Funds Talk: October 2016
Kramer Levin Elevates Three to Partnership
A Chapter 11 bankruptcy filing causes significant dislocation and stress for the business and puts enormous pressure on a debtor-in-possession’s management. Practical issues such as creditor dissatisfaction, employee morale and financing of the going concern are often as important, if not more important, than the legal and reporting issues facing a Chapter 11 debtor. Businesses select us as their Chapter 11 counsel because of the firm’s extensive, broad-based legal and practical experience dealing with such issues. Among other things, our attorneys are adept at obtaining and negotiating debtor-in-possession financing packages, negotiating with pre-petition trade creditors, financial creditors and equity holders, designing and implementing employee retention programs, conducting sales of nonessential business lines, and negotiating and documenting plans of reorganization with a wide array of official creditor committees and other estate constituencies. Attorneys in our Corporate Restructuring and Bankruptcy Department have significant experience representing and reorganizing a diverse group of distressed businesses in and outside of Chapter 11.