BANKRUPTCY & WORKOUTS

Stein & Lubin's bankruptcy practice group specializes in the representation of financial institutions, equipment lessors, real estate developers and commercial landlords in commercial bankruptcy cases. We work hand in hand with clients to assist them in the analysis and evaluation of the strategy for the maximum recovery whether it is a pre-bankruptcy workout, a reorganization of the obligations with the debtor or recovery and liquidation of collateral. Our bankruptcy expertise extends to all aspects of bankruptcy practice including Chapter 11 plan confirmations, cash collateral issues, post-petition financing, preference and fraudulent transfer defenses, motions for relief from the automatic stay, asset sales, filing of claims and claims prosecution and all aspects of equipment leasing disputes. Stein & Lubin has represented numerous commercial landlords in Chapter 11 cases involving lease assumption and rejection issues, cure disputes with respect to lease assumption and prosecuting claims allowance on real property lease rejections, including addressing letter of credit and security deposit recoveries.

Our bankruptcy, real estate and finance groups have extensive experience in the restructuring and workout of problem commercial loans, including unsecured loans and loans secured by personal or real property. We have represented our clients in all aspects of problem loan workouts from straightforward extension and forbearance agreements to complex multi-million dollar loan workouts, involving for example recapitalizations, debt subordination, and obtaining additional collateral. We work to maximize our clients' leverage and ability to recover from debtors and to anticipate all potential bankruptcy issues that may arise should a bankruptcy petition follow a loan workout.

The bankruptcy group practices on a national level having represented numerous clients in chapter 11 bankruptcy cases in the Delaware, New York, Illinois, Florida, and Texas bankruptcy courts, in addition to all bankruptcy courts in California. Stein & Lubin has represented its clients in national Chapter 11 bankruptcy cases such as Kmart, Fleming Foods, and HA-LO Industries. Stein & Lubin is presently special counsel to Coudert Brothers in its Chapter 11 bankruptcy case currently pending in the Southern District of New York.

Representative transactions include the following:

• Successfully obtained multi-million dollar non-dischargeability judgments as a result of fraud in multi-million dollar equipment loans.



• Successfully prosecuted action to convert multi-million dollar Chapter 11 transportation equipment leasing debtor to chapter 7 at the beginning of the case.



• Successfully represented client in defeating attempt by Chapter 11 debtor of multi-million dollar equipment leases and loans from the transfer of collateral and assignment of leases and obtaining relief from stay within the first three months of the Chapter 11 case.



• Successfully defended secured lender in trustee avoidance action under earmarking doctrine defense.



• Successfully represented numerous clients in recovery on reclamation claims.



• Successfully represented lenders in out of court restructuring on real estate and personal property secured loans to maximize recoveries.



• Represented numerous clients in bankruptcy mediations and settlement conferences.

For more information, contact Dennis D. Miller.