Sacks Tierney’s Corporate Restructuring and Bankruptcy Group is nationally known and respected for its creative, efficient, and effective representation of companies, lenders, shareholders, high net worth individuals, and other parties in complex bankruptcy proceedings and out-of-court debt restructurings.
Sacks Tierney is a “Best Law Firms” Regional Tier 1 selectee for Bankruptcy and Bankruptcy Litigation and is a Top 10 bankruptcy firm in Ranking Arizona. Our industry experience encompasses every major economic sector, including real estate development and management, construction, hospitality, healthcare, manufacturing, agriculture, and aviation.
Commercial Debtor Representation
Sacks Tierney specializes in assisting financially distressed businesses in all aspects of financial restructuring, including distressed financing, workout negotiations, asset protection, Chapter 11 reorganization, and bankruptcy litigation.
Sacks Tierney also has extensive experience representing banks and other secured creditors, landlords and other lessors, contractors and vendors, equity holders, debtor-in-possession lenders, and parties interested in acquiring the stock or assets of a financially troubled company.
Distressed Mergers and Acquisitions
Sacks Tierney has assisted a wide of array of parties through the complex process of selling or acquiring companies or assets in the context of a bankruptcy proceeding or an otherwise distressed business.
Bankruptcy Related Litigation
Sacks Tierney represents parties in all aspects of bankruptcy-related litigation, including plan confirmation and cash collateral litigation, claims litigation, lien avoidance or enforcement, objections to discharge or dischargeability, preference and fraudulent transfer litigation, and all other litigation that may arise in connection with bankruptcy proceedings or a financially distressed company.
Bankruptcy Related Appeals
Sacks Tierney has considerable experience and expertise in prosecuting and defending bankruptcy-related appeals to the United States District Court for the District of Arizona, the Ninth Circuit Bankruptcy Appellate Panel and the Ninth Circuit Court of Appeals.
Trustee and Fiduciary Representation
Sacks Tierney’s Corporate Restructuring and Bankruptcy Group represents third-party custodians and court-appointed fiduciaries, such as receivers, examiners, plan agents, and bankruptcy trustees, in carrying out their duties.
- Confirmed plan of reorganization for a luxury home and golf course development in Flagstaff, Arizona
- Confirmed plan of reorganization for Class A office building in an upscale area of Scottsdale, Arizona
- 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
- Served as counsel for the debtors in a Chapter 11 case in which plans of reorganization were confirmed for a public corporation and fifteen of its affiliates
- Assisted a national restaurant operator with the out-of-court restructuring of $70 million in indebtedness
- Served as counsel for the primary secured creditor in the Chapter 11 proceedings of five affiliated hotels located in three states
- Negotiated and documented a transaction in which a private equity firm acquired equity positions, in multiple tranches, and subsequently real estate, relating to a luxury residential and golf development in northern Arizona
- Confirmed several Subchapter V small business Chapter 11 plans for movie theaters, gyms, and manufacturing companies during the height of COVID.
- Negotiated and confirmed consensual Chapter 11 plans of reorganization for individuals with substantial PACA liabilities.
- Obtained approval of a Section 363 sale of a hotel and subsequent confirmation of Chapter 11 Plan that resulted in a large recovery to debtor’s equity holders.
Articles & Presentations
- Why the Chapter 7 Eligibility Guidelines Are Counterproductive
- What Buyer’s Counsel Needs To Know About Bankruptcy Sales
- Prepackaged Bankruptcies Lorman Webinar
- Preference Law
- Consumer Case Avoidance Issues
- Interplay Between Asset Protection, Estate Planning, and Bankruptcy
- Negotiating the Pandemic: 2020 and Beyond
- The Looming Bankruptcy Pandemic and the Impact of the New Small Business Reorganization Act’s Changes to the Bankruptcy Code
- Changes to the Bankruptcy Code May Offer Relief for Small Businesses as the Financial Impact of COVID-19 Grows
- The Intersection of Bankruptcy Preferences and Mechanic’s Lien Waivers — A Wrong Turn Can Be Costly