Municipal Debt Restructuring and Bankruptcy

Overview

What sets Meyers Nave apart is our deep bench experience in the many disciplines of public law. We know firsthand what public agencies face when confronting financial hardships, including the political and economic factors. We provide an efficiency, in both cost and services, so our clients can see the light at the end of the tunnel. Drawing from various practice groups, our team brings to the table a wide range of expertise in tax structures, the Brown Act, pension reform, bonds, environmental liabilities, and crisis management.

We offer clients services to facilitate the restructuring of municipal debt through workouts, pension reform and other opportunities. We also represent local governments as well as private clients in court both as creditors and debtors in bankruptcy proceedings.

Our restructuring and insolvency attorneys have experience in dealing with the rights of secured creditors and lienholders, the treatment of executory contracts and unexpired leases, the purchase and sale of assets, mergers and acquisitions, claim resolution and litigation, and the prosecution and defense of avoidance actions.

Subpractices

  • Bankruptcy

    We approach each potential bankruptcy as a unique situation, analyzing the pros and cons of every option to devise a strategy that may involve filing for bankruptcy protection via Chapters 7, 9 or 11. As legal counsel, we are skilled in preparing the necessary pleadings and representing our clients in the courtroom and at the bargaining table.

  • Creditor's Rights

    In addition to budget shortfalls, many of our public agency clients are increasingly finding themselves in the creditor’s position in insolvency proceedings when developers or vendors go bankrupt. Our attorneys have the knowledge to advise clients on potential pitfalls and how to maximize the possibility for a meaningful recovery.

  • Crisis Management

    Since public agencies undergoing financial duress are subject to intense scrutiny, we work hard to help our clients regain public confidence. By teaming with our Crisis Management Practice Group, we respond quickly to implement clear, straightforward public policies. Many of our clients have sought our services in this area, notably the City of Bell in the aftermath of a scandal in which top employees were receiving grossly inflated salaries and the City of San Bruno after a devastating and tragic pipeline explosion last year.

  • Government Debt Restructuring

    When public agencies and private clients come to us to restructure current obligations and to develop alternatives for financing future operations and capital projects, we understand that they hope to avoid a bankruptcy, and we may have only a narrow window to get their finances back on track.

    Our approach is guided by the history, needs and culture of our public and private entities. Alternatives we may consider with our client include the following.

  • Pension Reform

    Many pension plans today are no longer sustainable and are draining public agency funds. We help our cash-strapped clients reform their pension programs to stabilize their finances.

  • Recovery Plans

    Our team helps clients formulate a sound plan so distressed financial situations no longer seem daunting and overwhelming. We identify appropriate remedies that are unique to each clients’ situation, putting clients on the road to recovery in the most responsible and expedient manner possible. We evaluate market trends and risks as well potential streams of revenue that will bolster their financial health.