Bankruptcy

Practice Leader: Stephen E. Leach

Whether an enterprise is already in the throes of distress or merely sees problems on the horizon, LTB advises managers, officers, directors, and owners on the legal and practical realities of out-of-court workouts, pre-bankruptcy planning, and formal reorganization proceedings. We typically start by educating management, owners, or creditors about a process that many find daunting, stressful, and sometimes counter-intuitive. We work with our clients to develop realistic, cost-effective workout and reorganization strategies and provide the legal support and advice needed to get workouts and reorganizations done.

In recent years our debtor clients have included biotechnology companies, computer technology developers, furniture retailers, restaurant chains, department stores, and government contractors.

On the creditor side, LTB represents and advises financial institutions, landlords, trade creditors and others with claims against, or that are in a relationship with, an enterprise that is in financial distress. Our creditor clientele has included Fortune 500 companies, manufacturers, technology developers, energy companies, retail chains, and individuals. We know the workout and bankruptcy process inside and out, and aggressively pursue the best possible recovery on behalf of our creditor clients.

For savvy investors or competitors of a troubled enterprise, financial distress or reorganization may create a buying opportunity. Thus, we also advise and represent potential acquirers of the assets of distressed businesses both in and out of the bankruptcy courts.

As a small firm that knows the local courts well, we are frequently asked to serve as local counsel for national and international law firms representing creditors and debtors in the bankruptcy courts of Virginia, Maryland, and the District of Columbia.