Background - Practices (Details)

Strategic Counseling for Distressed Debt & Claims Trading

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Crowell & Moring regularly advises financial institutions and investment funds on all aspects of distressed debt investing and claims trading, including market-timely analysis of indentures and credit documents, trade claims, swap and derivative claims, loan participations and post-reorganization equity and other securities. For clients who wish to capitalize on dislocations in the market place, we help clients implement loan-to-own strategies, credit bidding and debtor-in-possession and exit financings. 

Each year we serve more than 45 different financial institutions in the distressed investing space including international credit funds, banks, financial institutions, companies and their boards, and opportunistic investors to evaluate and execute strategies across all asset classes, sectors and geographic location.

Our team draws on its experienced restructuring, tax, mergers & acquisitions, and bankruptcy litigation lawyers to provide a comprehensive approach to sophisticated investors in identifying dislocations and emerging distressed opportunities.

Representative Experience

  • Representation of credit funds and sell side distressed desks in the acquisition of subrogation claims in the PG&E bankruptcy proceeding.
  • Representation of private equity firms in several loan-to-own strategies in the various industries including aviation, travel, healthcare, retail and energy.
  • Representation of a consortium of hedge and credit funds in the acquisition a multi-billion-dollar guaranty claim in the Westinghouse Electric bankruptcy proceeding and numerous multi-million dollar trade claims.
  • Notable recent transactions have involved investments in Hertz, PG&E, Mallinckrodt Pharmaceutical, Extraction Oil & Gas, Garrett Motion, Revlon, Serta, J. Crew, Ultra Petroleum, Peabody Coal, Oi SA and Lehman Brothers.