Secured Lender Representation

The attorneys in the Troutman Sanders’ Financial Restructuring and Insolvency Practice regularly represent banks, non-depository financial institutions, indenture trustees, bondholders, servicers and special servicers as secured creditors in significant bankruptcy matters and out-of-court restructurings on a nationwide basis. Troutman Sanders' representation of secured creditors runs the gamut, from pre-bankruptcy default enforcement and election of remedies, to prosecuting appropriate value-maximizing strategies through the bankruptcy process, to post-bankruptcy enforcement of rights and remedies. In bankruptcy cases, Troutman Sanders attorneys regularly represent lenders in negotiating debtor-in-possession (DIP) financing facilities, cash collateral and adequate protection litigation, prosecuting stay relief motions and objections to confirmation, and negotiation of consensual reorganization plans where appropriate.

Some of the firm’s representative secured lender engagements include the following:

  • Representing lead banks in syndicated secured credit facilities in Chapter 11 cases in Pennsylvania and Delaware
  • Representing indenture trustee for first priority senior secured notes and collateral agent first priority lien debt in independent television company Chapter 11 case
  • Representing debtor-in-possession lender in telecommunications company Chapter 11 case in New York
  • Representing CMBS and RMBS servicers and special servicers in connection with secured claims in Chapter 11 cases across the country
  • Representing the indenture trustee for the first mortgage bonds in hotel and casino Chapter 11 case
  • Representing adhoc committee of first mortgage bondholders in large department store chapter 11 case
  • Representing numerous institutional lenders and national banks in bankruptcies, workouts, receiverships and other enforcement actions regarding a variety of businesses, such as home builders, technology companies, service providers, retailers and suppliers

DIP Financing Engagements:

  • Represented the DIP lender in a $30 million financing of Chapter 11 discount retail chain
  • Represented the DIP lender in a $42.5 million department store chain Chapter 11 financing
  • Represented the exit financing lenders in a $250 million refinancing of a men’s discount retail chain in its emergence from a Chapter 11 case
  • Represented a major national lender in connection with DIP financing in a $200 million retail credit facility and a $100 million textile manufacturing facility in Delaware