Automotive Restructuring

Overview

The goal of our extensive Automotive Practice Group is to enable clients to do more than survive the frequent cycles and disruptive change in the automotive industry. It is to capitalize on them. For a variety of reasons, sometimes this is not possible. Since the early 2000s, we have counseled over 50 different automotive industry clients as they restructured to address financial issues caused by changes in the industry, the broader economy, or other factors. Many of our attorneys cut their teeth on automotive cases and unique issues resulting from the interplay of customers’ just in time delivery requirements and broad contractual rights, the rights of lenders, and suppliers’ ability to meet constituents’ needs by continuing production.

We have one of the largest and most sophisticated restructuring teams serving automotive clients in the Midwest and have earned a reputation as the advisors of choice for automotive-related businesses contemplating a restructuring, refinancing, distressed sale, out-of-court liquidation, or bankruptcy, and for creditors’ committees and dealerships seeking advice in these situations.

In difficult financial or operational restructuring situations, we provide creative and practical business and legal solutions, drawing on the strong relationships and industry experience of all the attorneys at our firm. Our restructuring attorneys are seasoned and have represented Tier I and II automotive suppliers, automotive dealers, creditors’ committees in automotive cases, steel manufactures, raw material suppliers, plastic mold and tooling providers, engine manufacturers, distributors, logistics providers, and many other automotive industry participants.

We have extensive automotive bankruptcy experience (in both reorganization and liquidation cases) and in out-of-court restructurings, including Article 9 sales and other forms of distressed sales and acquisitions. But our restructuring services focus on much more than just bankruptcy. We are active, aggressive dealmakers, and many of our automotive clients accomplish their turnarounds through non-judicial means. Our expertise in your industry and legal knowledge means we can offer you various legal options to accomplish your business goals.