Resolving Conflicts of Interests in Business Bankruptcies
It's easy to see how conflicts of interest can arise in the largest bankruptcy cases. The debtor corporation has a long-standing relationship with a major law firm in New York or elsewhere, and turns to the firm's bankruptcy department when financial pressures make Chapter 11 protection unavoidable. But if that law firm also represents, for example, creditors of the corporate debtor, or if the interests of the debtor and one of its subsidiaries or parent companies conflict, the company must find other counsel to handle discrete aspects of the bankruptcy case and thereby avoid the conflict of interest.
Learn more about our bankruptcy services and how we can help your company avoid a conflict of interest by contacting our New York City law firm online today. You may also call 212-594-5000 to discuss your specific situation with a member of our team.
Experience, Independence and Skill in Conflicts Counsel Engagements
Togut, Segal & Segal has built a sterling reputation as conflicts counsel, and has received regular conflicts referrals from the top law firms in the United States. Our firm's exclusive focus on bankruptcy means that we're available to provide high-quality advice and representation; our lack of retainer clients and institutional relationships means that we can be adverse to almost any party without the complications of prior or continuing relationships.
Effective service as conflicts counsel requires more than experience with the demands of complex Chapter 11 cases. Togut, Segal & Segal understands that the role of conflicts counsel is to augment the lead law firm by serving the client with the same excellence that the conflicted firm would offer — the competence we bring to all our cases.
Courts have described the work we do when we take over from lead counsel as "seamless": in other words, one cannot discern the difference between our work and the work done by lead counsel and there is virtually no duplication of effort.
High-Quality, Effective and Innovative Service
Togut, Segal & Segal performs the functions of conflicts counsel with the integrity of the prior attorney-client relationship firmly in mind. Our lawyers also understand that conflicts counsel is called upon to provide client service of the highest quality while supporting and strengthening the client's pre-existing relationship with the lead law firm.
Our firm has served effectively in this capacity in many complex Chapter 11 cases, including those of:
- SunEdison, Inc.
- Aeropostel, Inc.
- American Airlines
- General Motors
- Chrysler Corporation
- Delphi Automotive
- Tronox, Inc.
- Ambac Financial Group Inc.
- Enron Corporation
- Loews Cineplex Entertainment Corp.
- Frontier Airlines
Contact a NYC Bankruptcy and Conflicts Counsel Lawyer
Togut, Segal & Segal has been helping clients resolve conflicts of interests for more than 35 years. Contact our New York County law office online today, or call 212-594-5000 to speak with a member of our team.