Restructuring Counsel for Businesses in Transition or Distress
•Every business experiences difficulty or transition at some point in time. The principals can choose to ignore the needed changes or be proactive. If a business is experiencing a cash flow issue, inventory issue, economic downcycle, a temporary dip in revenue, etc. – starting early to fix the issues generally provides the business with more and better options.
•Pruvent provides representation in bankruptcy (Chapter 11 & 7), forbearance arrangements and other out-of-court workouts, distressed asset sales and dissolution.
•Represent borrowers, banks, private equity firms and other creditors and acquirors in national bankruptcy cases and out-of-court restructurings.
•Working collaboratively with clients to develop novel restructuring solutions that are tailored to a client’s situation, eschewing a one-size fits all approach, and making sure to focus on all aspects of a typical restructuring (including, without limitation, financing, debtor/creditor rights, tax, real estate, antitrust, and regulatory matters).
Protecting Value Through Difficult Transitions
Every business experiences difficulty or transition at some point. Pruvent PLLC represents debtors, creditors, buyers, and guarantors through workouts, forbearance arrangements, receiverships, and bankruptcy, including Chapter 11 reorganizations and Section 363 asset sales. The firm has assisted with the reorganization of airlines, construction and development companies, agribusinesses, franchisees, nonprofits, and food service companies; helped buyers purchase assets out of receivership; negotiated loan modifications and restructurings; and defended against preferential transfer and fraudulent transfer claims.
What is a Section 363 sale?
A Section 363 sale is a sale of assets through the bankruptcy process that allows a buyer to acquire assets generally free and clear of liens and claims, subject to court approval and the requirements of the Bankruptcy Code. Pruvent has represented both debtors selling assets and buyers acquiring them in 363 sales.
What are the alternatives to bankruptcy for a struggling business?
Out-of-court workouts, forbearance agreements, loan modifications, offers in compromise, and negotiated asset sales can often resolve distress without a bankruptcy filing. Pruvent evaluates the full range of options and has completed workouts for companies and high-net-worth individuals.
Does Pruvent represent creditors as well as debtors?
Yes. Pruvent represents creditors in asserting, negotiating, and protecting their claims, including in bankruptcies of international companies, and handles collection actions, lift-stay motions, and claim objections.