Worldwide Recognition for Defending Creditors’ Rights.
Milbank's Financial Restructuring Group is respected worldwide for its leadership in the defense of creditors’ rights. We have represented official committees and ad hoc groups of creditors in most of the high profile chapter 11 reorganization proceedings of the last decade in the US involving companies with complex capital structures and diverse creditor constituencies. We also are known for our leadership in Cross-Border and International Insolvency Matters.
extensive experience
Our experience in representing creditor groups spans a wide variety of industries and commercial sectors, including:
- Financials
- Retail
- Manufacturing
- Telecommunications
- Aviation
- Real Estate
- Mortgage servicing companies.
- Some notable examples in the US, each involving billions of dollars of indebtedness, include Lehman Brothers, Pacific Gas & Electric, the Great Atlantic & Pacific Tea Company, Capmark, Refco, Enron, and National Century Financial Enterprises.
We also regularly represent lenders, investor syndicates and individual creditors in a full range of restructuring matters. In close cooperation with our leading Banking and Leveraged Finance Group, we advise clients on senior, subordinated and mezzanine debt transactions, bridge and exit financings, and high-yield debt offerings in connection with financial restructurings. We represent the administrative agents for senior secured bank facilities in connection with ongoing restructuring efforts of Texas Competitive Electric Holdings Company LLC (TXU) and Dynegy Holdings Inc. Our representation of creditors holding claims in connection with complex leverage lease structures has put us at the center of major aircraft and automobile reorganizations, including those of Delta Air Lines, Northwest Airlines and United Airlines. We also have an active practice representing clients seeking to acquire control positions in distressed securities issued by troubled companies like Accuride Corp. and Tronox. Finally, we represent clients in all types of chapter 11 litigation, including all aspects of claims litigation as well as defending against fraudulent conveyance claims and challenges to acquisitions, including such high profile cases as TOUSA and Adelphia.
unparalleled expertise
Our vast experience in each of these matters gives us unparalleled expertise in guiding our clients to their goals.