“Simply put – we turn defaults into recoveries.”
Experience That Maximizes Recovery To Creditors
A debtor’s default or bankruptcy filing can have a significant effect on the profitability of a creditor. Sometimes a creditor’s recovery depends on swift and aggressive legal action. Other times, recovery may be greater through patient negotiated resolutions. At McGrath North, we have the experience and understanding to discern the best strategy to employ in a given situation, in order to maximize recoveries for our creditor clients. We offer our clients a wide variety of alternatives for collection and protection of rights throughout the United States, including loan workouts, non-judicial and judicial foreclosures of liens, UCC sales, lawsuits, commercial and residential evictions, landlord-tenant disputes, and bankruptcy representation, including obtaining relief from the automatic stay, litigating claims, litigating plan confirmation, defending preference and other avoidance actions, and initiating involuntary bankruptcies.
We know that default situations can be as distressing for creditors as they may be for debtors. We will help you develop and implement an effective plan to maximize your recovery.
Matters Reflecting Experience Include:
- Large agricultural lender with over $30MM of outstanding loans in an organized liquidation of a large farming operation. Successfully obtained title to over 6,000 acres of collateral real estate and cash payments to satisfy the debt.
- The Federal Deposit Insurance Corporation, in protecting its rights to a $25M-plus tax refund sought to be recovered by the Chapter 7 Trustee of TierOne Corporation.
- The Federal Deposit Insurance Corporation as receiver for a bank in protecting its collateral interests through a foreclosure process, a chapter 12 family-farmer bankruptcy, and federal district-court litigation, ultimately obtaining a settlement with the debtors that yielded $2.4 Million more than had been offered prior to our engagement.
- Nebraska community bank in foreclosure of a multimillion-dollar loan secured by real estate containing potential environmental and safety hazards as a result of the Debtor’s undisclosed actions.
- National agricultural lender in collecting loan against the debtor and guarantors of a multimillion-dollar loan to a cattle feedlot. Thereafter, represented the lender in subsequent lender liability litigation brought by those guarantors both in the lower courts and in an appellant proceeding before the Eighth Circuit Court of Appeals obtaining an affirmed order dismissing their claims.
- Significant experience with liquidation of forward contracts in bankruptcy and defense of avoidance claims using the “Safe Harbor” provisions of the Bankruptcy Code. This includes the successful defense of a $20 Million dollar preference claim seeking to recover payments for grain delivered pursuant to forward contracts. The decision, In re Cascade Grain Products, LLC, 465 B.R. 570 (2011), is one of the leading opinions on this issue.
- International commodity company and three unrelated Nebraska cooperatives with several million dollars in claims in the prosecution of an involuntary bankruptcy proceeding against an international conglomerate’s subsidiaries.