McGuireWoods is a full-service firm providing
legal and public affairs solutions to corporate, individual and nonprofit clients worldwide for more than 200 years
collectively. Our commitment to excellence in everything we do gives our
clients a competitive edge in everything they do.
Our law firm, over its
185-year history, has earned the loyalty of our many longstanding clients with
deep understanding of their businesses, and broad skills in corporate
transactions, high-stakes disputes, and complex regulatory and compliance
matters. Our wholly owned affiliate, McGuireWoods Consulting, now in its 21st
year, provides a unique – and uniquely potent – combination of state and
federal government relations prowess, buttressed by world-class infrastructure,
economic development, and advocacy expertise.
Working together from
26 offices in the US, Europe and Asia, McGuireWoods and McGuireWoods Consulting
share a dedication to diverse perspectives, impeccable service, and innovative
delivery of practical, business-minded solutions.
It all adds up to
excellence . . . for our clients.
Restructuring and Insolvency
Restructuring and Insolvency Department stands ready to assist clients with any
and all insolvency situations. Our national team includes lawyers with
transactional and litigation strength. We represent debtors and debtors in
possession, secured creditors and unsecured creditors' committees, agents, bank
groups, senior and mezzanine lenders, trustees and receivers in all types of
debt restructuring, litigation and bankruptcy reorganisation proceedings,
including out-of-court workouts.
Our lawyers handle
large regional, national and international matters, and our practice crosses
industries, including energy, retail, transportation, real estate,
manufacturing and telecommunications. The firm’s clients include manufacturers,
trade creditors, and financial institutions such as banks, hedge funds, private
equity firms, bondholder committees and asset-based lenders.
We bring hands-on
skill to each engagement. Team members include business bankruptcy specialists
certified by the American Board of Certification; members of the prestigious
American College of Bankruptcy; and members of regional and national industry
organisations such as the American Bankruptcy Institute, International Women’s
Insolvency and Restructuring Confederation, and Turnaround Management
Association. In addition, many team members began their legal careers as
judicial clerks for federal bankruptcy judges.
Because of our
experience, geographic reach and size, the team represents parties in
restructuring and bankruptcy proceedings anywhere in the United States. Our
collaborative approach means we achieve prompt results, knowing that a speedy
resolution reduces costs, improves efficiency and preserves value for clients.
McGuireWoods lawyers have tried cases and successfully argued appeals on a
myriad of bankruptcy issues involving bankruptcy sales, termination of pension
plans, modification of retiree benefits, bankruptcy class action certifications
and numerous other complex matters.
Representative Matters Include:
of Xybernaut Corporation as Chapter 11 debtor.
of Weirton Steel Corporation as Chapter 11 debtor.
of Virginia Carolina Peanut Farmers Cooperative Association as Chapter 11
US bank as
administrative and collateral agent in the restructuring of $225 million of
loans to a publicly held hospitality company.
of US Airways Group, Inc. as Chapter 11 debtor.
of media group in the wind-down of its operations following the sale of the
majority of its assets to various purchasers. Relationship began as emergency
response to a court order freezing company assets and continued as general
assistance including negotiations with trade vendors, landlords, and
of lender in Chapter 11 of operator of 600-room hotel, successfully opposing
cramdown and obtaining relief from stay. Represented lender in subsequent
bankruptcy of land lessor to prior debtor, again obtaining relief from stay. In
addition, representation of a trustee in bankruptcy of Midwestern publicly held
limited partnerships with hotels undergoing Chapter 11 reorganisation.
one of Chicago's largest banks in a lawsuit brought by a commercial borrower
alleging the bank caused more than $30 million in damages and the downfall of
its company when the bank improperly declared an event of default under the
loan documents, failed to approve an infusion of capital through mezzanine
financing, tortiously interfered with prospective
business relationships and wrongfully dishonoured checks. After granting the
bank summary judgement regarding breach of approximately $6 million in loans,
the court entered judgement in favour of the bank on the borrower’s remaining
claims after a bench trial that extended over the course of a year.
of Pittsburgh Hockey Associates d/b/a Pittsburgh Penguins as Chapter 11 debtor.
of both debtors and landlords in lease assumptions and rejections in chapter 11
cases, including representation of an institutional landlord of approximately
30 properties in foreclose on a Southwestern retailer restructuring debt under
of real estate company that invests in, develops, acquires, and manages
multifamily residential properties as defendant in fradulent
transfer action brought by a trustee of American Housing Foundation. We
successfully negotiated a fair settlement and avoided trial.
of Fortune 100 financial services company as the primary secured lender in the
bankruptcy cases of two real estate holding companies of a group of companies
that the bank had been litigating against in state and federal court in
Virginia. Obtained the appointment of a chapter 11 trustee in 2013, and are
working with him to liquidate the real estate to satisfy the bank’s claim.
of an insolvent Icelandic bank in relation to potential claims against another
major international bank arising from various outstanding foreign exchange
positions at the time of the insolvency of the Icelandic bank in 2008. Complex
legal and factual accountancy points arose as to the proper calculation of
amounts due in relation to the underlying derivatives. The opponent denied that
any sums were due to our client above those it had already paid but, following
a number of hard-fought negotiations, agreed to a confidential settlement
agreement pursuant to which it would be required to make a further payment of
of a state finance authority in a matter involving a lender’s attempt to
release a borrower and its related corporate entity, which had filed for
bankruptcy, from a guarantee for a loan in which the authority had
participated. This matter, which concerned the relative rights and powers
between a lender and its participant, was settled favourably and our client
received over 97% of the repurchase calculation.
significant business interests in transactions and litigation, with a strong
concentration in the areas of business insolvency and debtor-creditor
relations. He has extensive experience representing a range of clients in
business matters throughout the United States and overseas.
Richard is an adjunct
professor at Chicago Kent College of Law, where he has taught Bankruptcy Law
each year since 1983. He has been named to Best Lawyers in America, Illinois Superlawyers and Leading Lawyers Network and currently
serves as co-chair of the Insolvency Section of the International Bar
Association and chair of the Education Committee of the American College of Bankruptcy.
He is a frequent speaker at continuing legal education programmes sponsored by
organisations such as the American Bar Association, International Bar
Association, American Bankruptcy Institute, Commercial Law League of America,
Practicing Law Institute, National Association of Bankruptcy Trustees, and
state and local bar associations.
Richard has been
admitted to and appeared in various federal courts in 20 states.
of foreign entity purchasing businesses from restructuring debtor.
of foreign insolvency representative in US ancillary proceeding.
of a state agency sued by a bankrupt estate for breach of contract and
of the principal commodity trading partner of Chapter 11 debtor with several
billion dollars in debts.
of trustee in bankruptcy in multi-billion dollar Chapter 7 case.
of a national chain of medical clinics facing regulatory matters.
of directors in disputes concerning corporate governance.
of an unsecured creditor’s committee of airline reorganising in Chapter 11.
of an unsecured creditor’s committee of printing equipment producer in Chapter
of a principal partner of a Midwestern real estate venture restructuring debts
exceeding $3 billion.
of various banks and insurance companies with financially troubled borrowers.
of a company in a Midwestern telecommunications business suing to invalidate a
$50 million leveraged buy-out.
of a leveraged lessor of approximately $100 million in hotels to a national
hotel chain reorganising under Chapter 11.
of an unsecured creditors committee of Midwestern metal stamping manufacturer
restructuring under Chapter 11.
of an institutional landlord of approximately 30 properties to a Southwestern
retailer restructuring debt under Chapter 11.
of a trustee in bankruptcy of Midwestern publicly held limited partnerships
with hotels undergoing Chapter 11 reorganisation.
of a purchaser of all operating assets of a Midwestern manufacturer of
automotive parts undergoing Chapter 11 reorganisation.
of a group of creditors with multimillion-dollar claims against the bankruptcy
estate of one of the country's largest “Ponzi schemes".
of a producer of the operations of a leather belt manufacturer reorganising
under Chapter 11.
of a defendant in asbestos-related litigation relating to a bankruptcy case.
of a foreign bank seizing the bankruptcy estate of a locomotive manufacturer
for improper liquidation of its collateral.