Cox, Castle & Nicholson has considerable experience in representing secured creditors, landlords, and tenants in bankruptcy matters. Our representations have ranged from the simple single asset real estate case to the more complicated multiple asset/operating business cases.
Relief From Stay
In today's world, most real property financing is made to a single purpose entity. The 2005 changes to the single real estate entity provisions in the Bankruptcy Code resulted in these provisions applying to all single purpose entities, regardless of the size or value of the property. We have represented numerous secured creditors in obtaining relief from the automatic stay in these types of bankruptcy cases, or in appropriate circumstances, having these cases dismissed as a bad faith filing.
Cash Collateral And DIP Financing
One of the first battles in a bankruptcy case involves the debtor's use of cash collateral because a debtor usually needs revenue generated after the bankruptcy case is filed to operate. We have extensive experience in negotiating and documenting stipulations for the use of cash collateral and in litigating cash collateral issues in the absence of a stipulation. We have addressed these issues both in operating business cases, as well as real estate cases. We have also represented post-petition, debtor-in-possession lenders and are knowledgeable about the current status of the protections that can be achieved in the order approving the financing.
Plans Of Reorganization And Asset Sales
The goal in any Chapter 11 case is for the debtor to confirm a plan of reorganization or a plan of liquidation. We have, on behalf of secured creditors, negotiated consensual plans of reorganization. When negotiation has failed, we have fought confirmation of a plan successfully, including by objecting to disclosure statements, moving for the appointment of a Chapter 11 trustee, proposing a competing plan, purchasing claims of other creditors in order to block confirmation, and objecting to confirmation. We have litigated all confirmation issues including the new value exception to the absolute priority rule. We also have considerable experience in assisting clients that wish to purchase assets out of a bankruptcy outside of a reorganization plan.
DIP Financing And Asset Sales
We have represented post-petition, debtor-in-possession lenders and are knowledgeable about the current status of the protections that can be achieved in the order approving the financing. We also have considerable experience assisting clients that wish to purchase assets out of a bankruptcy.
Our experience is not limited to representing borrowers or lenders. We have considerable experience representing landlords in negotiating favorable terms for the rejection or the assumption and assignment of leases by a bankruptcy tenant. We also have represented tenants in pursuing their rights under the Bankruptcy Code when their landlord files a bankruptcy action.