Practices | Business Restructuring and Insolvency

The Business Restructuring and Insolvency Practice Group represents clients throughout the United States, including the busy reorganization courts in Delaware and the Southern District of New York. Within New England, the group plays a significant role in the majority of business bankruptcy and Chapter 11 cases filed, with an emphasis on the representation of debtors in Chapter 11, as well as purchasers of assets. Outside New England, members of the group have represented asset purchasers in section 363 and plan sales of assets, as well as major parties-in-interest in Chapter 11 cases and business bankruptcy-related litigation.

Recent work in New England includes representation of clients in:

  • Irving Tanning (Maine)
  • Thibeault’s Oil (Maine)
  • Maietta Construction (Maine)
  • Maine PCS (Maine)
  • Associated Grocers of Maine (Maine)
  • M.W. Sewall (Maine)
  • Red Shield (Maine)
  • Pegasus Satellite (Maine)
  • Androscoggin Energy (Maine)
  • Lincoln Pulp and Paper (Maine)
  • KS Realty (New Hampshire)
  • USA Springs (New Hampshire)
  • Munce’s Superior Oil Products (New Hampshire)
  • Lapointe International (Massachusetts)
  • American Paper Mills (Vermont)

Recent work outside of New England includes representation of clients in:

  • Nortel Networks (Delaware)
  • New Century Mortgage (Delaware)
  • Homebanc Mortgage (Delaware)
  • Fraser Papers (Canada and Delaware)
  • LandAmerica (Virginia)
  • Black Diamond Mining (Kentucky)
  • Professional Veterinary Products (Nebraska)
  • Hartmarx (Illinois)
  • FairPoint Communications (Southern District of New York)
  • Lehman Brothers (Southern District of New York)

The group’s expertise includes litigation regarding officers and directors’ liability, lender liability, complex preferential and fraudulent transfers and other commercial and business tort litigation.  Clients of the group include business debtors, liquidating trustees, creditors’ committees, parties acquiring distressed businesses and other parties affected by insolvency proceedings.  Business restructuring and insolvency attorneys work regularly with colleagues in the firm’s Business Law, Litigation, Mergers & Acquisitions, Finance, Intellectual Property and Environmental and Natural Resources practice groups to prosecute and defend complex litigation issues, structure sophisticated transactions, and provide strategic legal and business counsel to financially distressed entities and those who deal with them.

The group’s senior member and co-chair is a fellow of the American College of Bankruptcy, the practice area’s highest honor, and the 2009-2010 president of the American Bankruptcy Institute. The group’s attorneys are members of the ABI and the Turnaround Management Association, as well as other professional associations dedicated to insolvency issues and restoration of corporate value. Two attorneys are certified in Business Bankruptcy by the American Board of Certification. Group members have been recognized in Best Lawyers in America and Chambers USA, as some of the top corporate bankruptcy attorneys in Maine.

Case study:  A Turnaround Against All Odds