Bankruptcy, Restructuring, & Creditors' Rights

Practice Overview

Drummond Woodsum’s bankruptcy, restructuring, and creditors’ rights attorneys specialize in both litigation and transactions involving distressed commercial matters.  They help clients from the first sign of trouble through the most complex financial restructuring or Chapter 11 case, achieving exceptional results both in the courtroom and at the negotiating table.

Bankruptcy

Drummond Woodsum’s bankruptcy attorneys are regularly recognized by Chambers USA and Best Lawyers as among the most respected in the region.  They have extensive experience representing parties in all aspects of chapter 11 cases, including financial institutions, bondholders, official and ad hoc creditors’ committees, asset purchasers, trustees, DIP lenders, directors/officers, and debtors. They also regularly represent parties in chapter 7, 12, and 13 cases, as well as bankruptcy litigation matters involving preferences, fraudulent transfers, director/officer claims, and appellate matters.

Representative bankruptcy matters handled by our attorneys include:

In Maine: Chase Custom Home & Finance (senior lender/DIP lender); Stored Solar Enterprises (official committee); Calais Regional Hospital (official committee/liquidating trustee); Sure Winner Foods (official committee); Lincoln Paper & Tissue (official committee/liquidating trustee); Penobscot Valley Hospital (senior lender); Montreal, Maine & Atlantic Railway (asset purchaser); Great Northern Paper Co. I & II (trustee); Parkview Adventist Medical Center (senior lender/litigation party); Northeast Wireless Networks (debtor); Red Shield Acquisition (debtor).

In New Hampshire: Prospect-Woodward Home (major creditor/litigation party); LRGHealthcare (official committee/liquidating trustee); Sanctuary Care (senior lender/DIP lender); GT Advanced Technologies (ad hoc committee/DIP lender/liquidating trustee); Trikeenan Tileworks (asset purchaser); Fred Fuller Oil & Propane (insurer); Kingsbury Corp. (asset purchaser).

In Massachusetts: IDL Development (IP licensor/litigation party); Corbett Development (litigation party)

In Vermont: Plastic Technologies of Vermont (official committee/trustee); Anichini Hospitality (debtor); Utility Risk Management (debtor)

In Delaware: RAIT Financial (equity holders); Great Northern Paper Co. II (petitioning creditors); NewPage Corp. (trade creditors/litigation parties); Sports Authority Holdings (consignor of goods/litigation party); Verso Paper Co. (trade creditors/litigation parties); ONE Aviation (landlord)

In the Southern District of New York: Fairpoint Communications (state regulator); Lehman Bros. Holdings (indenture trustee); Qubuecor World (litigation parties); Vivaro Corp. (litigation party)

Restructuring & Creditors’ Rights

Drummond Woodsum’s attorneys are highly experienced in the areas of restructuring and creditors’ rights. They regularly represent financial institutions, borrowers, and other parties in out-of-court debt restructurings, receiverships, foreclosures, and distressed asset and loan purchases/sales. They also have expertise in all manner of debtor/creditor litigation, including fraudulent transfers, commercial collections, statutory lien actions, unwinding leveraged buyouts, and both prosecuting and defending breach of fiduciary duty claims.