Workouts & Restructuring

The Workouts & Restructuring Group offers an ideal combination of knowledge and experience in the finance and commercial transactions areas with support from a strong litigation practice. Our Workouts & Restructuring Group is among the most creative and accomplished in the region. We represent debtors and debtors-in-possession, creditors and creditors’ committees and lenders and trustees in all types of reorganization proceedings, including both in-court and out-of-court workouts. Our representation ranges from local cases to those of national notoriety. Our clients include individuals, small business organizations, public companies, financial institutions, insurance companies, court-appointed trustees and receivers, and many others.

Our lawyers work with clients to structure and negotiate out-of-court workouts to meet the objectives of both creditors and debtors. Our creativity and ability to implement innovative solutions often lead to out-of-court settlements. With the assistance of lawyers from other practice disciplines within the firm, we have successfully negotiated numerous complex workouts and restructurings, saving our clients the time and expense of extended bankruptcy proceedings.

Our primary goal is to provide both practical and innovative solutions in the most efficient and economical manner possible. When negotiated solutions are not viable, we litigate aggressively to protect our clients’ interest.

Our insolvency practice also extends beyond debtor/creditor representation. We frequently advise clients on purchasing assets from troubled companies, both in and out of bankruptcy proceedings. Our lawyers regularly advise clients who are parties to contracts and leases with debtors or who require other legal advice with bankruptcy implications.

Our Services

Workouts & Restructuring

• Represent lenders in all aspects of Chapter 11 proceedings
• Represent creditors committees and trustees in Chapter 11 and Chapter 7 proceedings
• Represent debtors and creditors in out-of-court workouts, assignments for the benefit of creditors and other restructurings
• Prosecute and defend preference and fraudulent conveyance actions
• Defend lender liability claims

Creditors’ Rights Litigation

• Represent secured parties in enforcement of security interests and other remedies
• Commercial debt collection
• Preference and fraudulent conveyance litigation
• Foreclosure litigation
• Receivership actions 

Experience

• KMK represented First Financial Bank in numerous loan workouts and enforcement matters including the negotiation and confirmation of a creditor’s plan of reorganization in the Chapter 11 case of a real estate developer in Dayton, Ohio.

• KMK recently documented and closed the restructuring of a defaulted loan from an investor client to a fast-growing national retailer.

• KMK orchestrated the loan purchase of a defaulted loan and restructuring of the secured debt and investor obligations of a client-owned manufacturing concern.

• KMK represents the court-appointed legal representative for future asbestos claimants in the mass tort chapter 11 case of G-I Holdings Inc., pending in the Bankruptcy Court for the District of New Jersey involving asbestos liabilities of over $6 billion.

• KMK represents the THAN Trust, which is an asbestos settlement trust holding $900 million in assets, for the purposes of settling and paying asbestos liabilities of T.H. Agriculture & Nutrition, LLC.

• KMK represents a secured lender holding a secured claim exceeding $30 Million in the chapter 11 bankruptcy case of Zayat Stables, one of the largest thoroughbred racing stables in the United States, pending in the United States Bankruptcy Court for the District of New Jersey.

Noteworthy

"Noted for its handling of bankruptcies, workouts and restructurings in Ohio and beyond. Strong focus on restructurings, where it represents public companies, financial entities, small businesses and insurance companies, among others. Areas of expertise include mass tort bankruptcy and settlement trusts. Substantial experience negotiating out-of-court workouts for both creditors and debtors." - Chambers USA