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PRACTICE AREAS
Business Reorganization, Bankruptcy & Insolvency
The confluence of a worldwide economic recession and serial failures by major financial institutions has generated a "perfect financial storm" for many companies and their creditors. In such perilous and challenging circumstances, the selection of legal counsel has become more critical than ever.
Mere knowledge of the Bankruptcy Code and a readiness to plunge the client immediately into a bankruptcy case from which the client may not emerge are not the appropriate selection criteria. A truly effective attorney brings a number of far more important qualities to his or her client. These qualities include integrity, good judgment, the wisdom that comes from experience, the ability to listen carefully to the client and understand its needs and objectives, pragmatism, the ability -- and, more importantly, the commitment -- to communicate and consult with the client on a constant basis, a sophisticated understanding of the business and industry of the client, and the ability to negotiate and litigate successfully.
The members of the Butler Rubin Business Reorganization, Bankruptcy, and Insolvency team embody all of these qualities. They have been honored and recognized by peers, judges, and publications as among the best insolvency lawyers in our nation and have authored numerous articles about the Bankruptcy Code and other laws affecting debtors and creditors. They have long served as contributing editors to the major bankruptcy law treatises. They are routinely invited to speak to groups of attorneys and judges, in-house legal departments and employees, and industry groups. Our Business Reorganization, Bankruptcy and Insolvency practice group was ranked among the leading Chicago firms in the field in U.S. News and Best Lawyers' inaugural 2010 law firm rankings and the firm earned a "Best Law Firm" ranking.
Butler Rubin lawyers have represented debtors, committees of creditors, secured and unsecured creditors, lessors, lessees, state and federal court receivers, and purchasers of stock or assets in hundreds of bankruptcy cases, out of court restructurings, and insurance insolvency proceedings. They have represented both petitioning creditors and debtors in involuntary bankruptcy cases. They have played prominent roles in some of the largest and most highly publicized bankruptcy cases in American history. They have successfully tried many complex civil cases and have briefed and litigated virtually every issue that can arise under the Bankruptcy Code.
Those cases involve the representation of clients in a myriad of industries, including agricultural product companies, air carriers, automotive products, construction companies, energy companies, fabricating companies, food processing companies, grocery chains, hotels and resorts, insurance companies, manufacturing companies, mining companies, OEM companies, pharmaceutical companies, promotional product companies, publicly traded companies, public and private utilities, railroads, real estate developers, restaurant chains, retail chains, shopping center owners, "single asset" real estate, steel companies, and time-share and fractional ownership companies.
They have represented clients in matters involving, among other issues, asbestos related disease and other mass tort claims, ,environmental and superfund claims, ERISA and PBGC issues, fraudulent transfer, forensic investigations, labor disputes, lender liability, cross border insolvency, and OSHA issues.
The members of the Butler Rubin bankruptcy team have truly national practice, having appeared in bankruptcy cases in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Washington, Wisconsin and the Territory of Puerto Rico. They have represented clients in cases before the United States Court of Appeals for the Sixth, Seventh, Eighth, Ninth, Tenth and Eleventh Circuits.
Among the cases in which Butler Rubin attorneys have played prominent roles are the following:
Debtors: HA-LO Industries, Inc., Midwest Processing Company; and VMS Realty (out of court restructuring), Amdura Corp., AM International, Inc., Atcheson Topeka and Santa Fe Railroad Corp. Energy Cooperative, Inc., Goldblatt Bros. Department Stores, Inc., Jartran cases, Kassuba real estate cases, Kroh Bros. Real Estate Development Corp., North American Car Corporation, Pettibone Corp., Rock Island Railroad Corp, VMS Realty, Inc., Wisconsin Steel Corp., American Freight Systems, Inc., Gillett Holdings, Inc.
Secured Creditors: Principal Life, Lincoln National, Delaware Investments, CIGNA, The CIT Group, Citicorp North America, Citibank, Bank of America, Bankers Trust Company, NBD Bank, First National Bank of Chicago, Firstar Bank, LaSalle Bank, National Westminster Bank, Société General, Fleet Capital Corporation, Bank One, Sanwa Business Credit, Coast Business Credit, FINOVA Capital, GE Capital
Committees of Unsecured Creditors: Stone & Webster, UNR Industries, Inc. (first of the asbestos-driven Chapter 11 cases), Federated Department Stores, Inc., A. H. Robins (counsel to unofficial committee comprising over 2,000 "Dalkon Shield" victims), Nucorp Energy, Inc., Scandinavian Design Corp., Bally Total Fitness, Hartmarx Corporation, The Fairchild Corporation
Railroad Reorganizations: Chicago, Central & Pacific case and representation of Citicorp and Heller Financial, the secured lenders, in the Chicago, Missouri & Western Railway Chapter 11 case
Other Representations: Conseco, Inc. (Chicago counsel for senior note holders), GHI Inc. (GATX Corp., as lessor of oil refinery and personal property), Outboard Marine Corp. (major creditor, a foreign engine manufacturer), In re Stoecker (largest unsecured creditor), United Airlines, Inc. (aircraft suppliers), McDonnell Douglas Corporation and McDonnell Douglas Finance Corporation (among largest creditors in Midway Airlines, Inc. bankruptcy)
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