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Delaware Bankruptcy Companion - 2009

Business Reorganization and Restructuring

"This Delaware powerhouse is one of the state’s strongest in all matters related to bankruptcy and restructuring.  The firm represents debtors and creditors with equal zeal and is staffed by a number of talented individuals whom clients describe as having "fantastic abilities.'”

 -Chambers USA 2009

Morris Nichols’ Business Reorganization and Restructuring Group is recognized as one of the premier restructuring and reorganizing practices in the United States.  Recipient of a 2009 Turnaround Atlas Award and 2009 M&A Advisor U.S. Middle-Market Financing Award, The Daily Bankruptcy Review ranked the Group first in the nation among mid-size and small law firms for the number of large, public-company bankruptcy cases filed around the country between 2001 and mid-2005 in which they acted as lead debtor’s counsel and sixth nationally among law firms of all sizes.

Our Clients

Our Business Reorganization and Restructuring practice serves regularly as lead or co-counsel for publicly-traded and privately-held debtors in possession, official creditors' committees, bondholders’ committees, secured and unsecured creditors, pre- and post-petition lenders, equity holders, purchasers of assets and variety of other parties-in-interest.  Such representation requires skillful negotiations and masterful knowledge of the specific practices and procedures regarding insolvencies and of the Delaware Bankruptcy Court and District Court as well as the United States Court of Appeals for the Third Circuit. 

Uniquely Qualified

Since 1990, Delaware has been the venue for nearly half of the nation's largest bankruptcy filings, and Morris Nichols has actively participated in many of its most sophisticated proceedings.   Our Business Reorganization and Restructuring team has 17 attorneys — 5 partners, 11 associates and one of counsel practicing business reorganization and restructuring full-time.  When situations arise, the team works closely with other firm practice groups, particularly the business litigation, tax, real estate and corporate counseling groups who provide special expertise on interrelated legal and business issues during debt restructuring and workouts.  Having handled some of the nation's largest bankruptcy cases, our firm has the resources and experience to assist troubled businesses and other major parties in large, complex proceedings.

Our Approach

We make it our goal to understand our clients’ business and devise innovative solutions that are practical and cost effective while providing superior service equal to or better than large national firms.  We work with our clients to quickly respond to today’s challenges and skillfully plan for our clients’ long-range objectives.

Representative Matters

Sample representations of debtors in Chapter 11 cases include Nortel Networks, Penn Traffic, Teton Energy, Big 10 Tire Stores, Inc., Delta Mills, Inc., Hancock Fabrics, Inc., Lillian Vernon Corporation, Netversant Solutions, Inc., Nobex Corporation, Northwest Suburban Community Hospital, Oakwood Homes Corporation, Rouge Steel, TallyGenicom, Thaxton Group, Inc. and The Glass Group.  The group also represents official creditor’s committees and ad hoc committees including the Chapter 11 cases of Formtech, Barzel, PTC Alliance, Charys Holding Company, Inc., Sea Containers, Ltd., Jillian’s Entertainment Corp. and Oglebay Norton.  Post confirmation trust representations include Safety-Kleen Creditor Trust, OHC Liquidation Trust and Bridgeport Holdings, Inc.  Other representations include Assured Guaranty, EchoStar Communication Corporation, Federal Guaranty Insurance Corporation, FlexSol Packaging, FortiStar, Hollinger, Inc., Juniper Bank, Morgan Stanley, RCI Acquisition LLC, Riverstone, Wilmington Trust Company and Xybernaut Corporation.

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T: (302) 658-9200    1201 North Market Street, 18th Floor, P.O. Box 1347, Wilmington, DE 19899-1347