Overview
Business is risky. A host of reasons may cause companies to struggle and, in some cases, force a business restructuring or trigger an insolvency proceeding. For those on the unfortunate side of such situations, understanding the options available can be the difference between a second chance or shuttering operations or recouping an investment. For others, opportunities await those poised to acquire the distressed assets. Retaining a law firm with the capabilities to navigate the complexity of the laws governing business restructurings is critical.
McDermott Will & Schulte’s business restructuring group is a global team knowledgeable in all aspects of distressed transactions. We have experience—and a veritable track record—advising the full range of interested parties, domestically and internationally, from the debtors requiring relief to the interested stakeholders lining up to recoup their positions.
What distinguishes our team is our ability to provide seamless, global counsel, particularly for complex assignments that cross borders. We understand the application of the European Insolvency Regulation and the UNCITRAL model law, along with the US chapters 11 and 15 bankruptcy laws, and the assertion and enforcement of claims in numerous jurisdictions.
We advise clients on their rights, options and opportunities, including how troubled companies can utilize the legal process for a successful business restructuring and rescue package. We are also skilled in advising creditors to ensure they receive enhanced recoveries on their investments. And lastly, we counsel the savvy observer on how best to position itself for the opportunity to acquire troubled assets.
Germany
Leading directories recognize our offices in Germany for their ability to advise businesses extensively on all areas of law related to restructuring, reorganization, refinancing and insolvency, including matters with an international or cross-border component. Our team also helps shareholders, creditors and business partners of companies in crisis secure, pursue and enforce their interests. We have in-depth experience representing investors on the acquisition of companies before or out of insolvency, and assisting insolvency administrators in the handling of their fiduciary duties, particularly with respect to M&A processes and insolvency plan procedures, and in disputed enforcements of claims in Germany and internationally. We have advised clients in numerous industries, including the automotive, energy, health care, retail, sports, telecommunications, transportation and logistics sectors.
Healthcare
Healthcare bankruptcies are complicated, and require sophisticated advice. Drawing on our Chambers USA-recognized “Team of the Year” for health regulatory law and corporate restructuring lawyers, we provide health care clients—providers, institutional lenders and investors, and strategic buyers—with an interdisciplinary team that concentrates on distressed finance, restructuring, and merger and acquisition transactions in the highly regulated and ever-changing health care sector. Our focus is to provide practical and cost-effective advice to achieve tangible results that add value to the underlying transaction, whether a work-out, recapitalization or distressed sale transaction inside or outside of bankruptcy. We are particularly skilled in advising debtors and ad hoc and official committees in Chapter 11 health care cases.
Private equity
Our global business restructuring team is skilled at representing private equity firms and their portfolio companies with the acquisition or sale of distressed assets. In particular, we provide sophisticated strategic and legal advice to navigate the peculiarities associated with asset sales in Chapter 11 and 7 bankruptcy cases, UCC Article 9 foreclosures and out-of-court restructurings. We have had success with section 363 bankruptcy sales and are skilled at pursuing stalking horse status for clients. Similarly, clients rely on our experience when acquiring assets through a debtor’s plan of reorganization in Chapter 11 bankruptcy cases.
Cross-border investment
Whether you’re working on a deal in the U.S. or a cross-border transaction, with more than 150 lawyers across 20 global offices, we have the experience and capabilities you need to accomplish your objectives. In addition to helping our clients get deals done, we advise on tax issues, management incentive plans, health regulations, and multi-jurisdictional debt financing and restructuring.