Debtors and Debtors-in-Possession

For more than 30 years, Haynes and Boone has focused its Bankruptcy and Business Restructuring practice on representing financially stressed and distressed companies in workouts and Chapter 11 reorganizations. During that time our bankruptcy attorneys have gained unparalleled experience and expertise in representing both public and private companies in the complex process of putting the parts of a broken company back together so that the reorganized company can grow, compete, and prosper. The firm’s industry expertise runs the gamut from passenger and freight airlines, automotive OEMs, surface logistics, real estate, energy, oil and gas, technology, hospitality, light and heavy manufacturing, retail, and service businesses.

One of the keys to successfully guiding a company through Chapter 11 is thoughtful and careful preparation. The early stages of a Chapter 11 case can be chaotic as the parties-of-interest (lenders, landlords, vendors, customers, governmental units, organized labor to name just a few) jockey for advantages in the process. Over more than three decades of Chapter 11 debtor practice we have developed a keen understanding of how best to manage these various parties-in-interest so as to facilitate our client’s rehabilitation objectives. Because of our depth on the company side of the docket, we are consistently viewed as the preeminent debtor firm in the markets we serve. We have represented many debtors in other forums - from New York to Florida to California - and we are recognized nationally as resourceful, creative, and effective reorganization counsel.

The Chapter 11 process has changed dramatically over the past 20 years. Rarely today do we see companies emerging as standalone enterprises at the end of a Chapter 11 case. Rather, bankruptcy has very much become an M&A process pursuant to which companies put themselves up for sale as going concerns under the tutelage of the bankruptcy court. We have extensive capability in representing companies whose Chapter 11 solution is a sale of the company as a going concern. Because of the firm’s internally non-competitive culture, we are able to bring to bear the significant public finance, corporate M&A and other legal sub-specialties in support of our representation of Chapter 11 debtors who have chosen the M&A path as the solution to their financial distress.

We have a strong presence in the New York market with two senior partners with more than 50 years combined experience in the representation of companies in financial distress. They are supported by four full time bankruptcy associates as well as finance, corporate and tax lawyers both in our New York office and from the firm’s other offices. Outside of New York, the firm has more than 10 full time bankruptcy partners each with more than 20 years representing debtors. These partners are supported by another 15 full-time bankruptcy partners and associates. The firm’s team is as large, experienced and capable as any in the country for handling complex and time critical company-side workouts and Chapter 11s.