Financial Restructuring and Distressed Transactions

Burns & Levinson’s Financial Restructuring and Distressed Transactions Group has gained a national platform representing and counseling clients with respect to all issues that may arise in restructurings, workouts, bankruptcies, receiverships, foreclosures and other insolvency-related matters, as well as advising our clients with respect to the purchase and sale of distressed assets. The Group is multi-disciplinary in its focus, drawing upon the strengths of attorneys from our corporate, finance, real estate, tax, business litigation and intellectual property practices in order to efficiently and effectively achieve our clients’ goals.

Burns & Levinson represents secured and unsecured creditors, debtors, financial institutions, indenture trustees and bondholders, insurers, equity holders, leasing and finance companies, as well as lenders and investors providing debtor-in-possession (DIP) and exit financing. We appear regularly in bankruptcy courts across the county, and are skilled in the negotiation and documentation of pre-packaged or pre-negotiated bankruptcies, asset sales, DIP and exit financing in addition to litigating cash collateral disputes, relief from stay motions, plan confirmation challenges, avoidance actions as well as all other forms of bankruptcy litigation and appellate work. Burns & Levinson’s attorneys also have experience in the growing cross-border bankruptcy regime and have litigated one of the few Chapter 15 Cross-Border Bankruptcy proceedings in the District of Massachusetts. The Firm along with its subsidiary Burns & Levinson Canada Co., has a unique platform in assisting multinational companies navigate the impact of U.S. bankruptcy law on Canadian companies. In addition, members of our bankruptcy and international practices often write and participate in seminar panels on the subject of cross-border insolvency.

Our practice is not limited to representation of our clients in bankruptcy court. We often work with our clients to restructure or workout the underlying creditor-debtor relationship outside of the courtroom, thereby achieving an economical and efficient result. In this regard, we have negotiated and drafted forbearance, deed-in-lieu, modification and workout agreements, confessions of judgments, and covenant waivers, as well as assignments for the benefit of creditors and other non-judicial restructurings. In instances where such out of court strategies are not feasible, we routinely represent our clients in foreclosures and receivership actions, as well as in litigation in state and federal courts seeking enforcement of remedies under applicable credit documents. Working in tandem with our Real Estate Group, we have developed an expertise with respect to commercial real estate workouts and restructurings and are able to advise our clients on all associated issues.

Our attorneys have extensive experience in transactions involving the acquisition of troubled, distressed and bankrupt companies and assets, whether through the vehicle of a Section 363 sale or bankruptcy plan, receivership or other non-judicial means. In such proceedings, we have represented sellers, purchasers, licensors of intellectual property, boards of directors and management, as well as their respective lenders. Drawing upon our strong Corporate, Finance and Real Estate Groups, our multi-disciplinary approach allows us to ensure all issues involved in such purchases or sales are properly addressed. Additionally, given our strong relationships with various financial institutions and private equity firms, Burns & Levinson can assist in finding potential sources of funding for our clients.

We also have assisted our clients in the purchase or sale of distressed loans and loan pools, as well as all associated issues that may arise. Burns & Levinson has the unique ability to address and resolve all pre- and post-acquisition issues associated with such transactions, drawing not only upon our legal expertise, but also transactional experience in this industry. During the pre-acquisition phase we conduct due diligence, negotiate and draft necessary operative documents, including loan sale and servicing agreements, and advise as to various start-up issues, including state-by-state licensing requirements to purchase and service loans. Once the loans or loan pools are acquired, Burns & Levinson coordinates the drafting and recording of the necessary transfer documents. Additionally, our workout and restructuring expertise enables our attorneys to address and resolve all issues that arise with any sub-performing or non-performing loans.

Burns & Levinson’s attorneys have also developed an expertise in representing insurers and boards of directors when claims have been made against an insolvent insured’s D&O policies. Burns & Levinson is able to provide a team of attorneys who have experience in coverage litigation, as well as bankruptcy proceedings, thereby ensuring proper access to policy proceeds. In addition, we have represented insurers in bankruptcies and insolvency proceedings as a result of an insured’s potential and actual asbestos, silica and other mass tort liabilities.

For more information, please contact:

Frank A. Segall, Co-Chairman, 617.345.3684, fsegall@burnslev.com

William V. Sopp, Co-Chairman, 617.345.3829, wsopp@burnslev.com

Scott H. Moskol, Vice Chairman, 617.345.3522, smoskol@burnslev.com