Find Lawyers in Sioux Falls, South Dakota for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
Practice Area Overview
While some bankruptcy lawyers represent insolvent individuals, many corporate bankruptcy lawyers represent debtors, creditors, and groups of creditors in bankruptcy cases. When representing debtors, the bankruptcy lawyer’s involvement typically starts long before a company actually commences a bankruptcy case by counseling the debtor concerning strategic options. These options run the spectrum, from gaining the protections afforded by commencing a reorganization case under chapter 11 (to implement an asset sale, a consensual plan of reorganization, or perhaps a contested “cramdown” plan), to negotiating an out-of-court workout. Creditor representations similarly require strategic analysis and skilled advocacy. The challenge facing creditors’ counsel is not merely competing with the debtor and its shareholders, but also competing against other creditor constituencies with differing agendas. After all, the restructuring objectives of a trade creditor, a bond holder, a labor union, a government agency, or a creditor that may be junior or senior in the capital structure likely will vary, potentially to a substantial degree, depending on the circumstances.
In today’s dynamic financial restructuring landscape, bankruptcy lawyers also must tackle a host of ancillary issues. For example, cross-border insolvencies continue to grow in number and intricacy as businesses expand globally into legal jurisdictions around the world. Likewise, the advent and growth of structured financial products and derivatives adds additional layers of complexity to the already complex mix of legal and business issues that bankruptcy lawyers routinely confront. In addition, the bankruptcy process continues to serve as a springboard for M&A opportunities presenting distressed investors with opportunities to acquire assets at attractive valuations in the marketplace.
Bankruptcy law provides ample, important restructuring opportunities to financially troubled businesses and has made bankruptcy an effective business tool, as evidenced by the number of large business enterprises increasingly seeking the protections and benefits that bankruptcy affords.
Recognition by Best Lawyers is based entirely on peer review. Our methodology is designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area.
Best Lawyers employs a sophisticated, conscientious, rational, and transparent survey process designed to elicit meaningful and substantive evaluations of the quality of legal services. Our belief has always been that the quality of a peer review survey is directly related to the quality of the voters.
Enhancing Consumer Safety Through Winning Jury Trials and Substantial Settlements
by Justin Smulison