Workouts & Restructurings

Burr & Forman's commitment to the changing needs of lenders and creditors is evidenced by its substantial Creditors' Rights and Bankruptcy practice.

Burr has over 50 attorneys concentrating in this area of law, making the firm one of the largest bankruptcy practice groups in the region. This allows individual attorneys the ability to focus on narrow specialties. The group was recently ranked by Law360 as the 36th largest Creditors' Rights and Bankruptcy team in the United States. Based on this ranking, Burr's team is the largest in the Southeast. In 2012, 10 of our creditors' rights and bankruptcy attorneys were listed as a leading practitioner in Bankruptcy/Restructuring by the highly regarded Chambers USA. 

We have extensive experience in handling distressed mergers and acquisitions (M&A), whether in an out-of-court transaction, a state court receivership, section 363 sale under the Bankruptcy Code, under a plan of reorganization, or in a prepackaged or other enforcement transaction. We work with a distressed company’s management and financial advisors to craft the optimal business-focused solution. Increasingly, we also represent manufacturers who are customers of insolvent entities where the manufacturer must immediately have a unique part made by its sole source, the financially distressed supplier, who is expected to deliver the part on a “just in time” basis. 

Members of the Creditors' Rights and Bankruptcy team concentrate on the acquisition, disposition, restructuring, and development of troubled properties. We sometimes install receivers to manage those properties. Additionally, we leverage our firm’s strength in banking to provide financial institutions with counsel in connection with debtor in possession (DIP) financings and exit financings related to distressed M&A. And, we develop, negotiate, and execute reorganization strategies for all types of matters found in the asset resolution section of banks.

We often represent stalking horse buyers and other bidders in bankruptcy 363 sales. The purchase and sale of assets and businesses has developed into a significant component of commercial bankruptcy and insolvency practice. Sellers in distress situations many times utilize a bankruptcy court sale as the best way to conduct an orderly sale process and achieve the best value for their creditors and stakeholders. Similarly, the purchasers of distressed assets appreciate the value and protections afforded in a bankruptcy court blessed asset sale.

For more than three decades, our creditors’ rights attorneys have been actively involved in major bankruptcy proceedings in the Southeast and beyond. Our work began with an emphasis on representing major secured lenders in Chapter 11 bankruptcies but our practice has evolved far beyond its initial role to include representation of business debtors as well. Our substantial experience in this area includes representation of clients in the manufacturing, real estate, health care, agriculture, retail, education, and construction industries. On the creditor side we represent secured creditors, such as financial services institutions, asset-based lenders, and local, regional, and national banks, as well as REITs, equipment sellers, and lessors.

We have extensive experience representing official creditors’ committees, bank debt and ad hoc creditor groups, secured lenders, equity holders, derivative and swap counterparties, and other creditors in out-of-court reorganizations, debt restructurings, enforcement processes, liability management strategies, and bankruptcy proceedings.

Our Attorneys

Lawrence Ahern, III
Retired Partner ~ Nashville, Tennessee|
(615) 724-3210
(615) 724-3310
Lawrence
Brad Baldwin
Partner ~ Atlanta, Georgia|
(404) 685-4332
(404) 214-7930
Brad
Bess Creswell
Partner ~ Mobile, Alabama|
(251) 345-8245
251-706-2415
Bess
Denise Dell-Powell
Partner ~ Orlando, Florida|
(407) 540-6607
(407) 264-6466
Denise
Gary Farris
Partner ~ Atlanta, Georgia|
(404) 685-4250
(404) 214-7388
Gary
Bryan Glover
Associate ~ Atlanta, Georgia|
(404) 685-4252
(404) 214-7395
Bryan
Eric Golden
Partner ~ Orlando, Florida|
(407) 540-6603
(407) 540-6601
Eric
Jesse Graham, Jr.
Partner ~ Orlando, Florida|
(407) 540-6615
(321) 249-0525
Jesse
Kasee Heisterhagen
Associate ~ Mobile, Alabama|
(251) 345-8244
(251) 706-2446
Kasee
Will Hereford
Partner ~ Birmingham, Alabama|
(205) 458-5310
(205) 244-5658
Will
David Houston, IV
Partner ~ Nashville, Tennessee|
(615) 724-3215
(615) 724-3315
David
Heather Lee
Partner ~ Birmingham, Alabama|
(205) 458-5170
(205) 244-5669
Heather
Laura Murphy
Associate ~ Birmingham, Alabama|
(205) 458-5306
(205) 714-6886
Laura
Joel (Jay) Price, Jr.
Partner ~ Birmingham, Alabama|
(205) 458-5147
(205) 244-5699
Graham Stieglitz
Partner ~ Atlanta, Georgia|
(404) 685-4316
(404) 214-7923
Graham
Erin Ward
Associate ~ Atlanta, Georgia|
(404) 685-4255
(404) 214-7936
Erin
Andrea Weed
Associate ~ Birmingham, Alabama|
(205) 458-5431
(205) 714-6889
Andrea

Experience Matters

Brief sentence defining representative matters.

  • Creditor Representation

    Bank Counsel for loan workouts, restructurings and bankruptcy filings with respect to manufacturing facilities.
  • Institutional Refinancing of Friends and Family Loans

    Represented borrower, a metal plating manufacturer, in the refinancing of multiple credit facilities; documented related tax-exempt "F reorganization" and dividend distributions. Negotiated, documented and closed deal.
  • Creditor Representation

    Foreclosure on failed resort real estate developments.
  • Loan Refinance

    Represented large corporation in refinancing of loan in the approximate amount of $40 million secured by senior residential facility located in Mobile, Alabama. Involved conversion of approximately $20 Million of loan amount into preferred equity contribution in a newly formed LLC that acquired the facility and refinanced approximately one-half of the corporation's outstanding loan. Scope of work involved advice as to structure of equity investment; and negotiating equity contribution agreement and operating agreement for newly formed limited liability company.
  • Financial Services

    Bank counsel for various foreclosure, workout, and collections matters.

TESTIMONIALS

  • “I have found them very responsive to our requests and requirements, and very knowledgeable of the relevant areas. They are conscious of cost containment and getting the job done. They don’t just churn paper and create billable hours. Everything they do is directed toward achieving our aims. They want us as the client to understand where things are and what our options are, and make sure we understand the consequences of all the options that are available to us. They let us pick door number one or door number two in the knowledge of what we’re leaving behind. They are able to resolve issues using common sense and reasonableness. We speak very highly of them.”

    -Chambers 2012

  • “Definitely have depth and expertise...They have a successful model and one that I’ve tried to imitate."

    -Chambers 2012

  • “They are outstanding and get high marks for their commercial awareness, staffing, training and pro-activity."

    -Chambers 2012

  • “They handle a diverse set of issues – well staffed, well prepared and respected…"

    -Chambers 2012