Bankruptcy, Insolvency and Creditors' Rights

We help stakeholders in business insolvencies protect and maximize the value of their interests.

As capital markets, the global economy, and industries evolve and change, corporate insolvencies play an increasingly significant role in today’s business environment. Companies utilize the special provisions of bankruptcy law to buy and sell distressed assets, shed unwanted contractual obligations, restructure balance sheets, resolve legacy obligations, and achieve reductions in workforce. Shumaker, Loop & Kendrick, LLP helps various stakeholders in business insolvencies to protect and maximize the value of their interests.

Clients tell us we add value by getting it right. We devise creative, strategic solutions that meet our clients’ goals, both nationwide—including representation in bankruptcy courts in 36 states—and around the globe. Clients involved in a business insolvency need decisive, spot-on advice to maximize outcomes in insolvency situations. Recognizing that there is little margin for error in business insolvencies, we proactively use our experience and command of applicable law to our clients’ advantage.

Delaware Insolvency Practice

  • Lawyers in our Bankruptcy group have handled numerous cases as lead counsel in bankruptcy cases throughout the U.S., including in Delaware and the Southern District of New York. The U.S. Bankruptcy Code is federal law and is applied substantially uniformly in all U.S. states.
  • Delaware is a unique jurisdiction. Its status as a popular state of incorporation results in many Chapter 11 filings there, even though the Chapter 11 debtors are headquartered elsewhere. Many professionals who are involved in Chapter 11 cases in Delaware are not licensed or located in Delaware. Delaware Bankruptcy Courts routinely allow outside professionals to participate in Delaware Chapter 11 matters.
  • Shumaker has represented numerous creditors’ committees as well as individual creditors and stakeholders regarding their particular legal issues. These include suppliers, customers, counter-parties to contracts, financial institutions, purchasers of assets, and distressed companies.

Global Insolvency Practice

  • Shumaker handles inbound insolvency matters for foreign-based companies or their administrators, including informal restructurings, formal Chapter 11 or Chapter 15 filings, sales of assets, and litigation related to a U.S. presence or business activities. We also represent U.S.-based entities regarding insolvencies in foreign jurisdictions and partner with our global network of professional colleagues for outbound insolvency matters.

Our Clients

  • Creditors’ committees
  • Suppliers to or customers of distressed companies
  • Financial institutions and lenders (both secured and unsecured)
  • Distressed companies, including boards of directors, private equity, and portfolio companies
  • Foreign debtors or administrators in cross-border insolvency cases
  • Trustees in bankruptcy
  • Receivers for distressed assets
  • Counter-parties to contracts with distressed companies
  • Buyers of distressed assets
  • Landlords and tenants

Our Services

  • Official creditors’ committee representation
  • Unsecured creditors’ rights and remedies
  • Secured lender rights and remedies
  • Bankruptcy or workout planning
  • Fiduciary duties of officers and directors
  • Chapter 11 filings
  • Chapter 7 liquidations
  • Cross-border insolvencies, including Chapter 15
  • Post-petition financing
  • First-day motions
  • Receiverships
  • Assignments for the benefit of creditors
  • Non-bankruptcy workouts and forbearance agreements
  • Avoidance litigation
  • Preference defense
  • Equitable subordination claims
  • Lender liability claims
  • Section 363 sales
  • Forensic analysis
  • Intellectual property rights in bankruptcy
  • Labor and employment rights for insolvent companies
  • Collective bargaining and retiree obligations
  • Tax issues arising from distressed companies

News Releases

10.11.2018Steven M. Berman to Speak at the National Conference of Bankruptcy Judges
05.23.2018Tommy McDonnell Elected to the Florida Museum of Photographic Arts Board of Directors
05.14.2018Jay Verona Appointed to the Florida Bar's Grievance Committee "C" of the Thirteenth Circuit
05.10.2018Steve Berman Elected to American Bankruptcy Institute Board of Directors
05.02.2018Mark D. Hildreth Panelist at Tampa Bay Bankruptcy Bar Association Seminar
04.10.2018Steven M. Berman Guest Lecturer at University of Florida College of Law Advanced Bankruptcy Seminar
02.01.2018Steven M. Berman Panelist at 42nd Annual Judge Alexander L. Paskay Seminar on Bankruptcy Law and Practice
11.22.2017Steven M. Berman Admitted to Federal Bar of Puerto Rico
11.08.2017Steven M. Berman Admitted to District of Columbia Bar
10.30.2017David J. Coyle Panelist at Ohio Bankruptcy Bench Bar Conference
09.25.2017Steven M. Berman Moderator at 25th Annual Southwest Bankruptcy Conference
08.23.2017Julia May Joins Shumaker, Loop & Kendrick, LLP
03.17.2017Steven M. Berman Guest Lecturer at University of Florida College of Law Advanced Bankruptcy Seminar
03.16.2017G. Thomas Curran, Jr. Panelist at Hilton Grand Vacations' Vacation Ownership Financial Services Operations Conference
02.21.2017Mark D. Hildreth Panelist at 40th Annual Alexander Paskay Memorial Bankruptcy Conference
02.21.2017Mark D. Hildreth Attends Bankruptcy Mediation Training
11.16.2016Shumaker Earns National and Regional Rankings from U.S. News – Best Lawyers® 2017
11.14.2016Dipawali S. Shah Joins Shumaker, Loop & Kendrick, LLP
04.28.2016Steven M. Berman Panelist at 40th Annual Alexander L. Paskay Memorial Bankruptcy Seminar
04.26.2016Steven M. Berman Speaker at 2016 Bankruptcy Battleground Southwest
02.16.2016Shumaker Attorneys Present to Manatee County Bar Association
02.10.2016Steven M. Berman Guest Lecturer at University of Florida College of Law Advanced Bankruptcy Seminar
01.22.2016Shumaker, Loop & Kendrick, LLP Attorneys Named Business North Carolina's 2016 Legal Elite
11.02.2015Rebbecca A. Goodall to Participate in Mentoring Program
10.07.2015Steven M. Berman Spoke at Certified Bankruptcy Assistant Program
10.05.2015Daniel J. DeLeo Elected to Economic Development Corporation of Sarasota County Board of Directors
06.16.2015H.S. "Brad" deBeaubien Named to Tampa Bay Bankruptcy Bar Association Board
03.31.2015Steven M. Berman and J. Todd Timmerman Guest Lecturers at University of Florida College of Law Advanced Bankruptcy Seminar
11.21.2014G. Thomas Curran, Jr., Speaks to Military Veterans Law Student Association
10.15.2014Thomas F. McDonnell, Jr. Joins Shumaker, Loop & Kendrick,LLP
09.23.2014David H. Conaway to Present to Lyon Furniture Credit Group
09.18.2014David H. Conaway to be a Panelist for Turnaround Management Association Carolinas Chapter
09.17.2014Massive Bankruptcy Case Involving National Nursing Home Chain Goes to Trial in Tampa
09.04.2014David H. Conaway to Present to the Association of International Credit and Trade Finance
08.13.2014Steven M. Berman Featured Speaker at 22nd Annual Southwest Bankruptcy Conference
05.28.2014Christina C. Nethero and H.S. "Brad" deBeaubien Graduate Tampa Connection
05.19.2014David Conaway to Present to The Credit Research Foundation’s Credit and Accounts Receivable Open Forum and Expo
05.14.2014G. Thomas Curran, Jr. Receives Pro Bono Lapel Pin Award
04.18.2014G. Thomas Curran, Jr. Joins Shumaker, Loop & Kendrick, LLP
04.11.2014Steven M. Berman Spoke at 38th Annual Judge Alexander Paskay Memorial Bankruptcy Conference
04.10.2014Steven M. Berman Guest Lecturer at University of Florida College of Law Advanced Bankruptcy Seminar
11.19.2013David H. Conaway to Present to National Steel Mill Credit Group
11.19.2013David H. Conaway to Present to the Commercial Finance Association
11.18.2013David Conaway to be a Panelist for 2-day Association of International Credit and Trade Finance Professionals Webcast
09.19.2013David Conaway to Moderate and Speak on International Credit and Trade Finance Professionals Webcast
08.15.2013Shumaker, Loop & Kendrick, LLP Lawyers Named Best Lawyers' 2014 “Lawyers of the Year”
01.31.2013David H. Conaway Presented ICTF Webcast on "The Use of Corporate Guarantees in U.S. and Canada"
11.28.2012Shumaker Attorneys Hosted Bankruptcy Seminar
11.19.2012Steven M. Berman Participated in JAG Corps Bankruptcy Training
11.19.2012Steven M. Berman Presented at Bankruptcy Seminar
11.16.2012Steven M. Berman Spoke to National Water Products Group
09.25.2012Mark D. Hildreth Panelist at ABI 17th Annual Southeast Bankruptcy Workshop
05.17.2012Steven M. Berman Guest Lecturer at University of Florida College of Law Advanced Bankruptcy Seminar
04.19.2012David H. Conaway Panelist on "Creditor Participation Rights in Insolvency Proceedings" for University College London Conference
03.23.2012David H. Conaway Presented "Cross-Border Insolvency, Chapter 15, and Comparative Analysis of Foreign Countries Insolvency Laws" before the National Paper Packaging Credit Group
03.05.2012Steven M. Berman to Speak at 36th Annual Judge Alexander l. Paskay Seminar
02.14.2012Steven M. Berman Panelist at 20th Annual Bankruptcy Battleground West
09.29.2011David M. Grogan Presenter at National Apparel & Footwear Credit Association
09.27.2011Steven M. Berman Participating in JAG Corps Bankruptcy Training
09.15.2011Steven M. Berman Participated in ABI Southwest’s Second Annual Great Debates
07.20.2011David H. Conaway to Present ICTF Webcast on "Chapter 15 - Cross Border Insolvency Issues"
03.11.2011Steven M. Berman Panelist for San Diego Bankruptcy Forum
03.10.2011Steven M. Berman Spoke at 35th Annual Judge Alexander L. Paskay Bankruptcy Seminar
10.13.2010Rachel B. Goodman Joins Shumaker, Loop & Kendrick, LLP
10.08.2010David H. Conaway to Speak Before Juvenile Products Credit Group
07.01.2010Shumaker, Loop & Kendrick, LLP Attorneys Named to Super Lawyers, Corporate Counsel Edition
06.24.2010Steven M. Berman to Speak at San Diego Bankruptcy Forum Workshop
06.15.2010Steven M. Berman Panelist at 26th Annual Bankruptcy & Restructuring Conference
06.07.2010Steven M. Berman Panelist at 22nd Annual Insolvency Conference, California Bankruptcy Forum
05.05.2010David Conaway to Speak Before the Furniture Manufactures Credit Association
09.30.2009Steven M. Berman Will Participate as a Panelist for the San Diego Bankruptcy Forum Auto Mega Case Program
08.25.2009Steven M. Berman Speaking on Evidence and Litigation Skills at American Bankruptcy Institute's Southwest Regional Conference
06.09.2009Steven M. Berman Guest Lecturer at Advanced Bankruptcy Seminar
05.26.2009Steven M. Berman Participant in California Bankruptcy Forum Annual Conference
05.01.2009Steven M. Berman Spoke at Annual Spring Meeting of the American Bankruptcy Institute
12.01.2008Steven M. Berman to Speak at Annual Spring Meeting of the American Bankruptcy Institute

Publications

11.21.2018"A Rose by Another Name has its Thorns," Eurofenix, Autumn 2018
04.01.2018Client Alert: Dumbing Down Intellectual Property: Chapter 11 Impact on IP License Agreements
03.15.2018"Captive Insurance Deskbook for the Business Lawyer". Chicago, Ill.: ABA Section of Business Law, 2018, Editor & Contributor
03.01.2018Chapter 15: Delaware Court Sends U.S. Creditor Packing . . . to Italy
January 2018Client Alert: Managing Credit Risk in the Supply Chain
12.11.2017Bankruptcy Law Update: Preferences and Selected Bankruptcy Issues
12.07.2017"Takata: The Unfortunate Recall," ACC Charlotte Chapter, December 2017 Newsletter
11.17.2017Client Alert: Shorter Deadline for Filing Bankruptcy Claims and Other Changes to Bankruptcy Rules Starting December 1st
September 2017Client Alert: Vendor Section 503(b)(9) Administrative Priority Claims: When Goods are Received is Critical
07.26.2017"The Uniform Voidable Transactions Act in a Nutshell"
06.01.2017Client Alert: Chapter 15: A Sword and A Shield
05.05.2017"Chapter 15 and Cross-Border Insolvency"
04.26.2017“Takata:  The Unfortunate Recall,” Eurofenix, Winter 2016/17
03.31.2017"The Chapter 11 Vendor Game Changer: Section 503(b)(9) Claims
10.28.2016Client Alert: Federal Appeals Court Rules That Bankrupt Debtors’ Choice to "Surrender" Real Property Waives Their Right to Contest Foreclosure
October 2016"Unsecured Creditor Carve-outs:  Chapter 11 Misery Makes Strange Bedfellows1"
October 2016"Recent Delaware Chapter 11 Case Supports Vendors' Reclamation Claims"
07.25.2016"When Worlds Collide: Article 2 of the Uniform Commercial Code and Chapter 11," American Bankruptcy Institute, ABI Committee Newsletter, Volume 14, Number 3, July 2016
06.29.2016"International Sales Contracts: Square Peg, Round Hole"
04.04.2016"International Sales Contracts: Square Peg, Round Hole"
02.11.2016"When Worlds Collide: Article 2 of The Uniform Commercial Code and Chapter 11"
02.02.2016Bankruptcy Law News: Reclamation or Section 503(b)(9) Claim? - A Potential Trap
11.01.2015"The Customer Triangle: Who's At Risk"
November/December 2015"Working on the Chain Gang:  Supply Chain Finance as the New Normal," Greater Charlotte Biz magazine, November/December, 2015
10.01.2015Client Alert: Global Supply Chain Risk - Human Trafficking and Slavery
09.09.2015Client Alert: Preferences - Mining the Ordinary Course of Business Defense
Fall 2015"Knowledge is power: Bankruptcy trustee allowed to establish foundation for business records exception," State-to-State newsletter
07.30.2015Bankruptcy Law News: Recoupment or Setoff? - A Distinction with a Difference
07.17.2015"Neither a Borrower Nor a Lender be …,"  Credit Research Foundation CRF News, Second Quarter 2015
06.30.2015Client Alert: Hurts So Good - US Supreme Court Rejects Attorneys Fees in Chapter 11
Summer 2015"It Ain't Over Till It's Over": Supreme Court Deems Orders Denying Confirmation Non-Final, The Cramdown
06.01.2015Down but Not Out: Bankruptcy's Effect on Diversity of Citizenship
04.01.2015"Neither a Borrower Nor a Lender be ...¹ "
03.01.2015"Reducing a Customer’s Accounts Receivable in the Zone of Insolvency," ICTF World, March 2015
Winter 2014/2015"A hunt for justice erodes the attorney-client privilege;" Eurofenix, Winter 2014/15
12.08.2014"A Hunt for Justice Erodes the Attorney-Client Privilege"
October 2014"Reducing a Customer's Accounts Receivable in the Zone of Insolvency;" Credit Research Foundation
06.01.2014Eleventh Circuit Denies Rehearing En Banc in McNeal, The Cramdown
05.01/2014"Working on the Chain Gang - Supply Chain Finance as the 'New Normal'"
04.30.2014"Business Bankruptcy: Executive Summary - Need to Know Bankruptcy Concepts"
Winter 2013/2014"Working on the chain gang:  Supply chain finance as the new norm;" Eurofenix, Winter 2013/14
11.2013"How Much Diligence is Due? Defining an Attorney's Duty to Perform a Pre-petition Inquiry," ABI Journal (Vol. XXXII, No. 10)
10.08.2013"Snowden. . .Snail Mail. . .Surveillance"; Eurofenix, Autumn 2013
Summer 2013"A Value Play:  Chapter 11 Mergers and Acquisitions"; Eurofenix, Summer 2013
June 2013"A Value Play:  Chapter 11 Mergers and Acquisitions"; Business Credit, a publication of National Association of Credit Management
May 2013"The $382,901 Check Really is in the Mail"
04.19.2013"A Value Play:  Chapter 11 Mergers and Acquisitions”; Charlotte Business Journal 
03.31.2013"Can't You Hear Me Knocking? The Dreaded Preference Demand"; The Credit and Financial Management Review, Volume 19, Number 1, First Quarter 2013
Spring 2013"Comparative Study Assists Reform of Chapter 11"; Eurofenix, Spring 2013
01.18.2013"Neither a Borrower Nor a Lender Be:  Sources of Working Capital in U.S. and Canadian Insolvencies"; Charlotte Business Journal; The Credit and Financial Management Review
12.01.2012"Neither a borrower nor a lender be"; Eurofenix, Winter 2012/13
12.01.2012"USA:  The Mexican Hat Dance:  the Story of Vitro"; Eurofenix, Winter 2012
11.07.2012"Can't You Hear Me Knocking? The Dreaded Preference Demand"; ictfworld.org e-newsletter, The Association of International Credit and Trade Finance Professionals
11.01.2012"Can't You Hear Me Knocking? The Dreaded Preference Demand"; insights Newsletter, Fall 2012
10.16.2012"Can't you hear me knocking?  The dreaded preference demand."  Eurofenix, Autumn 2012
07.20.2012"New York Bankruptcy Court Flexes Global Muscle"; Eurofenix, Summer 2012
02.21.2012"It's Alive! Deepening Insolvency Helps Creditors Recover"; Shumaker, Loop & Kendrick, LLP Newsletter
02.10.2012"Chapter 15:  International Bankruptcy:  Foreign Debtors Get Green Light to Sue U.S. Companies"; Charlotte Business Journal
12.01.2011"Chapter 15: International Bankruptcy: Foreign Debtors Get Green Light to Sue U.S. Companies"; Eurofenix, Winter 2011/12
10.01.2011"Setoff: A 100% Solution"; Shumaker, Loop & Kendrick, LLP Legal Update
10.01.2011"Mexican Companies Cross Border for Protection"; ictfworld.org e-newsletter, The Association of International Credit and Trade Finance Professionals
06.01.2011"Where is a Company's Centre of Main Interest?"; ictfworld.org, e-newsletter, The Association of International Credit and Trade Finance Professionals
05.31.2011"Shareholder LBO: Safe Harbor for Cash Out?"; Shumaker, Loop & Kendrick, LLP Legal Update
12.01.2010"US Sale of the Century: Five Days in September"; Eurofenix, Winter 2010/11
11.19.2010"Setoffs in Bankruptcy"
04.19.2010"Bankruptcy Law Update: Payment is Not Always Certain for Postpetition Sales to a Bankruptcy Debtor"
06.01.2009"Bankruptcy in the U.S.: The Need to Know Bankruptcy Concepts Part 2"; Eurofenix, Summer 2009
04.30.2009"Reclamation and §503(B)(9): Issues in the Aftermath of Phar-Mor v. McKesson"
12.01.2008"Bankruptcy in the U.S.: The Need to Know Bankruptcy Concepts Part 1"; Eurofenix, Winter 2008/09
11.01.2008"Business Bankruptcy - Executive Summary"; Shumaker, Loop & Kendrick, LLP Legal Update
05.14.2004"Critical-Vendor Status Key In Bankruptcy"; Charlotte Business Journal, Business of Law Issue

Newsletters

Events and Presentations

06.14.2018Managing License Agreement Risk: Don't Let Chapter 11 Dumb Down Your Intellectual Property
04.06.2018Guest Lecturer, University of Florida College of Law Advanced Bankruptcy Seminar
01.18.2018Panelist, "Plenary Session: Case Law Update," 42nd Annual Judge Alexander L. Paskay Seminar on Bankruptcy Law and Practice
09.07.2017Panelist, American Bankruptcy Institute's 25th Annual Southwest Bankruptcy Conference
03.17.2017Guest Lecturer, University of Florida Levin College of Law Advanced Bankruptcy Seminar
02.18.2016National Steel Mill Group, Clearwater, Florida
02.11.2016Furniture Manufacturers Credit Association, Greensboro, North Carolina
01.20.2016International Textile Credit Clearing House, Charlotte, North Carolina
10.15.2015The Association of International Credit and Trade Finance Professionals
10.06.2015Certified Bankruptcy Assistant Program
09.12.201523rd Annual ABI Southwest Bankruptcy Conference
10.28.2014Turnaround Management Association, Carolinas Chapter, Charlotte, North Carolina
10.9.2014Lyon Furniture Credit Group, Myrtle Beach, South Carolina
09.16.2014Association of International Credit and Trade Finance
08.26.2014"Business Bankruptcy: Executive Summary Need to Know U.S. Bankruptcy Concepts for Trade Creditors"
08.19.2014The Credit Research Foundation’s Credit and Accounts Receivable Open Forum and Expo, Denver, Colorado
04.17.2014Charlotte CFDD
11.14.2013National Electrical Manufacturers Credit Group
10.01.2013The Association of International Credit and Trade Finance Professionals (ICTF), webcast
09.23.2011"Chapter 15 — International Bankruptcy"
05.04.2010"Bankruptcy in NC"