Print PDF Creditors' Rights and Restructurings

We provide advice to agents, individual creditors and ad hoc bondholder and lender groups that hold or acquire blocking or controlling positions in the indebtedness of distressed companies in order to become active participants in the restructuring of such companies, both in bankruptcy proceedings and in out of court restructurings. 

Experience

Recent representations include the following:

• Agent of a nine-member bank syndicate in the restructuring of an after-market auto parts supplier through a consensual UCC Article 9 foreclosure sale;
• Ad hoc group of senior secured bondholders in connection with the restructuring and subsequent Chapter 11 proceedings of a satellite operator;
• Ad hoc group of convertible bondholders in connection with the restructuring of a pharmaceutical manufacturing company;
• Group of minority lenders that opposed the majority lenders in a dispute regarding a debtor’s restructuring strategy;
• Second lien lenders in the restructuring of the senior and junior secured facilities of a major baking company;
• Subordinated lenders in the restructuring of the senior and junior debt obligations of a trucking and delivery service company; and
• Senior lenders in restructuring and recapitalizing a provider of software products to the health and human services industry.

Publications

• "Tribune suits put public liability on trial" by Craig Newman published in the Financial Times
• "The Prospect of Municipal or State Defaults on Bond Obligations: Can Bankruptcy Help?" by Brian Fraser published in Thomson Reuter's Aspatore Special Report
• "MSHDA v. Lehman: Trying to Keep the Safe Harbor Safe for Swap Counterparties" by Neil Binder
• "The Secured Lender Review: Seven Cautionary Rules" by Keith Sambur

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Presentations

• Jon Kibbe participates as a Panelist in the Claims Trading seminar hosted by the LSTA
• RK&O partners co-host "From Creditor to Equity Holder: How to Make Your Post-Reorganization Equity Work Harder for You"
• Neil Binder and Michael Friedman present “Analysis of Claims against BP arising from Gulf of Mexico Disaster" hosted by the Susquehanna Financial Group
• Michael Friedman and Larry Halperin participate in "Current Issues and Bankruptcy Decisions Impacting Lenders" webinar hosted by RK&O and CRT Capital Group

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News & Announcements

• Jon Kibbe and Michael Friedman quoted in The Distressed Debt Report article "Attorneys Applaud Bankruptcy Rule 2019 Amendments"
• Richards Kibbe & Orbe LLP names Jeffrey Lehtman a partner and Catherine Turgeon and Ryan Jackson counsel
• Brian Fraser quoted by the Pittsburgh Post-Gazette article "Municipal bond certainties crumbling market riskier"
• Michael Friedman quoted in the Bloomberg article "Bankruptcy Turnarounds Menaced by Investor Valuation Fights, Lifland Says"

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