Banking, Finance, and Debt Restructuring Practice: Our Value Proposition
Full-Service Innovative Approach. Spruce Law offers a comprehensive, cross-disciplinary approach and results-driven service platform for the representation of our clients. Our attorneys represent national and regional banks, equipment finance companies, investment funds, and other financial institutions in a broad variety of matters, including commercial loan transactions, equipment leasing, securitizations, sales and acquisitions of financial asset portfolios, bankruptcy and debt restructuring, creditors’ rights, financial services litigation, and regulatory matters. Our attorneys have practiced with some of the largest and most respected global firms, corporate legal departments, and specialty law practices. We are a team of seasoned legal professionals and industry leaders, with pedigrees equal to those found at traditional large firms. However, Spruce Law’s unique and innovative approach enables us to serve financial services clients with maximum efficiency.
Banking and Finance Transactions. Representation of banks and other financial institutions in lending and other commercial finance transactions is at the core of Spruce Law’s Banking, Finance, and Debt Restructuring practice. Our attorneys are experienced in the negotiation, structuring, and documentation of commercial and industrial loans, asset-based loans, real estate and construction loans, SBA-guaranteed loans, letter of credit transactions, and equipment leasing and finance transactions. Well-versed in all aspects of the Uniform
Commercial Code and the Bankruptcy Code, as well as the enforcement of creditors’ rights, Spruce Law counsels clients on various forms of credit enhancement and optimal structure of credit relationship. Our attorneys also routinely handle sales and acquisitions of financial assets, including distressed-asset portfolios, and securitizations. Our attorneys are prepared to meet the tight timeframe requirements often imposed in loan transactions. Relying on our comprehensive library of firm-crafted model loan documents and incorporating our clients’ specific documentation guidelines, we cost-effectively handle complex, as well as “garden-variety” transactions.
Debt Restructuring and Bankruptcy. Spruce Law regularly represents banking and finance clients in workouts and debt restructurings, bankruptcy and reorganizations, and enforcement of creditors’ rights. We represent our financial services clients in their efforts to collect defaulted loans and utilize their collateral security, as well as in their efforts to restructure and otherwise work their way out of distressed credits. As part of such representations, we help clients maximize recovery while minimizing potential risk. Our bankruptcy and debt restructuring attorneys routinely negotiate, document and successfully implement forbearance and debt restructuring agreements, plans of reorganization, debtor-in-possession (DIP) financing documents and orders, and exit financings and successfully litigate stay relief and cash collateral issues. Our attorneys also conduct non-bankruptcy asset liquidations on behalf of secured lenders, and handle acquisitions and dispositions of distressed assets.
Clients rely on Spruce Law for representation in various types of bankruptcy litigation. Our attorneys routinely defend clients against preference, fraudulent transfer, and other avoidance actions and other adversary proceedings pursued brought by debtors-in-possession, bankruptcy trustees, or unsecured creditors’ committees. In addition, our attorneys have successfully sought appointment of special examiners and chapter 11 trustees, pursued nonobjection-to-discharge actions, and defended various lender liability matters.
Financial Services Litigation. Our attorneys have represented many clients in disputes arising out of checks and payments under Articles 3 and 4 of the Uniform Commercial Code, enforcement of defaulted loans, mortgage foreclosure proceedings, lender liability litigation, and other commercial disputes. We also offer substantial experience in guiding clients through Attorney General investigations and regulatory investigations. Our litigators and trial lawyers are experienced in all types of financial services litigation and alternative dispute resolution and have a strong track record obtaining successful outcomes in court as well as in arbitration and mediation.
Spruce Law Add Value. In addition to high-quality transactional, bankruptcy, and litigation services with competitive fee structures, Spruce Law attorneys also offer a variety of additional, relevant services to our banking and financial services clients.
With the support of our Corporate and Business Law Practice, we offer significant experience in negotiating a range of transactions that may be of importance to our clients. Whether structuring and documenting an asset sale or acquisition, a complex merger, or simply documenting a routine business arrangement, we offer precise, tactical, and personalized legal representation for every deal.
Spruce Law Employment attorneys will help banks and finance companies in all aspects of key talent management, from negotiating and documenting executive compensation packages to assisting HR departments in handling ongoing employment matters.
We also offer significant experience in environmental matters typically encountered by our banking and finance clients. In addition to being qualified to review and advise clients on environmental reports and notices, we anticipate the challenges along the way based on our past experience, look to minimize risk, wherever possible, and offer practical and effective solutions for every situation.
Representative Matters Handled by Team Members in This Practice
- Obtained a multi-million dollar judgment in favor of a regional bank in an adversary proceeding under Section 523 of the Bankruptcy Code in a chapter 7 bankruptcy cases in the Bankruptcy Court for the Eastern District of New York.
- Achieved full recovery of the outstanding principal, accrued interest and legal fees on a commercial mortgage loan which required successful representation of a regional bank in the borrower’s chapter 11 case in bankruptcy court in Pennsylvania and a subsequent sale of the distressed loan.
- Represented a national equipment leasing company in connection with the financings of several million-dollar vehicle lease portfolios.
- Represented a purchaser of Burger King® franchises at a § 363 sale in the Bankruptcy Court for the Eastern District of Pennsylvania.
- Represented a pre-petition secured lender and exit financing lender in the bankruptcy of a regional furniture retailer in the Bankruptcy Court for the District of New Jersey.
- Represented a pre-petition secured lender and DIP lender in the bankruptcy of a construction company in the Bankruptcy Court for the Eastern District of Pennsylvania.