Morrison & Foerster’s Business Restructuring & Insolvency Group is at the vanguard of the profession. No practice is more integrally involved in the unprecedented restructuring matters that have unfolded in recent years.
MoFo is lead bankruptcy counsel to Residential Capital, LLC, one of the largest real estate finance companies in the world, in the largest Chapter 11 case of 2012. The ResCap case is the first time a mortgage servicer has successfully continued servicing and originating mortgages in bankruptcy. We represent the trustee for MF Global in the largest Chapter 11 case of 2011, where we have helped settle more than $3 billion of claims against affiliates which will lead to a substantial recovery for unsecured creditors and sharply reduce (and potentially eliminate) a massive $1.6 billion shortfall in customer accounts. We were successful on behalf of Amalgamated Bank in the United States Supreme Court’s much-anticipated ruling in RadLAX Gateway Hotel, LLC v. Amalgamated Bank in favor of a secured creditor’s right to credit bid at an auction sale of its collateral in the bankruptcy context. MoFo was instrumental in rewriting Iceland’s insolvency law. We also advised the insurance division of the State of Rhode Island’s Department of Business Regulation in the first-ever proposed discharge and liquidation of obligations of a solvent insurer in United States history. And the firm represents the official unsecured creditors committee of Ambac Financial Group, one of the largest financial services bankruptcies ever, in what is believed to be the first-ever partial rehabilitation in the United States.
Restructurings are never easy; they are also never the same. We are best known for our ability to devise innovative solutions to the most difficult problems facing clients worldwide. It is what sets us apart. We are counsel to debtors, creditors’ committees, ad hoc committees, secured lenders, and other participants in the distressed markets. We handle financial institutions restructurings, cross-border insolvencies, distressed real estate, insolvencies involving key intellectual property, and hedge fund failures, among other things. Our experience and intellectual agility allows us to accomplish the best results for our clients.
Our lawyers understand diverse industries across many geographical and cultural environments. Our ability to work closely with MoFo’s other global practice groups to structure transactions to minimize or eliminate future insolvency exposure and develop and implement optimal litigation strategies makes us effective advocates for our clients. The strengths, resources, and connections of a large international law firm—with more than 1000 lawyers and 16 offices serving all major United States and world centers of finance and technology—allow us to provide the best service to our clients on a global scale.
We are not just a bankruptcy group; we are a global firm that provides world-class restructuring and insolvency services.
Our work has not gone unnoticed. Our team garnered a string of accolades in 2012, including “Bankruptcy Group of the Year” by Law360, a Chambers nomination for “Bankruptcy & Restructuring Team of the Year,” and an IFLR Awards nomination for “Restructuring Team of the Year.” We have also been recommended as a leading firm for bankruptcy and restructuring in the U.S. by Chambers Global 2013.