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 filed in 2012. ResCap is the first financial services company to successfully continue its regulated business operations in bankruptcy and be sold as a going concern. We represented the Chapter 11 Trustee for MF Global in the largest chapter 11 case of 2011, where we helped settle more than $3 billion of claims against affiliates which will lead to a substantial recovery for unsecured creditors and 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 represented 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 work has not gone unnoticed. Our team has garnered a string of accolades in 2012 and 2013, including being named “Bankruptcy Firm of the Year” for 2013 by Chambers USA and “Bankruptcy Group of the Year” for 2012 by Law360. We also received a Chambers nomination for “Bankruptcy & Restructuring Team of the Year” for 2012 and an IFLR Awards nomination for “Restructuring Team of the Year” for 2012.