The increased leverage that has been placed on companies generally, and financially distressed companies in particular, has made it more challenging for official committees of unsecured creditors to obtain healthy dividends for unsecured creditors. This challenge has been compounded by the restrictions placed on Chapter 11 debtors’ ability to reorganize by the 2005 amendments to the Bankruptcy Code. Now more than ever, it is important for committees to hire law firms with the requisite experience and skill.
Bryan Cave’s restructuring attorneys have extensive experience representing official committees of unsecured creditors in cases in the healthcare, telecommunications, retail and manufacturing industries. Our experience representing lenders, debtors, management and asset purchasers in bankruptcy cases provides us, when we represent committees, with insight into the goals of other stakeholders and helps us to anticipate and evaluate their strategies.