Restructuring and Out of Court Workouts
The SNR Denton Restructuring and Insolvency group represents
borrowers, lenders (including coordinating committees of lenders),
bondholders and shareholders (including ad hoc committees of
bondholders and shareholders), potential acquirers and other
parties in a wide range of restructurings and out-of-court workouts
– from dealing with the first signs of distress, to stabilizing the
situation, through developing and delivering complex restructuring
solutions.
Out-of-court solutions can provide speed, certainty and enhanced
value for the stakeholders. In evaluating whether to pursue
an in-court or out-of-court restructuring and to choose among
various out-of-court alternatives, we regularly analyze and advise
our clients on the pros and cons of the various options, bringing
to bear our considerable knowledge and experience.
Our analysis of restructuring approaches is driven by the
particular facts and circumstances facing each client – no two
restructurings are the same, no two clients' businesses are
identical – and we bring a practical and business-focused approach
to this analysis. SNR Denton's range of sector
specializations means that the we are ideally placed to handle
restructurings in every field.
Each stakeholder’s respective rights in a court insolvency
proceeding is often an important baseline in evaluating whether
they may have a willingness to agree to a certain treatment in an
out-of-court restructuring. Knowing when to deploy formal
insolvency procedures as an aid to a consensual restructuring is
key.
Areas of Focus:
- Debt Modifications and Amendments
- Debt Forbearances and Waivers
- Refinancings or Debt Position Purchases
- Exchange Offers
- Debt-for-equity swaps
- Schemes of Arrangements and Voluntary Arrangements (UK)
- Pre-packaged Plan Solicitations (US)
- Pre-packaged Insolvency Sales (UK)
- Corporate Structure Reorganizations, including divestitures,
liquidations or dissolutions of certain subsidiaries or business
units
- Composition of Creditors
- Assignments for the Benefit of Creditors (US)
- Intercreditor and Subordination Agreement Issues
- Personal Property Assets In Foreclosures under the Uniform
Commercial Code (US)