Debt Restructuring

Mr. Fellinger has advised and represented a number of companies that have encountered cash flow difficulties that have triggered the default provisions in the financial covenants of various complex loan documents containing cross-default provisions. Such loans are often cross-collateralized as well, so that a default under the terms of one loan will cause a default under one or more additional loans. This aspect of the practice generally involves restructuring a lender’s operations and existing cost efficiencies and negotiating debt workouts with lenders’ attorneys and accountants. This may also involve defending concurrent litigation actions, which a lender may simultaneously pursue. In some cases, Mr. Fellinger has brought in outside bankruptcy counsel to work with him.