Stahl Cowen Crowley LLC represents clients throughout the United States in complex adversarial bankruptcy cases and restructuring transactions. In addition to our broad-based bankruptcy practice, we focus on the representation of retirees and retiree committees in major corporate bankruptcy cases. We are committed to achieving the best results even in the most difficult of circumstances. Our bankruptcy attorneys take the time to listen to our clients and understand the particular nuances of their backgrounds, needs or businesses environment, whether it be in the steel industry, the automotive arena, airline restructurings or any other area. Because we understand the urgency and importance of our clients' needs, we make ourselves accessible and ready to react on a moment's notice.
As healthcare costs have increased, companies have increasingly turned to bankruptcy courts to reduce or eliminate retiree benefits. Generally, companies target healthcare insurance, retiree life insurance, Medicare contributions and pension benefits. Any reduction in retiree benefits can operate as a hardship to retirees. Our clients can attest to our ability to aggressively utilize the protections afforded by Section 1114 of the Bankruptcy Code to fight for the retirees, spouses and dependents that we represent. We bring an abundance of information and resources relating to healthcare coverage options, trust options to reduce tax burdens and other issues often foreign to those attorneys not familiar with this area of law. We have forged close relationships with nationally recognized financial advisors and other experts that further allow us to hit the ground running. The bankruptcy retiree committees (or 1114 committees as they are sometimes called) we have represented have indicated that our background and our ability spring into action was invaluable given that they were appointed well after the bankruptcy process had begun.
Representative cases include a recent bankruptcy involving a conglomerate of steel companies where we were able to obtain guaranteed lifetime distributions, a lump sum cash distribution and other benefits exceeding $30 million in value for the retirees we represented. The bankrupt companies' original plan was to terminate all such benefits. In another case involving a multi-national automobile parts manufacturer, we were successful in protecting retiree benefits that were slated to be eliminated when one subsidiary was closed and liquidated. Using very aggressive legal arguments, we were able to obtain lifetime monthly benefits for the retirees, a lump sum payout and other benefits. For more information, please contact practice group leaders Jon Cohen or Trent Cornell and please view the attached primer on Retiree Committee Representation.
We have represented clients nationwide in adversarial bankruptcy actions dealing with large preference claims, fraudulent conveyance claims and dischargeability issues.
We have represented clients in both selling and buying assets from distressed companies, including through Section 363 asset sales and are familiar with the corporate, regulatory and other considerations of such transfers.
Our attorneys have guided many clients through both assignments of assets and have also represented clients that purchase assets in an "ABC."
We have represented clients in bankruptcy actions and in appeals seeking to enforce judgments based on securities fraud against Controlling Persons, as that term is defined in Securities Exchange Act of 1934.
We have provided advice to clients who are considering assignments for the benefit of creditors or bankruptcy, and further represented clients in actions where adverse parties have sought to have debt positions treated as capital investments.