In-Court and Out-of-Court Liquidations
Pedersen's lawyers have a high level of experience in developing cost-effective, customized solutions for clients facing the turbulence of distressed asset situations. Our practice focuses on helping our clients maximize their recoveries while minimizing their exposure to risk.
We identify effective strategies and options for a diverse group of financial, real estate, and middle-market business clients confronting the prospect of in-court and out-of-court liquidations. Our team is experienced in the negotiation and confirmation of liquidation plans.
We represent financially troubled debtors, advising them on ways to avoid bankruptcy proceedings by negotiating with secured and unsecured creditors, collecting assets, liquidating claims, and selling off assets. We help creditors recover pledged collateral and realize upon liens and security interests. And we often represent the liquidators themselves–trustees, assignees and receivers–as they manage the process for the benefit of all of the stakeholders.
Our team of lawyers regularly advises on issues involving the sale and/or purchase of assets from distressed companies and is experienced in liquidating a wide range of assets to ensure that our clients in crisis maximize return. We counsel purchasers who wish to acquire the assets of entities in chapter 7 or chapter 11 proceedings and through such avenues as Uniform Commercial Code sales.
- Represented a Rockford, Illinois-based system process manufacturer in 363 sale of its businesses, as well as the negotiation and confirmation of a liquidating plan.
- Represented the assignee of large, outsource packing company in assignment for the benefit of creditors. Completed negotiation of a settlement of lender liability action which allowed unsecured creditors to receive an approximate 15% distribution on claims.
- Represented the senior, debtor in possession lender in the chapter 11 liquidation of a large, "value-added" cattle breeding and selling operation.
- Represented the assignee of a Colorado-based national metal recycler in liquidation of its real estate and equipment in several states.
- Represented the chapter 11 and, subsequently, the chapter 7 trustee in the liquidation of an aluminum plate manufacturer.
- Represented a metal forging company in its sale through a quick, chapter 11 363 sale. Successfully negotiated with lender and PBGC to allow the sale of their collateral and compromise their claims.
- Represented certain debtors as part of a Detroit-based international auto parts manufacturing enterprise in the sale of business and the liquidation of remaining assets, including collection and avoidance actions against debtors' former director.
- Represented a physician practice management company in the liquidation of practice assets through divestiture/structured settlement transactions with affiliated physician practices, which led to the confirmation of a liquidating plan in their Delaware chapter 11 cases.
- Represented an Atlanta-based telecom company in chapter 11 liquidation proceedings.