The firm has an active practice in all areas of commercial lending and corporate finance, including securitizations, leases, asset-based lending, and other transactions. We represent state and federally chartered banks and financial institutions in structuring, negotiating, documenting and closing loans secured by accounts receivable, equipment, inventory, or other property, and workout or collection of problem loans, as well as in:
- general corporate matters
- regulatory compliance
- interstate expansion
- mergers and acquisitions
- mutual-to-stock ownership conversions
- capital formation
- defense of regulatory enforcement actions
- lending transactions
With more than 35 years of experience in the area of factoring, the firm has represented both bank factoring and receivables finance operations and non-bank operations, such as Advance Financial Corporation, Fortune Financial Services, Inc., Commercial Factors of Atlanta, Inc., American Financial Group, Inc., Finova Capital Corporation and The CIT Group/Business Credit, Inc. The services we have rendered to our factoring/commercial finance clients have ranged from incorporating start-up companies, to preparing their standard documents, to negotiating major transactions, to giving advice concerning distressed loans, both in and out of bankruptcy proceedings.
In addition, we have an active practice involving the representation of lenders (both for their own accounts and as lead bank in syndicated and participated facilities) and debtors in debtor-in-possession (DIP) financing transactions. Among other significant bankruptcy cases in which the firm has been involved in DIP financing transactions are the cases concerning:
- Cagle’s, Inc.
- Southwest Georgia Ethanol, LLC
- U.S. BioEnergy Corporation
- Aerovias del Continente Americano, S.A. (Avianca Airlines)
- Genoa Healthcare Consulting LLC
- Crescent Resources, LLC
Our mergers and acquisitions experience has included both negotiated purchases of financial institutions and hostile takeovers. We have substantial experience in representing both buyers and sellers. The consolidation of the banking industry which has occurred over the past several years has provided the firm with an opportunity to participate in 24 bank merger/acquisition transactions. Our merger/acquisition experience have involved an equal number of transactions where the acquirer’s interest in the target was unsolicited and transactions where the target bank either on its own or through the use of a financial advisor solicited the transaction. We have also represented financial holding companies in the acquisition of non-banking companies, principally insurance agencies.
We have experience with unsecured lines of credit, financing of acceptances and documents of title and leasing. We have represented sellers, borrowers, and lenders in all aspects of leveraged buyouts. We advise our clients in the area of “lender liability” on a variety of issues including “bad faith,” “control,” and “equitable subordination.” We deal frequently with asset-based lenders in documenting and closing secured transactions ranging in size from $250,000 to over $100,000,000 (including syndicated and participated loans), and we deal with all manner of related issues, including intercreditor, subordination, guaranty, and other credit enhancement issues.
The firm’s Real Estate Section handles the acquisition, development, financing, and leasing of property, with careful consideration of the tax aspects of each transaction. The Commercial Lending Section works closely with attorneys in our Real Estate Law Section to represent financial institutions in the documentation and closing of loans which are secured either by real estate primarily or by real estate or additional collateral.