Thirty-Lawyer Group Supporting Clients Throughout the Country
Companies across the nation and the world are now dealing with the coronavirus’ (COVID-19) effect on their businesses. Nearly every business enterprise has already seen or will soon experience an interruption to routine operations causing unexpected stress on liquidity and business relations. Among Nelson Mullins’ 800 attorneys supporting over 100 practice areas, is its Financial Restructuring and Insolvency team composed of over 30 attorneys in offices practicing across the country, advising clients on a host of financial and economic issues resulting from the coronavirus.
The coronavirus presents major challenges for companies across the economy. Even strong and well-capitalized businesses are mindful of their relationships with companies that are susceptible to economic challenges. Nelson Mullins’ Financial Restructuring and Insolvency lawyers are helping clients navigate this uncertain environment. Among the most pressing concerns are the following:
- Operational Disruption: Limitations on inbound trade and delays in production and fulfillment are disrupting the global supply chain, reducing availability of materials for businesses and of goods for consumers. Consequently, cash flow of manufacturers and suppliers is being affected.
- Nelson Mullins can help lenders and creditors working alongside businesses facing these issues and can recommend pro-active steps to reduce credit exposure. Conversely, our team can also assist manufacturers, distributors, and retailers navigate supply chain, insolvency, and business-contingency related issues. Clients must have a clear understanding of their legal rights in a variety of potential scenarios.
- Financing: Amidst (hopefully) short term revenue and liquidity stress, companies may require additional vendor credit, bank-financing, and access to capital markets to provide sufficient working capital for business operations.
- Nelson Mullins can assist lenders with the demands associated with existing credit facilities as well as new credit opportunities that may present themselves. Conversely, we can also navigate this process on the borrower side so that your business operations can weather the storm.
- Existing Commercial Relationships: Companies may soon be unable to meet contractual commitments due to the impact of the coronavirus.
- Nelson Mullins is counseling lenders and companies on both sides of business relationships as to how best to confront these issues—including evaluating the rights and remedies under force majeure provisions.
- Workouts: Financial distress may require borrowers and lenders to negotiate loan workouts.
- Nelson Mullins’ bankruptcy and restructuring attorneys have decades of experience with in-court and out-of-court workouts on behalf of lenders and borrowers. We are also assisting landlords and tenants who are facing payment issues.
- Creditor and Borrowers’ Rights: Stressful economic times always results in an increase in all sorts of litigation.
- Nelson Mullins’ litigation attorneys practice in courts all around the country asserting and defending creditors and borrowers’ rights. Now is the time for clients to prepare in the event problematic situations turn into difficult disputes.
- Restructuring: Businesses have available a host of legal remedies to help them withstand the crisis and restructure their debt to ensure the entity continues as a going concern.
- It is inevitable that financially distressed companies will avail themselves of the bankruptcy and insolvency laws. Nelson Mullins’s bankruptcy, creditors' rights, and financial restructuring attorneys combine financial skills, pragmatic business insight, assertiveness, and decades of diversified experience to help clients obtain results.
- Director and Officer (D&O) Liability: Health related concerns and financial distress require directors and officers to implement appropriate procedures and properly navigate the decision making process.
- Nelson Mullins can provide guidance to directors and officers on their fiduciary obligations that may arise during this critical time to limit potential risk exposure.
We are first concerned with the safety of our families, colleagues, clients, and friends. But we want to let you know that the best reaction to effects on our economy from the coronavirus is a pro-active reaction. And the Financial Restructuring and Insolvency team at Nelson Mullins is here to provide whatever assistance you may need to help get you through these emergent and trying circumstances. Notwithstanding the present situation, we are and will remain available to you.
For more information, please reach out to your point of contact at Nelson Mullins or our bankruptcy group leaders Jason Gold, Gary Freedman, and Shane Ramsey.