“When written in Chinese, the word crisis is composed of two characters. One represents danger and the other represents opportunity” — John F. Kennedy, 1959
Our Debtor-Creditor Rights and Bankruptcy Group manages risk and seizes opportunity in a financial crisis.
Our attorneys emphasize creative, practical approaches to achieve our clients’ objectives in a timely, cost-effective manner. Our core group of attorneys draws upon the expertise of specialists in other practice areas as needed, including banking, pension benefits, litigation, environmental, tax and real estate.
We have a comprehensive practice in the areas of bankruptcy, reorganization, workouts and debtor-creditor rights. Because we represent many financial institutions, we regularly represent the interests of lenders, but also assist creditors and creditors’ committees, trustees, purchasers of assets, lessors of real and personal property and debtors.
Our Group provides the following services:
We have represented lenders in numerous bankruptcies and troubled credit situations, including the Chapter 11 bankruptcies of Schwinn/GT Corp., Ha-Lo Industries, Inc., Oxford Automotive, Inc., Uni Boring Co., Inc., Buffalo Molded Plastics, Inc. d/b/a Andover Industries, DCT, Inc., Channel Master, LLC, Mexican Industries in Michigan, Inc., Air Transport International, L.L.C., Chivas Products Limited, Alofs Manufacturing Co. and Target Components, Inc.
Our firm represented the conservator and debtor in possession, and later the liquidating agent, of MCA Financial Corp., RIMCO Financial Corp., their subsidiaries and certain affiliates, a mortgage lending/servicing operation with hundreds of millions of dollars in assets and debts. Our work resulted in confirmation of a Chapter 11 plan.
We have represented creditors, suppliers and other parties in interest in major automotive supplier cases, including the Chapter 11 bankruptcies of Delphi Corporation, Dana Corporation, Dura Automotive Systems, Inc., Collins & Aikman Corporation and Tower Automotive, Inc.
We counseled the operating trustee in the successful reorganization of Fred Sanders, Inc., a 112-year-old Detroit specialty company.
We represented the Commissioner of Insurance for the State of Michigan as Rehabilitator in the matter of Confederation Life Insurance Company, the largest rehabilitation of an alien insurer in U.S. history.
We counseled a major commercial bank as issuer of over $100 million of letters of credit in the rehabilitation proceedings of Legion Insurance Company and Villanova Insurance Company in Pennsylvania.