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Bankruptcy & Financial Restructuring


The restructuring of businesses and collection of debt requires more than just knowledge of the Bankruptcy Code. Dorsey brings to the Bankruptcy and Financial Restructuring group not only nationally renowned bankruptcy lawyers, but also lawyers experienced in mergers and acquisitions, corporate governance, tax law, securities law, finance, business litigation and other disciplines that are critical to the restructuring of viable businesses and assisting creditors and others in preserving their rights.  Through this interdisciplinary approach, Dorsey’s clients are not only able to address the legal issues at hand, but can also best achieve their larger business goals. The group handles both transactional and litigation oriented matters across the country, working on some of the largest cases.  Our representation extends beyond debtors and creditors to include fiduciaries, trustees, equity holders and buyers of distressed assets. 

Dorsey’s Bankruptcy and Financial Restructuring attorneys help a wide variety of clients, including: 

  • Secured and unsecured creditors in bankruptcy and receivership cases
  • Secured creditors in UCC and mortgage foreclosures in Chapter 11 bankruptcy cases
  • Creditors’ committees and individual creditors serving on committees in Chapter 11 bankruptcy cases
  • Debtors
  • Indenture trustees in bankruptcy cases and trust instruction proceedings
  • Parties with executory contracts in bankruptcy cases
  • Receivers in federal and state bankruptcy proceedings
  • Buyers of assets in bankruptcy and receivership cases
  • Boards and board members of financially distressed companies 
  • Parties to out-of-court workouts
  • Parties in preference, fraudulent conveyance and other avoidance or insolvency related actions

View our presentations here.


Representative Matters
Select Secured Creditor Representations

  • Dennis E. Hecker (D. Minn.) – Representation of secured bank lender in Chapter 7 case and debtor’s related criminal proceedings.
  • General Growth Properties (S.D.N.Y.) - Representation of holder of over $300,000,000 in secured and unsecured debt.
  • DBSI, Inc. (D. Del.) - Representation of holder of $20,000,000 secured claim in case where an intermediate lessor of the property attempted to reject the leases with the tenants on the security property.
  • Opus East, Inc. (D. Del.) - Representation of agent for secured lenders holding $28,000,000 in claims.
  • Opus West, LLC (N.D. Texas) - Representation of agent for secured lenders holding $49,000,000 in claims.

Select Debtor Representations

  • Forcenergy, Inc. (E.D. La.) - Representation of operators of Alaska oil & gas fields (Cook Inlet and Prudhoe Bay) in Chapter 11 reorganization of working interest owner.
  • Distribution Dynamics, Inc. (D. Minn.) Represent debtor in Section 363 sale of substantially all of its assets in two transactions for an aggregate of $35,000,000.
  • North American Bison Cooperative (D. N.D.) - Representation of debtor in restructuring of the largest bankruptcy case in North Dakota history at the time. 

Select Bankruptcy Trustee Representations

  • Patriot Coal Corporation (E.D. Mo.) - Representation of Indenture Trustee.
  • Waterford Funding, LLC (D. Utah) - Representation of Chapter 11 Trustee.
  • Geneva Steel LLC (D. Utah) - Representation of Chapter 11 Trustee.
  • JL Building, LLC (D. Utah) - Representation of Chapter 7 Trustee.
  • Athanasios III, LLC (D. Utah) - Representation of Chapter 7 Trustee.

Select Adversary Proceedings

  • Mortgage Lenders Network, Inc. (D. Del.) - Representation of largest secured creditor and mortgage loan purchaser in comprehensive settlement of claims involving multi-faceted relationship, and on liquidating trust committee following plan confirmation.
  • Alliance Bancorp (D. Del.) - Representation of secured creditor in large preference avoidance action related to pre-bankruptcy termination of mortgage warehouse lending and loan purchase relationships.
  • Petters Company, Inc. (D. Minn.) - Representation of multiple clawback defendants.
  • GenSci Orthobiologics, Inc. (C.D. Cal.) - Representation of holder of $17,000,000 judgment for patent infringement.
  • Farmland Industries, Inc. (W.D. Mo.) - Representation of members of a joint venture in litigation over a $27,000,000 setoff claim and purchaser in a 363 sale of real and personal property.

Select Asset Acquisitions

  • Executive Greetings, Inc. (D. Conn.) - Representation of bidder in Section 363 sale of a business line valued in excess of $25,000,000.
  • Polaroid Corporation (D. Minn.) - Representation of successful purchasers in highly contested asset sale which included distribution of equity interest as part of $89,000,000 bid package.
  • Candescent Technologies Corporation (N.D. Cal.) - Representation of successful bidder for multi-million dollar patent portfolio.
  • Dakota Arms, Inc. (D. Minn.) - Representation of t holder of $9,000,000 unsecured claim and ultimate purchaser of assets.
  • Agway, Inc. (N.D.N.Y.) - Representation of bidder in Section 363 sale of a business line valued in excess of $25,000,000.


Best Lawyers

2022 Lawyer of the Year, Michael Mills, Anchorage-Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, Best Lawyers

US News Best Lawyers 2023 Leading Bankruptcy Law Firm

US News Best Lawyers 2023 Top Banking and Finance Law Firm

US News Best Lawyers 2024 Leading Public Finance Law Firm

Chambers Leading Firm USA 2024

Over 90 Dorsey Super Lawyers 2024

BTI Client Service A-Team 2022

Recommended Restructuring and Insolvency Practice Ranked in MN IFLR1000 2022

Recognized in Restructuring & Insolvency 2022 China Business Law Journal


Monica Clark
Practice Group Co-Chair
Alessandra Glorioso
Practice Group Co-Chair

Industries & Practices

  • Banking & Financial Institutions
  • Consumer Financial Services
  • Corporate Trust Services
  • Financial Services Regulatory
  • Foreign Banks and Financial Institutions
  • Lending Transactions
  • Securities & Financial Services Litigation & Enforcement