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Business Insolvency & Restructuring

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Diamond McCarthy attorneys have earned the respect of clients, the courts and even opposing counsel for our ability to handle all the complex aspects of business insolvency and bankruptcy, including workouts, restructuring and creditors’ rights matters.

In today’s economic climate, tight credit often precludes angel investors from rescuing troubled companies. As a result, many companies choose to liquidate through Chapter 7 filings, rather than attempt to operate under Chapter 11 arrangements. For debtors and creditors alike, the legal counsel they retain must offer the talent and skill required to move through liquation and recovery proceedings with expediency and efficiency. Our deep experience in bankruptcies, combined with our firm’s attractive value proposition, offers clients the ability to meet both objectives while receiving partner-level attention and participation. In one recent matter, Diamond McCarthy was able to wrap up Chapter 7 proceedings for a client in record time – within seven weeks of the filing date.

In Chapter 11 bankruptcies, our attorneys provide debtor and creditor counsel to develop workout, reorganization and restructuring plans to satisfy secured and unsecured creditors. We also provide counsel to take advantage of financing and investment opportunities that may arise. We have decades of experience in representing corporate debtors, both public and private, as well as company directors and officers, guarantors, creditor committees, ad hoc committees, secured lenders, Section 363 asset purchasers and other parties.

In addition to our bankruptcy and restructuring expertise, our bankruptcy litigation team is fully prepared to provide bankruptcy court support and pursue matters through litigation proceedings as circumstances warrant.

Over the past year, Diamond McCarthy has represented Perry Uniontown Ventures I, LLC, the owner of one of the largest landfills in the United States, in a Chapter 11 proceeding in the Southern District of Alabama. The company’s main asset is a state-of-the-art Subtitle D solid waste disposal facility that disposes of, among other wastes, fly ash generated as a byproduct of the combustion of coal. Diamond McCarthy’s team of bankruptcy restructuring and litigation professionals successfully litigated, negotiated and restructured the complex legal, financial and environmental disputes between the debtor, the indenture trustee, the operators and other parties in interests. Through these efforts – and against what appeared to be great odds at the commencement of the case – on Dec. 15, 2010, the debtor’s consensual plan of reorganization was confirmed.

  • Andrea Fischer, speaker at 28th Annual Bankruptcy & Restructuring Conference, Financial Advisors Tookbox (June 6, 2012)
  • Directors' Duties Change When Company is Distressed, Executive Counsel (March 2008) 
  • Fraudulent Transfer Remedies Available to Bank Holding Company Bankruptcy Trustees After Gramm-Leach-Bliley, 127 The Banking Law Journal 3 (January 2010) 
  • Constructing a Bank Holding Company Insolvency Model: Part II, American Bankruptcy Institute Journal (December 2009)
  • Constructing a Bank Holding Company Insolvency Model: Part I, American Bankruptcy Institute Journal (November 2009)
  • Andrea Fischer, panelist at 7th Annual NYIC/AIRA Joint Bankruptcy and Restructuring Event, Achieving Prompt and Efficient Confirmations:  Pre-Negotiated Plans, Pre-Packaged Plans and Plan Support Agreements (January 25, 2012)
  • Kyung S. Lee speaker, Elements of Preference - How to Win a Preference Action or Lose it, Panel Presentation at the Commercial Finance Association’s 66th Annual Convention, Chicago, IL, (October 21, 2010)
  • Kyung S. Lee speaker, Doing Hard Time in Delaware and New York – Ethical and Practical Issues for Bankruptcy Lawyers Appearing in Cases Outside of Your "Home" State, Panel Presentation at the National Conference of Bankruptcy Judges, New Orleans, LA (October 16, 2010)
  • Kyung S. Lee  co-author, Hurdles Trustees Face in Asserting Fraudulent-Transfer Claims Against Brokers In Short Sales, ABI Journal, (February 2010)
  • Establishing Bank Holding Company Insolvency: Lessons Learned from the Bank of New England Corporation Bankruptcy, 29 Banking & Financial Services Policy Report 1 (January 2010)
  • Kyung S. Lee one of three Program Chairs for Mass Tort Bankruptcy Updated - Recent Events and the Impact of the Supreme Court's Decision in Travelers v. Bailey, hosted by the National Conference of Bankruptcy Judges, Las Vegas, NV (October 21, 2009)
  • Kyung S. Lee co-author, Credit Bidding as Agent for the Bank Group: Dealing with the Issue of Unanimity, ABI Committee News, Volume 6 Number 5 (September 2009)
  • Kyung S. Lee speaks about advantages to avoiding Chapter 11 Bankruptcy through an out-of-court workout, Houston, hosted by CFO Tatum Partners, Houston, TX (July 28, 2009)
  • Kyung S. Lee and Jason M. Rudd co-authors, Revisiting the Propriety of Third-Party Releases of Non-Debtors, Appearing in the Norton Journal of Bankruptcy Law and Practice, Vol. 18, No. 4, 465, Published by West, a Thomson Reuters business (July/August 2009)
  • Kyung S. Lee presenter, The Outer Boundaries of Bankruptcy Court Jurisdiction: Are There Any? American Bar Association Spring Meeting, Vancouver, BC (April 16-18, 2009)
  • Kyung S. Lee presenter, Ethics for Transactional and Bankruptcy Attorneys, 2009 APIS Conference and Retreat, State Bar of Texas Asian Pacific Interest Section, Austin, TX (March 27-28, 2009)
  • Jason M. Rudd CLE presentation, BAPCPA Four Years Later, Houston Bar Association (January 8, 2009)
  • Unsteady Companies Must Prepare for Gathering Storm, Houston Business Journal (April 18, 2008)
  • Kyung S. Lee and Jason M. Rudd co-authors, The Implications of the Bankruptcy Reform Act of 2005 on the Ordinary Course of Business Defense in Preference Recovery Actions, Trial Evidence Journal (Summer/Fall 2005)