Bankruptcy & Restructuring

Bankruptcy issues can arise unexpectedly and for a variety of reasons. In order to act quickly and achieve successful outcomes, you need a strategic partner who understands your needs and is committed to your goals.

Brownstein’s Bankruptcy & Restructuring Group combines high-level experience, credibility and a creative approach to obtain desired results. With an emphasis on the middle market, we solve problems by providing strategic and innovative solutions to a wide variety of businesses across numerous industries, including energy, transportation, manufacturing, technology, real estate, construction, hospitality, retail, health care and financial institutions, among others.

We have a proven track record of handling significant regional and national cases, a realistic perspective and an in-depth understanding of the needs and perspectives of various stakeholders that allows us to negotiate successfully on your behalf. Our Bankruptcy & Restructuring Group takes an integrated, team approach to developing sophisticated strategies for our clients, often tapping the resources of other groups within the Corporate & Business Department. Our team is well versed in transactions, both inside and outside of formal court proceedings.

Our clients include debtors, creditors, creditors committees, acquiring parties, sellers, joint venture partners and other parties-in-interest in restructuring situations, including those dealing with Chapter 11 and Chapter 7 proceedings. Outside bankruptcy, the group represents creditors and debtors in restructuring transactions involving public companies, private companies and entities of various sizes. 

Representative Matters
  • Represented Mi Pueblo, a portfolio company of Victory Park Capital, in its sale to an affiliate of Kohlberg Kravis Roberts & Co. L.P. Mi Pueblo is Northern California’s leading Hispanic grocery retailer.

  • Counsel to Gilbert Hospital, LLC, a general acute-care hospital based in Gilbert, Arizona in connection with its merger with Florence Hospital at Anthem, LLC pursuant to a confirmed Chapter 11 plan of reorganization. Representation included all aspects of a this sophisticated merger transaction, including transition of the two hospitals under joint ownership and operation, coordinating employment and equity compensation documents for employees, and identifying and resolving health care regulatory aspects of the foregoing, and strategic advice.

  • Counsel to Gilbert Hospital, a general acute-care hospital based in Gilbert, Arizona in its merger with Florence Hospital at Anthem pursuant to a confirmed Chapter 11 plan of reorganization. We advised on all aspects of a sophisticated merger transaction, including transition of the two hospitals under joint ownership and operation, coordinating employment and equity compensation documents for employees, and identifying and resolving health care regulatory aspects of the foregoing.

  • Represented Fresh Produce Holdings, LLC in its Chapter 11 case, having completed a sale of the Company's assets to a purchaser preserving the going concern after a robust auction.

  • Counsel to Regional Care Services Corporation, the parent company of Casa Grande Regional Medical Center based in Casa Grande, Arizona, in negotiating the sale of the hospital assets to Banner Health pursuant to an Asset Purchase Agreement and related transactions. Representation encompassed all aspects of this sophisticated sale transaction, including the sale process and APA, coordinating interim financing arrangements and reorganization under Chapter 11, and identifying and resolving all health care regulatory aspects of the foregoing.

  • Counsel to NRC Group LLC, a San Antonio, Texas based natural resources investment firm, and McCombs Family Partners Ltd., the investment management division of the family office of Billy Joe "Red" McCombs, in a recapitalization of Dave's Flow Measurement, a natural gas flow measurement and meter tube fabrication company.

  • Counsel to PAS Technologies Inc. in a squeeze-out merger of PAS Tech Holdings, Inc. and recapitalization by KRG Capital Partners, AlpInvest and Pennant Park, with simultaneous restructure of syndicated senior credit facility, conversion of subordinated debt to equity and equity capital infusion.

  • Counsel to Bunker Mode, Inc., a San Francisco-based mobile application company, in a master restructuring and equity financing.

  • Counsel to Big Sandy Holding Co., Inc., a bank holding company, as seller and debtor in its Chapter 11 case in a Section 363 sale of its stock in Mile High Banks and concurrent recapitalization by Strategic Growth Bancorp, Inc. for a total of approximately $100 million. During the 363 process, Big Sandy received a competing bid from a third party, so the transaction involved the first-ever competitive auction of a bank in a Section 363 sale.

  • Counsel to a regional bank in the foreclosure of deed of trust and appointment of receiver to preserve the property and sale of commercial buildings in Frisco, Colorado.

  • Counsel to the purchaser in the $90 million purchase of a portfolio of four apartment complexes in the Denver - Colorado Springs metro areas. Brownstein was Colorado counsel on the acquisition agreement, title and survey review and curative work, water rights due diligence and opinion letters for financing by FHLMC (Freddie Mac).

  • Represented Counsel toVerecloud, Inc., a communications service provider, in its tri-party recapitalization .

  • Counsel to a major national bank in a workout of a $10 million loan secured by Western Slope hospitals.

  • Assisted Global Employment Holdings, Inc., in drafting and adopting an equity incentive plan and associated designation of a new class of preferred stock.

  • Counsel to a junior mortgage lender in the $15.5 million acquisition of a senior lender's distressed debt for Lumiere Telluride Hotel, followed by the completion of a deed-in-lieu transaction.

  • Counsel to the official unsecured creditors committee of a natural gas producer reorganizing in Chapter 11.

  • Counsel to Western Athletic Clubs in the reorganization of its corporate structure through internal corporate mergers.

  • Counsel to Mercury Companies, Inc., a holding company for title companies in numerous states, in a Chapter 11 adversary proceeding case, obtaining a judgment of over $6 million.

  • Represented Global Employment Holdings, Inc. in a $120 million recapitalization and public shell merger.

Meet The Team

Steven E. Abelman Shareholder T 303.223.1102 sabelman@bhfs.com
Joshua M. Hantman Shareholder T 303.223.1216 jhantman@bhfs.com
Michael J. Pankow Shareholder T 303.223.1106 mpankow@bhfs.com
Amalia Sax-Bolder Associate T 303.223.1227 asax-bolder@bhfs.com