Bankruptcy & Creditors’ Rights
Mackenzie Hughes represented one of the world’s largest insurance companies in litigating claims by a U.S. Bankruptcy Trustee arising from the debtor’s fraud scheme that exceeded $1 billion, making it the most substantial and highly publicized bankruptcy litigation in the region’s history. The firm aggressively protected the insurer’s interests and successfully reached a court-authorized settlement after extensive and complex negotiations.
Armed with a great deal of experience in bankruptcy law, our team of professionals can advise businesses through the most extreme financial hardships. We’ve represented a broad spectrum of clients, including banks and credit unions, manufacturers, construction companies and developers, hotels, retailers, and professional services firms.
Our knowledge of the law will see debtors through workouts — negotiating repayment terms of loans with creditors, whether or not bankruptcy has been filed. And when dealing with reorganization, we make it part of our job to know and understand our clients and to make choices that will be the right ones now and for years to come. These decisions are made considering a multitude of issues ranging from bankruptcy, litigation planning, document review, and priority issues to liability considerations.
When bankruptcy occurs, debtors aren’t the only ones at a loss. We also apply our experience and expertise to creditors. Many times creditors believe they do not have any rights or alternatives with respect to debtors’ claims. We can advise them of their rights to share in any distribution from the bankruptcy estate, be heard by the court in matters concerning the debtor’s plan, challenge an individual debtor’s right to a discharge and assist them in litigation of such matters.
Services include:
- Commercial litigation
- Counseling of debtor corporations
- Special counsel for debtors in possession
- Representation of banks in litigation for foreclosures and recovery of defaulted loans
- Litigation in complex adversary proceedings, including objections to discharge
- Counseling workouts when negotiating final resolution with multiple creditors
- Defending creditors from claims for violations of the automatic stay, preferential transfers and fraudulent transfers
Meet the Team
Our experienced attorneys will work with you to create meaningful legal solutions designed to help you make better business, personal planning and legal decisions.
Meet the TeamAttorneys
Clayton H. Hale, Jr.
Partner and Co General Counsel
Neil J. Smith
Partner
Caroline M. Bertholf
Associate
News
At the time of this writing, the Senate has now passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the bill now awaits final approval by the House of Representatives and the President to be enacted into law. In addition to the well-publicized provisions providing direct financial relief to individuals and making…
Read moreFour Quick Tips For Small Businesses During the Corona Virus Epidemic
So you’ve followed all the CDC guidelines, obeyed the orders issued by Governor Cuomo, and heeded the advice of my colleague Chris Jones with the same fanatical devotion as a samurai obeying his master. (https://mackenziehughe.wpengine.com/blog/new-york-provides-for-additional-paid-sick-leave-and-other-benefits-for-employees-under-covid-19-quarantine-order/). But most companies in the US are heavily indebted, and almost all companies’ cash flow will be reduced to a…
Read moreNeil J. Smith has been elected president of the Central New York Bankruptcy Bar Association. Since joining Mackenzie Hughes in 2005, Smith has been a member of the business department focusing in bankruptcy law. His practice includes the representation of businesses in bankruptcy proceedings, debt reorganizations and workouts. He also represents defendants in preferential transfer…
Read moreBlog
At the time of this writing, the Senate has now passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the bill now awaits final approval by the House of Representatives and the President to be enacted into law. In addition to the well-publicized provisions providing direct financial relief to individuals and making…
Read moreFour Quick Tips For Small Businesses During the Corona Virus Epidemic
So you’ve followed all the CDC guidelines, obeyed the orders issued by Governor Cuomo, and heeded the advice of my colleague Chris Jones with the same fanatical devotion as a samurai obeying his master. (https://mackenziehughe.wpengine.com/blog/new-york-provides-for-additional-paid-sick-leave-and-other-benefits-for-employees-under-covid-19-quarantine-order/). But most companies in the US are heavily indebted, and almost all companies’ cash flow will be reduced to a…
Read moreIt’s a Trap! Four Strategies for Turning Around a Struggling Company (That Almost Never Work)
As a bankruptcy practitioner, I have seen a fair share of business failures. Unless a company’s management is particularly nearsighted (or the failure is sudden and due to external forces), towards the end management teams do usually recognize that there are problems and try to correct them.
Read more