Philip R. Rudd
Philip Rudd’s clients appreciate his people-focused approach to practicing law and his skill in achieving resolution of their complex financial disputes.
A Best Lawyers in America® honoree, Phil has represented borrowers and creditors in resolving their financial and operational challenges through workouts and negotiated restructurings, contested and uncontested bankruptcies, receiverships, asset and stock sales and liquidations, and litigation. He has also represented third-party custodians, such as receivers and bankruptcy trustees, in their duties to oversee the operation and liquidation of assets.
Creditors Rights in Bankruptcy
Through the use of the Chapter 11 reorganization
process, negotiated a significant discounted cash payoff of a $31 million senior
living facility debt through the sale of assets, which also resulted in a full
release of all guarantees.
Confirmed a contested Chapter 11 cram-down plan of
reorganization for an office building, which significantly reduced the secured
creditor's $21 million claim and allowed the debtor's interest holders to retain
their interests in the reorganized debtor.
Through the Chapter 11 reorganization process for a
storage facility, negotiated a significant discounted cash payoff of a $7.5
million secured claim, which allowed the interest holders to retain their
interests in the debtor.
Following heavily contested valuation and plan
confirmation proceedings, negotiated a consensual plan of reorganization with
the secured lender regarding its $21 million claim in a retail and office center
in Las Vegas, which allowed the interest holders to retain their interests in
the reorganized debtor and provided for a release of guarantees.
Honors and Awards
The Best Lawyers in America®: Bankruptcy and
Creditor Debtor Rights, 2019-present
“Top People to Know in Commercial Real Estate,” AZRE
State Bar of Arizona: Bankruptcy Section
Maricopa County Bar Association: Bankruptcy Section
(Chairman, 2000-2001; Secretary/Treasurer, 1999-2000; Executive Board Member,
Turnaround Management Association: Board of Directors,
U.S. District Court, District of Arizona, 1991
U.S. Court of Appeals, Ninth Circuit, 1997
Articles and Presentations
Changes to the Bankruptcy Code May Offer Relief for
Small Businesses as the Financial Impact of COVID-19 Grows (co-author), Sacks
Tierney Client Newsletter, April 2020
“Judgment Enforcement in Arizona,” Lorman Education
“Basic Bankruptcy Concepts for Non-Bankruptcy Lawyers,”
Barrister, Summer 1996
Arizona v. Jones, 245 Ariz. 46 (App. 2018) (amici curiae)
J.D., cum laude, James E. Rogers College of Law,
University of Arizona, 1991: Dean’s List; University of Arizona Law Review;
Honorable Mention, Best Moot Court Brief
B.A., University of Arizona, 1988