Greenberg Traurig’s Distressed Businesses Task Force is ready to help you navigate a dramatically different business landscape filled with legal challenges and uncertainty that have forever changed the world around us.
COVID-19, skyrocketing unemployment, and economic instability have impacted global markets, creating difficult and uncertain times for most businesses. Now, more than ever before, businesses need current information and creative, proactive legal advice to best position themselves for success.
Our multi-disciplinary team has the vision and resources to provide you with these vital services and business-focused legal strategies. We leverage our vast platform of legal talent across the firm’s practices worldwide to help protect your business from risks, while we also identify and maximize the associated opportunities.
Our team brings together vital and relevant experience from a cross-section of our practices including Financial Services Litigation, Corporate, Governmental Law & Policy, Restructuring & Bankruptcy, Real Estate, Retail, and Public Finance & Infrastructure.
A collaborative, cost-effective, and entrepreneurial culture
Our collaborative, cost-effective, and entrepreneurial culture is key to how we vigorously advocate for your interests through all stages of the restructuring processes.
With excellence in client service as our top priority, we deliver customized business-focused legal strategy based on our developing a deep understanding of your unique business goals and what drives your industry. We understand that amid change there are opportunities.
Often, these opportunities are identified through a series of targeted activities designed to examine where your business is now and create a plan for the future. The legal services needed to support your business can include:
- Reviewing existing debt service obligations for possible events of default and/or covenant defaults to determine consequences
- Assessing upcoming debt maturities and determining the ability to satisfy or otherwise address obligations
- Engaging with lenders and key constituents to ensure a proactive line of communication
- Considering potential working capital sources and impact on ability to operate
- Reviewing insurance policies to assess potential recoveries and ensure sufficient go-forward coverage.
- Evaluating relationships with vendors and potential impact on their ability to deliver and pay in a timely manner
- Identifying potential supply chain disruptions and the possibility of long- and short-term modifications to mitigate any issues
- Reviewing material contracts for potential force majeure and cross-default issues
- Assessing potential opportunities to purchase distressed debt, acquire businesses, or otherwise invest in distressed companies or assets
- Developing distress mitigation strategies, including exploring alternative financing options, negotiating amendments or extensions to key contracts and debt service obligations, and effectuating in- and out-of-court restructurings.
Energy – Counsel regarding the sale and purchase of distressed assets in all segments and strategy for companies riding out the current challenges ranging from plummeting oil prices to decreased demand for industrial and commercial electricity.
Entertainment & Media – Counsel regarding legal issues resulting from the interruption, suspension, and resumption of live events and film or television productions. Assistance with employment-related issues (including union and guild issues), navigating regulatory requirements, addressing risk management and insurance coverage, assisting with amending credit facilities or creating alternative funding arrangements, and addressing real-estate issues.
Financial Institutions – Litigation defense for Coronavirus Aid, Relief and Economic Security Act (CARES) issues and related risk mitigation, including with respect to commercial and residential defaults, forbearance plans, loan modifications, bank fraud and Ponzi schemes, government enforcement, and the LIBOR transition.
Health Care – Regulatory and transactional counsel regarding pandemic-related insolvencies and restructurings. Assist in acquisitions and dispositions of financially troubled health care facilities and related assets. Representation of for-profit and non-profit hospitals, nursing home facilities, home health agencies, physician groups and related businesses, creditors' committees, equity holders, landlords (including health care facility REITs), lenders, and other stakeholders in financially distressed businesses in bankruptcy proceedings and out-of-court restructurings and workouts.
Hotels & Hospitality – Guidance for managing operational issues regarding new standards of health and safety, physical distancing requirements, creating protocols, reinventing existing spaces within hotels, and re-thinking guest amenities. For owners weathering the financial impact and liquidity challenges of the pandemic, advice on negotiating with third party or brand managers, lenders, risk mitigation, and workforce issues.
Municipalities – Assistance with managing budgetary issues in an environment of declining revenues and increasing expenses is provided by GT’s municipal finance, public finance, and government affairs professionals who are experienced in helping municipalities during periods of financial distress. Provision of long- and short-term solutions using various borrowing mechanisms to achieve budget relief, often working directly with local and state officials to secure results.
Private Equity – Advice regarding acquiring distressed companies or their assets through restructuring, both in and out of bankruptcy, and including loan-to-own strategies, full reorganizations, and Section 363 and plan-related transactions. Help to identify and manage risks and opportunities presented by the bankruptcy process.
Real Estate – Assistance with how to manage the changing needs of employees, tenants, visitors, and customers that are impacting all asset classes in response to the COVID-19 pandemic. Strategies for developers, owners, operators, and financial institutions for a full range of business activities, including acquisition and investment, construction and development, leasing, financing, restructuring, disposition, compliance, and safety.
Retail – Strategies for manufacturers, wholesalers, retailers, and/or e-commerce platforms to preserve value and create liquidity, proactively manage businesses amid challenges, and evaluate financing and alternatives. Restructuring financing on real estate and credit facilities with lenders. Advice on reevaluating commercial contracts, vendor agreements, supply chains and logistics, as well as implementing compliance programs and mitigating legal risk on COVID-19 related claims.