Kraemer Burns will protect and assert creditors' rights in the most economical and efficient manner possible, representing major secured and unsecured creditors and equity holders throughout all aspects of the restructuring process. We quickly and proficiently analyze rights and advise as to the best and most cost-effective manner by which to assert and protect rights of recovery.
- For companies in distress, Kraemer Burns is skilled at handling both traditional bankruptcy filings under Chapters 7 and 11 of the Bankruptcy Code as well as out-of-court workouts, wind-downs or liquidations under state law. Recognizing that timing is crucial, our lawyers promptly evaluate options to develop the best course of action.
- For those seeking to acquire assets through a bankruptcy sale, our group provides 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 Kraemer Burns' Bankruptcy/Creditors' Rights group have significant, results-oriented expertise representing 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 or consensual resolution of the matter when possible.
- Our attorneys prosecute commercial real estate mortgage foreclosure actions on behalf of secured lenders, handle applications for rent receivers when appropriate, and defend lender liability claims and other affirmative defenses to foreclosure as necessary.
- Our group represents secured creditors in seeking enforcement of their rights to collateral under the Uniform Commercial Code. 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 complimentary 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.
- We also counsel clients on the front end, before a crisis, to ensure their form contracts provide enforceable rights and remedies upon default.
- Kraemer Burns also applies its extensive bankruptcy and creditor rights' experience to its representation of trustees and creditors' committees in chapter 11 reorganizations and structured liquidations as well as receivers and other fiduciaries appointed under state law.
Commercial Law
Kraemer Burns's Bankruptcy/Creditors' Rights attorneys apply their broad-based interdisciplinary knowledge in the commercial law field to all manner of corporate law issues, including advising boards of directors and investigating such actions after the fact, asset sales and dispositions, secured transactions, loan and mortgage financings and other credit-related transactions.
Representative Matters
The lawyers in our Bankruptcy/Creditors' Rights Group:
- Serve as national bankruptcy counsel to several major corporations including a large, publicly traded energy company.
- Served as counsel to the debtor in one of the largest Chapter 11 casino bankruptcy cases filed in the District of New Jersey.
- Served as counsel to trustee in liquidation of bank holding company which was third largest bank failure in 2008. Representation included negotiation and coordination with government regulatory agencies investigating subsidiary bank failure including FDIC, SEC, OTS and IRS.
- Served as counsel to the trustee in the negotiation and eventual Federal court approval of litigated $13 million uniquely structured litigation funding financing facility. Litigation was condensed; briefing, discovery, depositions and evidentiary hearing were all completed over period of approximately 30 days.
- Served as counsel to the successful bidder/acquirer in asset purchases of: 48 acre, 29 tenant shopping center in Ocean County, NJ; a Fortune 100 company to acquire a critical manufacturing facility out of a competitor's Chapter 11 proceeding; the owner of a half interest in a world famous breeding stallion, when the co-owner of the stud was in bankruptcy, eventually bringing about a multimillion dollar sale of the stallion to a Swedish horse breeding syndicate; eight store leases from regional supermarket chain; intellectual property of name brand apparel company; nursing home chain; hair chemical company; availability solutions (disaster recovery) technology company (including antitrust issues). Transactions ranged from a few million dollars to almost $1 billion. Most representations had multiple bidders, required proactive litigation strategy and included contested hearings.
- Served as counsel to franchisors in dealing with potentially bankrupt franchisees to address the issues involved in terminating the franchise in relation to a franchisee's bankruptcy filing
- Served as counsel to the plaintiff and won summary judgment for over $400 million in contested ownership of tax refund which was affirmed in Third Circuit Court of Appeals.
- Served as counsel for the plaintiff in Successful resolution of multi-year complex litigation against United States in Court of Federal Claims in Washington, D.C. resulting in recovery of over $400 million tax refund (the amount sought in complaint plus interest).
- Served as counsel for the target company in complete vindication in litigated, nationally watched case of mortgage servicer subject to New Jersey Federal bankruptcy court show cause order concerning use of pre-signed certifications by client's outside law firm in relief from stay proceedings. Representation included nationwide internal investigation of client's consumer bankruptcy procedures, interviewing employees and reporting to bankruptcy court.
- Served as counsel for the plaintiff in the intervention and eventual settlement in mediation of complex director and officer state court litigation including resolution of competing claims to multiple towers of insurance over two policy years.
- Served as counsel to multiple financial institutions for transactions, financings, creditor rights matters and related litigation including drafting credit agreements and related documents; loan amendments and forbearances; post-default liquidation agreements, foreclosures; suits to recover amounts due from borrowers and guarantors; lender liability claims; and all matters in connection with bankruptcy cases.
- Served as counsel to creditor committees of: 150 year old laminating manufacturer; electrical distributor; printing company; e-calendaring software company; leading producer and supplier of ready mixed concrete and commercial general contractor.
- Served as counsel to body scanning technology company in UCC foreclosure of patents. Representation included drafting liquidation agreement and proactive risk management and corporate governance advice on duties/obligations to minimize transaction risk.
- Regularly defend all types of preference and fraudulent transfer bankruptcy litigation
Should you want to consider retaining Kraemer Burns in connection with protecting your rights as a secured or unsecured creditor, company that is in distress, or desire to acquire a company in bankruptcy give Raymond Patella a call.
