With significant experience in all bankruptcy controversies such as relief from stay and preference litigation, fraudulent conveyances, insolvency and valuation disputes, or reorganization plans, McConnell Valdés has developed a solid Bankruptcy practice, with Bankruptcy Attorneys representing several inter-related disciplines.
Whether advising clients dealing with financially troubled third parties, counseling creditors' committees, clients structuring transactions about bankruptcy considerations, or arguing before the Bankruptcy Appellate Panel, District Court, Court of Appeals, and Supreme Court, our lawyers offer advice encompassing all aspects of federal bankruptcy laws, as well as matters such as workouts negotiations and foreclosures that affect bankruptcies. Our practitioners are well-known in the bankruptcy community and have forged strong working relationships with key players in the local bar.
Much of our representation in connection with secured and unsecured commercial and individual creditor's rights, deal with liquidation, reorganization issues in cases involving troubled third-parties; complex asset structuring, collection cases; lender liability cases; franchisors in reorganization and liquidation cases of its franchisees; parties involved in negotiated workouts and arrangements; purchasers of or investors in troubled real estate and natural resource projects, and investors and lenders in acquisitions and new financing of troubled companies or their assets.
The Bankruptcy Team is comprised of attorneys from the litigation, corporate, labor, and taxes practice groups who have worked extensively within the area. These attorneys have provided litigation counsel in numerous high-profile bankruptcy matters representing secured and unsecured creditors, liquidating trustees and serving in committees.
The group works as a team for each client, with a specific attorney serving as lead, while others are called upon when needed, and are quickly brought up to speed on an issue. Each attorney shares the common goal of providing the highest-quality legal services to clients in the most consistent, efficient and cost-effective manner.
Among other significant bankruptcy cases the members of the Group have been involved in the following bankruptcy cases in Puerto Rico: Hy-Gain de Puerto Rico, Inc., BSJ Tower, Parador Vistamar, Caribbean Beach Club Hotel, Parque Industrial Ro CaZas, World University, Cervecera Corona, E1 Reportero, Montilla Records, Gem de Puerto Rico, Hotel San Juan, Hotel E1 Conquistador, Hotel Palace, Sam P. Wallace de Puerto Rico, Inc., Los Frailes Service Station, Hospital de Diego, Buena Vista Dairy, Servicios Integrados de Medicina Avanzada de Humacao, Inc., Air Puerto Rico, Emrito Estrada Rivera Enterprises (the largest commercial bankruptcy case ever filed in Puerto Rico with claims exceeding $141 million), La Electrnica, Southmark Corp., Interspace Industries, Inc., Colonial Mortgage, Bankers Corporation, Restaurant Development of P.R., Inc., Federacin de Desarrollo Agrcola, Carolina Steamship, Inc., Asociacin de Servicios Mdico-Hospitalarios de Fajardo, Asociacin de Servicios Mdico Hospitalarios de Yauco, Payless Wholesalers Distributors, Inc., El Mundo Corporation, Saint Crispin Shoe Corporation, Parque Forestal, Inc., Charles Unanue, Luis Acosta, Inc., Fried Chicken Express, Auto Principal Corp., Mec Steel Corp., Almacenes Gigante (Yayabo Stores), Agropecuaria Juan Daz, Inc., VilariZo Supermarkets, Inc., Trocha Lumber Supply, PPM Chemical Corp., RMJ, Inc. (Antibes Hotel), Empresas Domingo Domnguez, Inc., Gem de Puerto Rico, and Plaza de Diego Shopping Center, Inc., among many others.
For representative cases with published opinions, see Poncebank v. Memorial Prods. Co. (In re: Memorial Prods. Co.), 212 B.R. 178 (BAP 1st Cir. 1977); Nasco, P.R. Inc. v. Chemical Bank, 117 B.R. 35 (Bktcy. P.R., 1990); Payless Wholesale Distribution, Inc., et al. v. Alberto Culver (P.R.), et al., 989 F.2d 570 (1st Cir. 1993); In re Plaza de Diego Shopping Center, Inc., 911 F.2d 820 (1st Cir. 1990); Lars, Inc. v. Taber Partners, 290 B.R. 467 (Dist. P.R. 2003); In re: El Mundo Corporation, 208 B.R. 781 (Dist. P.R., 1997); In the Matter of Ulpiano Unanue Casal, 144 B.R. 604 (Dist. P.R. 1992); In the Matter of Gem de Puerto Rico, Inc., 79 B.R. 142 (Dist. Ct. P.R. 1987).
- In re La Electrónica, Inc.
- In re Emérito Estrada Rivera
- In re Syroco, Inc
- In re Bumpers Royal
- In re La Reina management
- In re Plataforma I
- In re Atlantis Healthcare
- In re Redondo Construction Corp.
- In re Executive Leasing, Corp.
- In re Parque Forestal
- In re Plaza de Diego
- In re Trébol Motors
- July 7, 2015U.S. Court of Appeals Upholds Ruling Invalidating Puerto Rico Recovery Act
- June 29, 2014Local “Bankruptcy” Law for Debt-Restructuring of State-Owned Corporations Signed
- June 25, 2014Governor of Puerto Rico Files Bill for Restructuring Debt of Public Corporations