Bankruptcy & Creditors' Rights

The Bankruptcy and Creditors' Rights practice at Saiber combines the firm’s expertise in a wide variety of legal specialties such as corporate, real estate, lending, environmental, finance and taxation with a thorough understanding of the Bankruptcy Code to achieve the best possible outcome for our clients. Our Bankruptcy and Creditors' Rights practice group has the litigation skills, transactional background and bankruptcy expertise necessary to understand the interplay of these disciplines in insolvency matters. We are sensitive to the challenges facing both large and small businesses in an uncertain, volatile economy, and are always in continual contact with our clients to ensure that matters are resolved in an efficient and cost effective manner.

Although the practice group has extensive experience working with businesses in financial distress, we primarily focus on aggressive creditor representation. Our clients include both local and multi-state commercial banks and thrifts, out-of-state banks with operations in New Jersey, major life insurance companies and other financial institutions. We engage in the creative restructuring of existing lending facilities and in all phases of creditor/debtor litigation. We oversee an active practice in the bankruptcy courts, as well as other federal and state courts where related issues, such as mortgage foreclosures and lender liability, must be resolved.

The issues regularly covered by Saiber include:

Asset Recovery and Foreclosure

We represent secured creditors in all aspects of asset recovery. We take advantage of specialized techniques to locate, seize and sell personal property with a concentration in recovery of accounts receivable proceeds, inventory and equipment. We similarly maintain an ongoing real estate foreclosure practice and take pride in the utilization of procedures to minimize delays and costs in enforcing our clients' rights against real property. We are active in bankruptcy courts seeking relief from stays, enforcing liens against collateral and defending against proposed "cram-down" plans.

Landlord Representation

We have extensive experience in representing landlords involved in litigation with debtor tenants seeking to assume or reject leases, particularly shopping center leases, through the bankruptcy court.

Loan Restructuring

We represent lenders in resolving their loan workouts with restructuring geared to the needs of these transactions. We take particular pride in our ability to find creative solutions in situations where the parties have otherwise reached an impasse. We have experience with a wide variety of sophisticated techniques, including participation and revenue sharing arrangements, conditional deeds in lieu of foreclosure, entity restructurings with third party turnaround experts, assets swaps and security enhancement. Our counseling takes into account the consequences of potential bankruptcies and applicable lender concerns related to fraudulent conveyances, preferences, lender liability and foreclosure, among other issues.

Chapter 11 Representation

We are experienced in all aspects of the bankruptcy practice, and regularly represent secured and unsecured creditors, debtors and creditor committees in Chapter 11 proceedings.

Collection and Judgment Enforcement

Collections and judgment enforcement has been an important part of the firm's practice for many years. Employing a combination of legal expertise, online data services and, where appropriate, forensic accountants and private investigators, we have enjoyed a high degree of success in helping clients recover losses in a timely and cost-efficient manner. We are also adept at enforcing judgments obtained in New Jersey and domesticating and enforcing foreign judgments on both the state and federal level.

Creditors' Defense Representation

We maintain an active representation of creditors in responding to lender liability, preferential transfer and fraudulent conveyance actions.

Trustee Representation

Saiber represents financial institutions who act as fiduciaries in bankruptcy matters. For example, we counseled a New Jersey bank acting as trustee for a multimillion dollar bond issue secured by the sale and leasing of a fleet of over 60 aircraft.  In that bankruptcy case, we worked in conjunction with a proposed buyer/plan proponent to obtain confirmation of a reorganization plan over the objections of various parties, including the debtor and another proposed purchaser.