Steptoe's team of insolvency professionals offers complete coverage on all debtor and creditor services, both in and out of court. Our lawyers are highly regarded masters of the distress playbook. Lawyers in our Insolvency & Restructuring practice have successfully represented companies—both while at Steptoe and at prior firms—in many of the largest and most significant bankruptcy cases and out of court workouts filed over the past decade, including representations in Takata, Caesar's Entertainment, Energy Future Holdings, Intellisat, Real Mex, The Walking Company, Circuit City, RCS Securities, Momentive, Lake Las Vegas, GenOn, Chrysler, AMR Corporation, TWA, US Airways, Northwest Airlines, and Aloha Airlines.
Faced with shifting economic pressures, many companies will find themselves in a position of needing to restructure or address insolvency proceedings. Financial problems can occur for many reasons, including due to macroeconomic factors such as COVID-19, the upcoming "debt wall," or economic corrections, or company-specific issues relating to litigation, supply chain disruption, labor issues, product failures, or otherwise. The financial strain caused by one or more of these factors, impacts more than the distressed company. It also can affect the company's suppliers, customers and other entities with which it does business, particularly if they are not prepared. Preparation is an essential step in understanding options, minimizing the risks and resultant harm, and potentially taking advantage of market distress.
Whatever the challenge, we have the team to help. We assist our clients both in avoiding and planning for bankruptcy, depending on their strategic options and implementing the resultant plans. When companies consider bankruptcy, they often believe that they have limited options. However, there are multiple avenues to pursue both as an alternative to, and in conjunction with, financial distress. The earlier our team gets involved, the greater the number of available options. Through comprehensive contingency planning, we help clients face challenges and optimize their path forward rather than passively responding to others' agendas.
We also represent other parties impacted by bankruptcy filings or potential filings, including formal and informal creditors' committees, secured and unsecured creditors, equity holders, assignees, receivers and trustees in bankruptcy, and similar cases throughout the United States. Our experience also includes representing parties in distressed M&A transactions, out-of-court restructurings, and assignments for the benefit of creditors.
If we reach the litigation stage, our lawyers are skilled advocates for both plaintiffs and defendants, navigating the nuances of complex disputes. Creditors and investors often look to boards and companies for recovery on breach of duty, fraud, fraudulent transfer, preferential transfer, illegal dividend, unfair competition, data breach, and many other potential causes of action, all of which we handle routinely. Similarly, we manage distressed sale transactions for buyers and sellers, and have the tax, labor, insurance, regulatory, and other experience to handle these matters effectively.
From an industry perspective, our experience is comprehensive and includes: commercial, single family and mixed-use real estate development, retail, entertainment, technology, transportation, energy, construction, surety, railroad, satellite, hospitality, sporting goods. mass-tort, asbestos, sporting goods, and securities.
We pride ourselves on the efficient handling of our restructuring matters, from the smallest to the most impactful cases.
Noteworthy
- US News – Best Lawyers' "Best Law Firms," Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (2020)
News & Publications
Publications
Following a Trail of Breadcrumbs: The Challenges of Enforcing International Insolvency Cases
ThoughtLeaders 4 FIRE Magazine Issue 14 - Contentious Insolvency Edition 2023
September 25, 2023
By: Ivan Gordienko, Alex Green
Press Releases
Steptoe Receives 67 Rankings in 2021 US News - Best Lawyers' 'Best Law Firms'
November 5, 2020
Press Releases
Steptoe Launches Financial Services University
October 21, 2020
Press Releases
Steptoe Receives 125 Individual Mentions in Best Lawyers in America 2021
August 20, 2020
Press Releases
Steptoe Adds Bankruptcy Veteran Jeff Reisner in LA, NY to Lead Insolvency & Restructuring Practice
June 11, 2020
Client Alerts
Changes to the UK Insolvency Rules
April 3, 2020
By: Michael Thompson
Events
Webinars
What’s Happening in the World of Bankruptcy
February 3, 2022
Speakers: James M. Carolan, Jeffrey M. Reisner, Joshua R. Taylor
Webinars
November 10, 2020
Speakers: James M. Carolan, Jeffrey M. Reisner, Michael Thompson, Lisa M. Zarlenga
Webinars
Distressed Asset Acquisitions: Opportunities, Challenges and Solutions
September 29, 2020
Speakers: Scott D. Fisher, Jeffrey M. Reisner
Webinars
Bankruptcy 101: End of the Road or an Opportunity to Restructure?
July 21, 2020
Speaker: Jeffrey M. Reisner