Bankruptcy, Financial Restructuring, and Creditors Rights

Financially distressed situations are fraught for creditors, lenders, debtors, and trustees alike. Unstable financial markets, convoluted legal statutes and procedures, and competing demands from stakeholders can compound an already difficult state of affairs. But financial distress doesn’t always have to mean the end of the story. With the right legal counsel, it can mark the beginning of a new chapter. Smith, Gambrell & Russell has helped countless clients on both sides of the equation overcome distressed situations – and emerge stronger. Whether you’re attempting to restructure your business or recover your debts, you can rely on us to serve your best interests.

Our Capabilities

Clients choose SGR to navigate their most critical transactions and litigation, from debtor-side restructurings and fiduciary representations to creditor-side risk mitigation and collections. We represent businesses, equity owners, secured and unsecured creditors, and fiduciaries (such as trustees and receivers) nationwide in financial challenges that require commercial sophistication and a tireless commitment to your success.

Our capabilities include all types of restructurings, whether in or out of court. On the debtor/borrower side, we identify the strategies – including bankruptcy filings and out-of-court workouts – that will preserve your assets and restructure your structured debt. On the creditor side, we maximize recoveries by using state and federal laws to liquidate collateral, engage in litigation, or otherwise extract value from the debtor’s assets. We also take on assignments for the benefit of creditors, federal and state receiverships, and other proceedings involving distressed assets.

Our core strength is in cases involving the Bankruptcy Code and Article 9 of the Uniform Commercial Code (UCC). Having handled a slew of these cases, our team knows how to identify risks and opportunities, produce a sound plan of action, and bring you relief as quickly and efficiently as possible.

Our Approach

We take a dual track approach to bankruptcy and restructuring matters, implementing practical business solutions while fully preparing for potential litigation. We rely on our colleagues in the firm’s finance, real estate, corporate, and employment practices, routinely coming together to produce multidisciplinary, full-service solutions for our clients. Because when you face complex restructuring scenarios, you need a firm that can engage on every front.

We provide representation that’s bespoke, not off-the-shelf. Each distressed situation calls for a different playbook, so when putting together a map for the road ahead, we consider every dimension of your business: market forces, operational structure, jurisdictional concerns, and more. Our team places a premium on responsiveness and clear communication, seeking to build truly collaborative relationships with our clients. We’ve helped individuals and companies in a diverse range of industries – such as retail, healthcare, consumer goods, and real estate – make the best of complicated circumstances and accomplish their goals.

Our Credentials

Chambers USA recognizes our practice as one of the finest in the state of Illinois. Our attorneys have been called “excellent tactician[s]” with exceptional judgment” as well as “thorough and responsive.” One client commended SGR’s “helpful and timely advice that allows us to achieve efficient and favorable outcomes.”