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SECURED CREDITOR REPRESENTATION

Clients turn to Thompson Coburn for our extensive experience in protecting and enforcing the rights, interests and remedies of secured creditors through the various phases of a transaction - from credit origination through workouts, loan enforcement, and bankruptcy. We have extensive experience in representing secured lenders of almost every kind and type, including banks, other financial institutions, vehicle and equipment financiers, asset-based lenders, real estate financiers, equipment lessors, hedge funds and private equity groups. 

In transactional matters, we assist lenders and other secured parties by providing forward-thinking bankruptcy and insolvency advice by working closely with our transactional and finance colleagues when loans and credits are structured, documented, and originated. We also assist clients in utilizing structured finance techniques and, in conjunction with those, providing non-consolidation and other bankruptcy-related reasoned opinions. 

Later in the credit cycle, we represent lenders in negotiating and closing loan workouts and restructurings, and in resolving other issues that are unique to troubled credits. Our attorneys are committed to the idea that a negotiated, voluntary settlement is typically the most efficient way to handle a problem loan situation. We regularly handle workouts of credits of all sizes and levels of complexity, from large syndicated commercial and industrial loans, to middle market asset-based and cash flow loans, to small business loans and single-asset real estate loans. Our lawyers structure workouts of different types involving borrowers doing business in a vast array of industries.

Alternatively, we have extensive experience representing secured creditors in protecting and enforcing their rights, interests and remedies through various loan enforcement proceedings. We represent clients in real property foreclosures, and UCC secured party sales and replevin actions involving many types of collateral ranging from equipment and inventory to financial assets and intellectual property. We also have considerable experience with non-bankruptcy remedies such as receiverships and assignments for the benefit of creditors.

When bankruptcy arises, we represent secured creditors in complex Chapter 11 proceedings, including the documentation and obtaining court approval of debtor-in-possession financing facilities and cash collateral arrangements. We represent secured creditors in the “Section 363” bankruptcy sale process, both when their collateral is to be sold to third parties and when they seek to credit bid, and in the negotiation, structuring, documentation, and in negotiating, structuring, documenting, and confirmation of Chapter 11 plans of reorganization, whether proposed by the debtor, other creditors, or the secured creditor itself.

When during the course of a bankruptcy case matters become less than consensual, however, our attorneys represent secured creditors in contested cash collateral, stay relief, case conversion and dismissal, claims allowance, lender liability, preference and fraudulent conveyance, bankruptcy sale, and plan confirmation matters.

We often work closely with litigation, finance, and other colleagues at Thompson Coburn in representing secured creditors. We believe that a team approach is frequently necessary to help our clients prevail, given the unique procedural and substantive issues that arise in bankruptcy cases, and the many areas of non-bankruptcy law that are often implicated and require experience. We also believe that litigation is more often a tool to maximize recovery than an end in itself in bankruptcy cases, and parties can be adverse one day and then on the same side of the table the next. Our secured creditor bankruptcy practice is national in scope — our attorneys have connections with peers across the country and are equally comfortable appearing in bankruptcy courts from coast to coast as in our ‘home’ jurisdictions.

Representative Engagements

D. Delaware – Debtor: IMH Financial Corp. - Resort hotel; new-money DIP for prepack and acquisition 

SDNY – Debtor: Northwest Company - Branded textile/apparel manufacturer 

D. Utah – Debtor: M Space - Manufacturer/lessor of modular office and housing units

D. Delaware – Debtor: Deb Stores Holding – Retail apparel

SDNY – Debtor: Adoni Group – Wholesale apparel

SDNY – Debtor: Daytop Village – Residential substance -abuse treatment facilities

SD Florida – Debtor: Arrow Air Holding – Cargo airline

D. Kansas – Debtor: Best Well Service – Oil & gas service provider

EDNY – Debtor: Kangadis Food – Food service provider

SDNY – Debtor: Delta Air Lines – Passenger and cargo airline

SD Tex – Debtor: Shale Support Global Holdings, LLC – Frack sand company

WD MO. – Debtor: Blue Sun Energy – Biofuels

ND ILL – Debtor: Global Sorghum Solutions – Agribusiness

ND ILL – Debtor: LDR Industries, Inc. – Plumbing products

WD MO – Debtor: Mid-States Supply Company, Inc. – Supplier of pipes, valves and fittings

ED ARK – Debtor: Affiliated Foods Southwest, Inc., et al. – Grocery distributor and retailer

ND ILL – Debtor: Central Grocers, Inc., et al. – Grocery distributor and retailer

ED MO – Debtor: Lewis and Clark Apartments, L.P. – Low income apartment community 

ED MO – Debtor: Briggs & Stratton Corporation, et al. – Small engine manufacturer

ED MO – Debtor: Payless Holdings LLC, et al. – Shoe manufacturer and distributor

ED MO – Debtor: Foresight Energy, L.P., et al. – Coal company 

ED MO – Debtor: Noranda Aluminum, Inc.  – Aluminum product manufacturer

ED MO – Debtor: Arch Coal, Inc., et al. – Coal company

D. Delaware – Debtor: Tidewater Inc., et al – Offshore marine support and service company

Blog Posts

Are Unmatured Lease Obligations Considered Noncontingent Debt for Purposes of Calculating Eligibility to File a Subchapter V Bankruptcy?

Are Subchapter V Corporate Debtors Subject to the §523(a) Exceptions to Discharge?

Put down your fiddle: Third Circuit halts Johnson & Johnson’s Texas two-step

A recent decision highlighted a flaw in the Bankruptcy Code. Will the House of Representatives pass the Bankruptcy Threshold Adjustment and Technical Corrections Act to correct it?

Chapter 12 family farmer cases in Missouri: An updated look inside the numbers

Fracas in the French Quarter: Fifth Circuit weighs in on ongoing controversy over the intersection of Bankruptcy Code Sections 363(f) and 365(h)

Johnson & Johnson: The Texas two-step and talc-related liabilities

Subchapter V in the Eighth Circuit: The data from the first 18 months

Dude, your car is with your creditor: How the Supreme Court’s decision on automatic stays may impact creditors

Nine Bankruptcy Code amendments included in latest appropriations bill

Publications

Bankruptcy Code § 363(m) is now up for interpretation at the U.S. Supreme Court

An introduction to the Adjustable Interest (LIBOR) Act: The federal response to LIBOR replacement

Not so Technical: A Flaw in the CARES Act’s Correction to “Small Business Debtor”

Update – SOFR and LIBOR Replacement

The current status of LIBOR replacement and what financial institutions and their customers need to know now

Highlights from the SBA’s further guidance on PPP loan forgiveness

As COVID-19 prompts more retail tenant bankruptcies, how should landlords and lenders respond?

What receivers need to know about the Federal Priority Act

Bankruptcy court rejects risk-shifting liquidated damages clause in equipment leases

Data in the cloud: What if the cloud provider goes bankrupt?

Amendments to Chapter 12 make it easier for a family farmer to reorganize

Secured creditors beware

Key takeaways for creditors after the Supreme Court's divided ruling on spousal guarantors

Major update to bankruptcy forms effective December 1, 2015

Understanding triple net leases

Parsing the legal and financial impact from Detroit’s bankruptcy

UCC update: Revisions to Missouri’s UCC Articles 4A and 9

TCLE

The Big Bang: When the Worlds of Energy Law and Bankruptcy Law Collide

Seven Things You Should Know About the Missouri Commercial Receivership Act

Dealing with Financially Troubled Customers Outside and Inside of Bankruptcy

Bankruptcy 101: Bankruptcy Basics

News

Mark Indelicato Discusses Former WeWork CEO’s Attempts to Win Back Company

Mark Indelicato Joins Bloomberg Law Podcast to Discuss WeWork’s Path to Reorganize

Mark Indelicato Discusses WeWork Comeback Plan in Bloomberg Law

Janine Figueiredo Named as DEI leader for Turnaround Management Association Executive Board

Mark Indelicato Discusses NJ Favor in Bankruptcy Cases for Law360

Partner Sonette Magnus Named to ABI’s 2023 “40 Under 40” Emerging Leaders In Insolvency Practice

Sonette Magnus Recognized by Missouri Lawyers Media on 2023 Up & Coming List

Mark Indelicato and Mark Power Discuss Challenges and Strategies in the Slumping U.S. Mortgage Industry

Thompson Coburn’s Bill Bay Identifies Evolution as Critical to American Bar Association’s Future in ABA Journal Interview

Indelicato Discusses Private Equity Realizing Higher Yields Through Bankruptcies with Law.com

Katie Clark Honored with the Michelle A. Mendez Award of Excellence

Unveiling a Flaw in the CARES Act: Joseph Orbach and Mark Power's article recognized in Best of ABI 2022

Diona Rogers named 2023 Secured Finance Network 40 Under 40 Award winner

As corporate bankruptcies escalate, look to Thompson Coburn’s Trade Creditor Manual for guidance

The New York Business Litigation Practice and the Financial Restructuring and Bankruptcy Practice secure another victory for Howard Ehrenberg

Thompson Coburn has been selected as lead counsel to Creditors’ Committee in the Chapter 11 case filed First Guaranty Mortgage Corporation

Retailers get more rent leverage in bankruptcy: Joseph Orbach interviewed by Bloomberg Law

Thompson Coburn attorneys successfully advocate for technical corrections to the Bankruptcy Code

David Warfield talks to Axios about Johnson & Johnson’s ‘Texas Two Step’ strategy for talc claims

Sonette Magnus joins Thompson Coburn as a litigation partner

Thompson Coburn combines with Hahn & Hessen, expands to New York

NPR’s Planet Money podcast calls on Dave Warfield for episode on robocalls

Thompson Coburn is Texas proud after first year in Dallas

Rick Reibman named managing partner of Thompson Coburn’s Chicago office

National law firm Thompson Coburn lands four partners in new Dallas office

Congratulations to the new Thompson Coburn partners for 2020

Congratulations to our 14 ‘Lawyers of the Year’ for 2020

Congratulations to our 14 ‘Lawyers of the Year’ for 2019

Congratulations to our 14 'Lawyers of the Year' for 2018

Thompson Coburn earns 11 national top-tier rankings in U.S. News ‘Best Law Firms’ survey

Congratulations to our 8 ‘Lawyers of the Year’

Claire Schenk writes about Federal Priority Act for Federal Bar magazine

Thompson Coburn earns eight national top-tier rankings in U.S. News ‘Best Law Firms’ survey

Thompson Coburn represents issuer in 2014 Health Care Deal of the Year

Rightsizing the Right Way: Restructuring and Realignment in Higher Education

Congratulations to our 15 St. Louis ‘Lawyers of the Year’

David Warfield talks US Fidelis case on CNBC’s ‘American Greed’

Sixth Circuit rules cows can be leased

Federal judge rules sovereign immunity bars claims related to industrial development bonds

Thompson Coburn earns six national top-tier rankings in U.S. News ‘Best Law Firms’ survey

Detroit’s bankruptcy: What’s it got to do with St. Louis?

Thompson Coburn drafts UCC legislation in Missouri

David Warfield writes article on Detroit bankruptcy for St. Louis Business Journal

Francis X. Buckley, Jr. elected to board of directors of the American College of Bankruptcy

Associate
New York

Aleksandra is in the Firm's Bankruptcy & Restructuring Practice Group.

Aleksandra is in the Firm's Bankruptcy & Restructuring Practice Group.

Aleksandra Abramova
Partner
New York

John draws on his more than 30 years of litigation experience to represent a wide variety of clients in federal and state trial and appellate courts.

John draws on his more than 30 years of litigation experience to represent ...

John Amato
Senior Counsel
New York

Gil represents a wide variety of interests in the insolvency arena, with his cases mirroring the current troubled sectors of the economy.

Gil represents a wide variety of interests in the insolvency arena, with hi...

Gilbert Backenroth
Partner
St. Louis

Bill Bay represents major corporations in high-stakes litigation nationally.

Bill Bay represents major corporations in high-stakes litigation nationally...

Bill Bay
Partner
New York

Justine has extensive experience in the purchase and sale of all classes of distressed assets.

Justine has extensive experience in the purchase and sale of all classes of...

Justine Block
Partner
St. Louis

Mark’s practice focuses on the representation of clients in financial restructurings, out-of-court workouts and bankruptcy cases.

Mark’s practice focuses on the representation of clients in financial restr...

Mark Bossi
Partner
Los Angeles

A senior litigator with more than 30 years of experience, Jeff Brown develops and executes highly effective litigation strategies for clients facing all types of complex ...

A senior litigator with more than 30 years of experience, Jeff Brown develo...

Jeff Brown
Partner
St. Louis

Ed serves as a key tax advisor to companies embarking on any type of corporate restructuring, from acquisitions and dispositions to spinoffs and management changes.

Ed serves as a key tax advisor to companies embarking on any type of corpor...

Ed Buchholz
Senior Counsel
Chicago

Frank is a longtime advisor to financial service providers who assists with insolvency and restructuring matters, loan enforcement, and a host of other business issues.

Frank is a longtime advisor to financial service providers who assists with...

Francis X. Buckley, Jr.
Partner
Dallas

Katie represents clients before bankruptcy courts, federal and state trial courts, arbitration panels and appellate courts nationwide.

Katie represents clients before bankruptcy courts, federal and state trial ...

Katharine Clark
Partner
New York

Josh represents financial institutions as secured creditors in Chapter 11 bankruptcy cases, corporate restructurings and workouts, which he has done in bankruptcy courts ...

Josh represents financial institutions as secured creditors in Chapter 11 b...

Joshua Divack
Partner
St. Louis

David concentrates in the areas of business bankruptcy, workouts, securitizations, and general creditors' rights matters.

David concentrates in the areas of business bankruptcy, workouts, securitiz...

David Farrell
Partner
New York

Janine represents debtors, creditors' committees, liquidating trustees and secured and unsecured creditors in complex corporate reorganizations, restructurings and liquid...

Janine represents debtors, creditors' committees, liquidating trustees and ...

Janine Figueiredo
Partner
St. Louis

Garrett counsels banks, financial institutions and other businesses on a variety of tax credit, commercial transaction and regulatory issues.

Garrett counsels banks, financial institutions and other businesses on a va...

Garrett Fischer
Partner
New York

Steve is a litigator representing fiduciaries, financial institutions, corporate entities, creditor groups, and individuals.

Steve is a litigator representing fiduciaries, financial institutions, corp...

Stephen Grable
Partner
New York

Don represents clients in mergers and acquisitions, business organization, and general corporate matters.

Don represents clients in mergers and acquisitions, business organization, ...

Don Grubman
Partner
St. Louis

Ron Haglof's practice with the firm includes substantial experience in privately negotiated acquisitions and dispositions of businesses, including transactions requiring ...

Ron Haglof's practice with the firm includes substantial experience in priv...

Ron Haglof
Partner
Chicago

Clint represents borrowers, lenders and various other financial institutions in the structuring and the documentation of various commercial financing transactions.

Clint represents borrowers, lenders and various other financial institution...

Clint Hansen
Partner
St. Louis

Ed is a veteran litigator and head of the Firm's Antitrust Practice Group.

Ed is a veteran litigator and head of the Firm's Antitrust Practice Group.

Ed Harvey
Partner
St. Louis

Brian Hockett practices in the Firm's Financial Restructuring group.

Brian Hockett practices in the Firm's Financial Restructuring group.

Brian Hockett
Partner
New York

Mark represents parties in virtually every aspect of insolvencies, bankruptcies, and out-of-court workouts, including secured and unsecured creditors, official and ad hoc...

Mark represents parties in virtually every aspect of insolvencies, bankrupt...

Mark Indelicato
Counsel
Dallas

Nathan Johnson is an experienced litigator and a Texas State Senator.

Nathan Johnson is an experienced litigator and a Texas State Senator.

Nathan Johnson
Partner
St. Louis

Mark’s practice includes all types of secured, unsecured and asset-based lending and commercial-finance transactions.

Mark’s practice includes all types of secured, unsecured and asset-based le...

Mark Kaltenrieder
Partner
St. Louis

Cheryl represents lenders and obligors in complex finance transactions, loan restructurings, and bankruptcy, receivership, foreclosure and other proceedings involving cre...

Cheryl represents lenders and obligors in complex finance transactions, loa...

Cheryl Kelly
Partner
St. Louis

Sonette is a highly experienced litigator and business advisor who counsels corporate clients on all phases of commercial litigation in state and federal courts throughou...

Sonette is a highly experienced litigator and business advisor who counsels...

Sonette Magnus
Partner
New York

Steve represents financial institutions, businesses and constituencies in major commercial disputes, with a particular focus in lender liability cases, fraud-based invest...

Steve represents financial institutions, businesses and constituencies in m...

Steven Mandelsberg
Partner
New York

Zachary delivers practical, tactical, and experienced advice to corporate, lending, and fiduciary clients with respect to all phases of litigation, alternate dispute reso...

Zachary delivers practical, tactical, and experienced advice to corporate, ...

Zachary Newman
Partner
New York

Joe has represented a variety of clients in diverse aspects of bankruptcy and insolvency law.

Joe has represented a variety of clients in diverse aspects of bankruptcy a...

Joseph Orbach
Partner
New York

Mark has extensive experience in all aspects of financial restructuring and insolvency issues, and draws on that experience to develop creative and pragmatic ways to solv...

Mark has extensive experience in all aspects of financial restructuring and...

Mark Power
Senior Counsel
Chicago

Backed by a 30-plus-year career on the legal and regulatory side of financial markets, Rick is an insightful advisor to trading firms, brokerage firms, trade execution fi...

Backed by a 30-plus-year career on the legal and regulatory side of financi...

Rick Reibman
Associate
Dallas

Alexandra is an associate in the Firm's financial restructuring & bankruptcy practice group.

Alexandra is an associate in the Firm's financial restructuring & bankr...

Alexandra Rossetti
Associate
New York

Jake Schwartz is an Associate in the Firm's Financial Restructuring and Bankruptcy Group.

Jake Schwartz is an Associate in the Firm's Financial Restructuring and Ban...

Jake Schwartz
Partner
New York

Jeff has represented lenders and borrowers, buyers and sellers, lessors and lessees, senior, mezzanine and subordinated debtholders as well as committees and trustees in ...

Jeff has represented lenders and borrowers, buyers and sellers, lessors and...

Jeffrey Schwartz
Associate
New York

Henry is an associate in the Firm's Bankruptcy & Restructuring Practice Group.

Henry is an associate in the Firm's Bankruptcy & Restructuring Pra...

Henry B. Thomas
Associate
New York

Danielle's practice focuses on the representation of unsecured creditors' committees, secured and unsecured creditors, liquidating trustees, lenders, and debtors in a bro...

Danielle's practice focuses on the representation of unsecured creditors' c...

Danielle Ullo
Partner
St. Louis

Sarah represents lenders, banks and borrowers in complex financing transactions and provides in-depth regulatory counsel to clients in two of the most heavily regulated i...

Sarah represents lenders, banks and borrowers in complex financing transact...

Sarah Wade
Partner
St. Louis

David is a 30-year veteran of the financial restructuring world who provides practical, straight-forward advice to all types of institutions that interact with a distress...

David is a 30-year veteran of the financial restructuring world who provide...

David Warfield
Counsel
New York

Jeff has significant experience advising clients in all aspects of bankruptcy and insolvency law.

Jeff has significant experience advising clients in all aspects of bankrupt...

Jeffrey Zawadzki