- Bankruptcy Filings Drop 11 Percent
- Duane Morris Partner Michael Lastowski Appointed to Association of Insolvency & Restructuring Advisors Board
- Duane Morris Practice Groups Receive Top Rankings from U.S. News-Best Lawyers for 2014
- Duane Morris Partner Meagen E. Leary to Present at Trigild’s 3rd Annual Spring Lender Conference
- Duane Morris Partner Mairi Luce To Discuss "Commercial Real Estate Loans: Structuring Covenants, Events of Default Provisions and MAC Clauses"
- Duane Morris Partner Meagen Leary to Present at 13th Annual Trigild Fall Lender Conference
- New Jersey Bill Requires Creditors to Maintain Vacant Property During Pending Foreclosures
- Bitcoin Exchange Mt. Gox Files for Bankruptcy Protection; May Have Broader Implications for Digital Currency Industry
- Proceed with Caution When Foreclosing in Washington State: Split Decisions Regarding Deficiency Claims
Creditors' Rights and Advisory Services
The Deal consistently ranks Duane Morris among the most active bankruptcy practices in the world. No firm handles more cases with more total assets than Duane Morris. (Active cases involve an estimated $1,023B in assets.)
Due primarily to the firm's long history of representing banks, other commercial lenders and insurance companies, lawyers in the Business Reorganization and Financial Restructuring group have extensive experience in the protection and advancement of creditors' rights in insolvency situations.
Often, the protection of a creditor's rights requires the filing of a claim or the taking of some other action in a debtor's bankruptcy case. Just as often, however, creditor's rights are protected in non-bankruptcy courts by recourse to various state and federal laws such as fraudulent transfer and conveyance laws (based on either the Uniform Fraudulent Transfer Act or the Uniform Fraudulent Conveyance Act), the Uniform Commercial Code, title and lien recording statutes, laws regarding receiverships and assignments for the benefit of creditors, as well as various provisions of state corporation and business association laws.
Knowledge of the vast body of debtor-creditor law also translates into the ability to advise clients regarding business strategies and transactions, and to structure and prepare documentation for transactions or business programs in order to help identify and, where possible, limit the client's exposure to counterparty credit risk. Our lawyers are often called upon by clients to structure agreements in anticipation of the counterparty's bankruptcy, insolvency or failure to perform. These agreements range from litigation settlement agreements to warehousing agreements, and from collateral trust, insurance indemnity and surety bond agreements to securities lending, swap and other derivatives transaction agreements.