Underwood’s Bankruptcy and Creditors’ Rights practice encompasses all aspects of debt enforcement, restructuring, insolvency, and bankruptcy proceedings.  Attorneys in this practice group also have experience with documentation of complex loan transactions (including syndicated loans), which brings a transactional and substantive perspective to debt enforcement. 

Bankruptcy and Insolvency:

Underwood lawyers appear in Chapter 7, Chapter 11, Chapter 12, and Chapter 13 bankruptcy proceedings in Texas, Delaware, and elsewhere, with services including:

• Asset sales and acquisitions under Section 362 of the Bankruptcy Code, including stalking horse representation.
• Secured creditor representation, including adequate protection, cash collateral, stay litigation, and contested plan confirmation.
• Defense of avoidance actions, including fraudulent transfer and preferential transfer litigation, including Ponzi scheme issues. 
• Representation of Debtor in Possession financing sources.
• Prosecution and defense of claims against officers and directors. 
• Contested matters unique to agricultural and agribusiness debtors (e.g., Food Security Act, Perishable Commodities Act, Packers & Stockyards Act).
• Lien validity and priority disputes.
• Discharge and dischargeability litigation. 
• Maximizing tax attributes of debtors (net operating losses, etc.).
• Representation of Administrative Agents and Collateral Agents enforcing syndicated credit agreements. 

Underwood lawyers also have experience in out of court workouts, restructuring, and development of forbearance agreements in an ongoing effort to avoid the transactional costs of formal bankruptcy proceedings. 

Creditors’ Rights:

Underwood has historically represented financial institutions and business in debt enforcement outside of bankruptcy court.   This includes:

• Seeking extraordinary remedies such as sequestration, attachment, or injunctive relief on short notice.
• Debt enforcement litigation in state and federal court, including open account suits and judicial foreclosure.
• Foreclosure of real property liens under powers of sale and judicially.
• Receiverships, both pre-and post-judgment. 
• Prosecution of fraudulent transfer claims.  
• Post-judgment discovery and enforcement.