Creditors and Creditors' Committees
Ballard Spahr commonly represents financial institutions, trade creditors, and other secured and unsecured creditors, in and out of formal insolvency proceedings, as well as Chapter 11 creditors’ committees. In connection with our committee work, our creative, pragmatic approach and decades of experience enable us to manage the often-conflicting interests of the members of committees, help them comply with their fiduciary duties, protect their investments, and meet both long- and short-term goals.
In addition, we regularly advise on the restructuring and redevelopment of distressed real estate projects and pooled mortgage loans on behalf of master and special servicers and other interested parties. With offices in some of the hardest-hit markets in the country, we understand each area’s regional issues, local laws, political climate, and distinct market characteristics.
Municipal Insolvency
Our attorneys have significant experience with the state and local laws governing financially distressed governmental entities, Chapter 9 of the Federal Bankruptcy Code, and the interplay of statutory and regulatory oversight involving such entities.
Ballard Spahr represents the City of Chester, Pennsylvania, in its Chapter 9 bankruptcy filing. We have represented parties in many of the nation’s landmark cases, including the City of Detroit’s bankruptcy filing, the City of San Bernardino’s Chapter 9 proceeding, and multiple cases involving the City of Harrisburg’s insolvency and its guaranties of incinerator reserve bonds. We also represent clients in connection with defaulting owners in special services districts.
Distressed M&A Transactions
We represent investors, financial institutions, buyers, and sellers in the purchase or sale of assets in bankruptcy as well as in recapitalizations through out-of-court restructurings and formal reorganizations. We advise on marketing and auction processes, and otherwise counsel clients in connection with sales through Section 363 of the Bankruptcy Code.
Landlord Representation
Ballard Spahr is one of the only firms in the country to have a leading national practice representing landlords in Chapter 11 cases. Over the past two decades, we have been retained to represent landlords in many of the nation’s largest and most complex restructuring and bankruptcy matters, including those involving multiple clients, varied leasing structures, and locations across the country.
Chapter 11 Debtor Representation
Ballard Spahr lawyers have played leading roles in some of the largest and most complex Chapter 11 cases of the last three decades. Significantly, these cases have cut across virtually every major American industry, including retail, airlines and aviation, housing and construction, energy, shipping, health care, automotive, entertainment, finance, and telecommunications. These cases also have been geographically diverse, involving companies conducting business throughout the country (as well as internationally) and proceedings in federal bankruptcy, and district and appellate courts in the First, Second, Third, Fourth, Fifth, Sixth, Seventh, Ninth, and Eleventh Circuits, among others.
Categories of Client Representations
We represent:
- Secured and unsecured creditors
- Pre-petition and DIP lenders
- Landlords
- Creditors' committees
- Debtors
- Underwriters
- Indenture trustees
- Receivers
- Investors
