The Bankruptcy and Financial Restructuring lawyers at Polsinelli understand how to address a client’s concerns when facing a distressed situation by applying years of restructuring experience in a cost-efficient manner. Polsinelli’s group of professionals utilizes a practical, hands-on approach to handle bankruptcy and financial restructuring issues whether on behalf of a Chapter 11 debtor, an official committee of unsecured creditors, or a party to bankruptcy litigation. Our lawyers have practiced in numerous different jurisdictions across the country, and we have lawyers available to assist clients across the country with lawyers located in such jurisdictions as Delaware, New York, Kansas City, St. Louis, Chicago, Arizona, Dallas, Denver, Los Angeles, and San Francisco. We have extensive experience with distress companies in numerous different industries.  This experience includes serving as Delaware bankruptcy counsel and conflicts counsel to Creditors’ Committee of Energy Futures Holdings Corp., et al., the seventh largest chapter 11 bankruptcy case ever filed.

Our specialized experience includes:

  • Telecommunications
  • Retail
  • Health Care
  • Insurance
  • Real Estate
  • Trucking and Transportation
  • Hospitality
  • Manufacturing
  • Energy

We have represented various types of clients in all aspects of bankruptcy, insolvency, out of court workouts, and litigation matters, including:

  • Debtors and debtors in possession
  • Official and Ad Hoc Creditors’ Committees
  • Chapter 7 and 11 Trustees
  • Litigation and Liquidating Trustees
  • Secured and DIP lenders
  • Indenture Trustees, Noteholders, and Bondholders
  • Asset Purchasers
  • Landlords and Trade Creditors
  • Examiners
  • Plaintiffs and Defendants in Adversary Proceedings
  • Delaware bankruptcy counsel and conflicts counsel to Creditors’ Committee in chapter 11 bankruptcy case of Golfsmith International Holdings, Inc.
  • Delaware bankruptcy counsel and conflicts counsel to Creditors' Committee of Energy Futures Holdings Corp., et al., the seventh largest Chapter 11 bankruptcy case ever filed.
  • Delaware bankruptcy counsel and conflicts counsel to Creditors’ Committee in chapter 11 bankruptcy case Vestis Retail Group, LLC (owner of EMS (Eastern Mountain Sports), Bob’s Stores, and Sport Chalet retail chains).
  • Special Counsel to Chapter 7 Trustee of New Source Energy Partners, L.P.
  • Lead counsel to Creditors’ Committee in chapter 11 bankruptcy case of Osage Exploration and Development, Inc.
  • Co-counsel to Creditors’ Committee in Santa Fe Gold in its Chapter 11 bankruptcy case.
  • Co-counsel to Wire Holdings Company/New York Wire in its Chapter 11 bankruptcy case.
  • Delaware bankruptcy counsel and conflicts counsel to Affirmative Insurance Holdings Company in its Chapter 11 bankruptcy case.
  • Lead counsel to Wilmington Trust, as indenture trustee, in Chapter 11 bankruptcy case of Overseas Shipholding Group.
  • Delaware bankruptcy counsel and conflicts counsel to the Creditors' Committee in The Standard Register Company Chapter 11 bankruptcy case. 
  • Lead counsel to Chapter 11 debtor, Airborne Media Group, a digital media provider.
  • Lead counsel to Chapter 11 debtors Marinas International Consolidated, LP.
  • Co-Counsel to Official Committee of Student Creditors of Corinthian College, a for profit educational institution, in its Chapter 11 bankruptcy case.
  • Special litigation counsel to Indianapolis Downs, LLC in their Chapter 11 cases.
  • Delaware bankruptcy counsel and conflicts counsel to Creditors' Committee of publicly-traded Allied Nevada Gold Corp.
  • Delaware bankruptcy counsel to Creditors' Committee in Chapter 11, and lead counsel to Chapter 7 Trustee, in bankruptcy case of Simplexity, LLC.
  • Delaware bankruptcy counsel to Wilmington Trust, as indenture trustee, in Chapter 11 bankruptcy case of Radio Shack. 
  • Delaware bankruptcy counsel and conflicts counsel to commercial airline Chapter 11 debtors Global Aviation Holdings Inc.
  • Lead plaintiffs counsel of a class action consisting of more than 44,000 members in Residential Capital, LLC’s Chapter 11 bankruptcy proceeding, including representation of lead plaintiff on the official committee of unsecured creditors of Rescap.
  • Lead counsel to Creditors' Committee in Chapter 11 and special litigation counsel to Chapter 7 trustee and rural wireless provider Open Range Communications, Inc.
  • Lead counsel to Creditors' Committee of Revel Casino.
  • Lead counsel to Chapter 11 debtors and online clothing retailer Signature Styles, LLC.
  • Lead counsel to Creditors' Committee and Plan Administrator of rural telecommunications provider Crossroads Wireless in its Chapter 11 bankruptcy case.
  • Lead counsel to Creditors' Committee and Plan Administrator for destination vacation club Ultimate Escapes in its Chapter 11 case.
  • Conflicts counsel and Delaware bankruptcy counsel to Chapter 11 debtors and national bus line Coach America.
  • Lead counsel to Chapter 11 debtor Blue Springs Ford.
  • Counsel to Creditors' Committee and Plan Administrator for food producer Interstate Bakers in its initial Chapter 11 case.
  • Conflicts counsel and Delaware bankruptcy counsel to prefabricated home manufacturer Palm Harbor Homes in its Chapter 11 case.
  • Special litigation counsel to Chapter 7 trustee Doveview, LLC in its Chapter 7 case.
  • Delaware bankruptcy counsel to petitioning creditors in involuntary Chapter 11 case; Creditors' Committee in Chapter 11 case; Liquidating Trustee post-confirmation for automobile company Saab Cars of North America.
  • Counsel to German Insolvency Administrator in filing Chapter 15 bankruptcy in St. Louis, Missouri, seeking recognition of the German insolvency proceeding, to safeguard the assets and allow the German Insolvency Administrator to sell the German business as a going concern.
eAlerts Alerts
March 16, 2015
eAlerts Alerts
Chris Ward, Co-Chair of Polsinelli's Bankruptcy and Financial Restructuring Practice and Managing Shareholder of Polsinelli's Delaware office, recently participated in a roundtable discussion with Financier Worldwide. The discussion highlighted recent trends in bankruptcy litigation, creditors' strategies for exerting more influence on the bankruptcy process, and creative and consensual solutions to full-scale litigation, as well as the benefits of alternative dispute resolution methods.
July 15, 2013
eAlerts Alerts
On April 1, 2013, increases to certain dollar amounts provided for in the United States Bankruptcy Code will go into effect for all cases filed on or after April 1, 2013. The most relevant increases are with respect to the amount of priority claims allowed under the Bankruptcy Code.
April 3, 2013
eAlerts Alerts
In 2012, two decisions were published regarding Missouri foreclosure law and how obligors' deficiencies should be measured following foreclosures. The decisions were somewhat surprising given that Missouri law has been long-settled regarding how to measure deficiencies following foreclosures, and given that the long-settled law seemed well-justified by Missouri's statutory scheme governing foreclosure sales.
March 14, 2013
eAlerts Alerts
The Bankruptcy Court for the District of Delaware recently issued an opinion confirming a chapter 11 plan (i) based on a lock-up agreement between the debtor and its major creditors and (ii) containing third party releases that bound creditors unless they affirmatively "opted out" in a ballot actually returned to the balloting agent. In In re Indianapolis Downs, LLC, Judge Shannon confirmed the debtors' joint plan over the objection of the United States Trustee and several other creditors, holding to a theme espoused numerous times throughout the case: "that the filing of a Chapter 11 petition is an invitation to negotiate." In re Indianapolis Downs, LLC, No. No. 11-11046, 2013 WL 395137, at *7 (Bankr. D. Del. Jan. 31, 2013).
March 4, 2013
Publication and Presentations Icon Publications & Presentations
Article co-authored by Paul D. Sinclair and Monika Machen.
February 2012
Publication and Presentations Icon Publications & Presentations
In our August 2011 Bankruptcy Report, we reported on the Seventh Circuit's decision in the Matter of River Road Hotel Partners, LLC, et al., 651 F.3d 642, 2011 WL 2547615 (7th Cir. June 28, 2011), which rejected earlier rulings by the Third and Fifth Circuits that a secured creditor did not have a right to credit bid at a sale of assets free and clear of liens under a plan of reorganization.
December 19, 2011
eAlerts Alerts

Chris Ward, Vice Chair of Polsinelli's Bankruptcy and Financial Restructuring Group and Managing Shareholder of Polsinelli's Delaware office recently participated in a roundtable discussion regarding U.S. bankruptcy law with industry leaders including Kirkland & Ellis, Conway McKenzie and Skadden Arps. The roundtable focused on:

  • Summary of recent trends in Chapter 11 bankruptcy
  • Pros and cons of a corporate bankruptcy filing
  • Emergence of Section 363 asset sales and prepackaged bankruptcies as the preferred course of action in bankruptcy
November 2011
eAlerts Alerts
Contested Chapter 11 proceedings often boil down to a two-party dispute between the debtor (and its owners) and the debtor's senior secured creditor, especially in single asset real estate and similar cases. In recent years, the playing field has not been a level one, with secured creditors having the upper hand in defeating any plan of reorganization the debtor (and its owners) might propose.
August 1, 2011
eAlerts Alerts
August 1, 2011
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