Overview Choate’s Restructuring and Bankruptcy professionals work with lenders, note holders, equity sponsors, insurance companies, Boards of Directors and corporate clients in high profile, complex restructurings and bankruptcies throughout the United States and abroad. Our engagements cover a broad range of industries, financial instruments and jurisdictions grounded in a common approach: highly experienced and collaborative professionals from throughout the Firm work around-the-clock to protect our clients’ interests in every aspect of business insolvencies and debt restructurings. Choate has one of the largest and most active DIP financing practices in the United States. We regularly represent Administrative Agents and other lead lenders providing bankruptcy financing to companies in large Chapter 11 cases throughout the country, often as part of multi-tranche DIPs that require the negotiation of innovative intercreditor arrangements. Major insurance companies and other stakeholders routinely turn to Choate for representation in some of the largest and most complex mass tort bankruptcies in the country. Our insurance company clients are often viewed by creditors as a primary source of potential recovery in those high-stakes cases and require intensive representation to help manage their risks and exposure. Choate works to ensure that their interests and coverage positions are preserved through the bankruptcy process, often collaborating with Choate’s award-winning insurance coverage team. We have successfully guided insurers through landmark mass tort cases in Courts located throughout the country, playing leading roles in such significant bankruptcy cases as Boy Scouts of America, Pacific Gas & Electric Company, Mallinckrodt, and over a dozen catholic diocesan sex abuse cases. Choate also represents insurers in national Chapter 11 cases involving complex security structures to secure tail obligations. Our insolvency experts help multiple other stakeholders navigate the challenges presented by distressed businesses. We routinely represent both borrowers and lenders in out-of-court workouts. We also frequently represent Boards of Directors and independent directors of financially troubled companies, often following the exercise of an equity pledge by secured lenders. Our reputation for working constructively with lenders, companies/borrowers, equity holders and other lead constituents allows us to guide Boards through the most difficult stages of financial restructurings. We also have deep experience representing buyers and sellers of distressed businesses and assets, either through a §363 sale process in bankruptcy or via an out-of-court transaction. We also represent estate fiduciaries including Chapter 11 trustees and wind-down directors outside of a formal bankruptcy process. Choate lawyers also have served as mediators in complex and contentious insolvency related matters. Insolvencies can result in crisis situations and our team often has to move quickly and aggressively to protect our clients’ interests in bankruptcy and other federal and state courts. Choate’s restructuring experts and litigators work seamlessly through real-time analyses of complicated capital structures, liability management exercises and other financial transactions to formulate the best way to maximize our clients’ recoveries. Our litigation team has proven success in obtaining injunctive relief and favorable results in hotly disputed adversary proceedings, contested matters, and cash collateral disputes.