Bankruptcy and Out-of-Court Restructuring

IMG’s restructuring and insolvency team is a multi-jurisdictional group of lawyers that provides its clients with timely, practical, and results-driven legal advice all aspects of restructuring and insolvency. Whether in anticipation of them or in dealing with their consequences.

IMG serves a diverse client base that includes debtors, lenders, government entities, trustees, shareholders, senior executives, as well as distressed debt and asset buyers and investors.

Our expertise covers advice on contingency planning, debt restructuring and rescheduling, distressed acquisitions/sales, credit bidding, formal insolvency proceedings, out-of-court refinancing and distressed debt trading. We advise lenders and investors at all levels of the capital structure as well as corporates/directors, banks, insolvency officeholders/trustees and government institutions.

Indeed, we pride ourselves on having an in-depth understanding of the U.S. Bankruptcy Code and regularly advise leading maritime and international trade companies, both domestic and international, on debt restructuring and corporate reorganization strategies.

or call  (206) 707-8338 to speak to a legal expert.

Legal Support We Can Provide

  • Maritime Asset and Equipment Recovery
  • Bankruptcy Investigations
  • Chapter 11: Reorganization
  • Chapter 12: Adjustment of Family Fisherman's Debts
  • Chapter 15: Cross-border Insolvency Strategy and Procedures
  • Maritime Lien Priority Schedules and Restructuring
  • Time, Bareboat, or Voyage Charter Value Analysis
  • Lease, Swaps, and other Trading Contract Restructuring
  • Financial Institutions and Creditor Representation
  • Lender Liability Representation and Advocacy
  • Distressed Maritime Assets, Debt and Portfolio Sale or Purchase
  • Valuation and Solvency proceedings

Restructuring and Insolvency Solutions

Corporate debt restructuring - International Maritime Group

Corporate Debt Restructuring - Without the Bankruptcy Courts

In general, an out-of-court restructuring is any transaction used to recapitalize or reorganize the capital structure (debt and/or equity) of a corporate entity (and its subsidiaries) outside of a bankruptcy proceeding. The purpose of these transactions is to:

  • Preserve the value of the business and maintain a viable company by rearranging its capital structure to reduce the aggregate amount of debt.
  • Renegotiate any burdensome contracts, extend any debt maturities, and modify any restrictive debt covenants.

Indeed, financially distressed business should always consider alternative restructuring options before filing for bankruptcy. Depending on the circumstances, these alternatives can often accomplish some of the same things that are effected in a bankruptcy proceeding, but in a simpler and more efficient manner.

Chapter 11 Bankruptcy - International Maritime Group

Chapter 11: Corporate Reorganization

If bankruptcy protection is a likely outcome, either to restructure debt or sell the business in an orderly manner, business owners and management should have a strategy in place as early as possible. A successful management of a troubled business depends on swift action to cut costs, communicate with lenders, and revise business plans in real time.

Chapter 11 of the Bankruptcy Code provides a procedure which allows a debtor to continue operating its business while it either formulates a plan of reorganization with its creditors or liquidates its affairs. It is available to most corporations, partnerships, and limited liability companies (LLCs), as well as to foreign companies recognized under Chapter 15 with assets in the US.

Chapter 12 Bankruptcy - International Maritime Group

Chapter 12: Adjustment of Debts of a Family Fisherman

Chapter 12 of the Bankruptcy Code, enacted in response to the farm crisis in the 1980s, provides qualifying family farmers with a regular annual income with a more streamlined and less expensive way to reorganize their financial affairs. In 2005, Chapter 12 was expanded to include family fishermen with regular annual income. While debtors have multiple options for restructuring or liquidating, Chapter 12 offers farmer and fisherman debtors substantial advantages over other Chapters of the Bankruptcy Code.

Chapter 15 cross-border resructuring - International Maritime Group

Chapter 15: Cross-Border Restructing

Chapter 15 of the Bankruptcy Code is designed to help the US recognize foreign insolvency proceedings and increase international cooperation among courts in multinational insolvency cases to more effectively address cross-border insolvency issues.

All of IMG’s attorneys have extensive cross-border experience. This means that we are able to find solutions which best protect our clients' interests, whether through optimal use of the legal frameworks which exist to facilitate cross border opportunities, or by identifying those jurisdictions and laws that are best suited to our clients' needs.

or call  (206) 707-8338 to speak to a legal expert.

What to Expect From Your Legal Team

  • We provide practical, commercial and results-driven advice on a discreet and confidential basis.
  • All assignments will have a nominated lead partner who will be your dedicated point of contact.
  • We will work to your agenda, timescales and budgets to achieve the best outcome.
  • We would expect to be your trusted adviser during the process and our industry knowledge and reputation will facilitate a direct and open dialogue between all stakeholders.
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