Representative Matters

Debtor/Creditor Litigation and Creditors Rights Matters:

Our attorneys have significant experience in creditors rights disputes and representing commercial and consumer lenders in Maine, New Hampshire, Massachusetts, and other states in loan restructurings, receiverships, and out-of-court workout arrangements. Additionally, Preti attorneys have significant experience representing trustees and receivers in bankruptcy and state court proceedings. Preti attorneys represent local and national lenders, lessors, and financiers in all aspects of the debtor/creditor relationship, including foreclosures, replevin and secured party sales, representing creditors in matters involving preference and fraudulent transfer avoidance actions, mechanics and materialmen’s liens, and commercial and consumer collection actions and related proceedings in all state and federal courts. Preti attorneys also represent companies acquiring assets from bankruptcy estates and distressed assets. 

Bankruptcy Matters:

Maine

  • Represented mezzanine lender in Montreal Maine & Atlantic Railway (Maine Bankruptcy Court)
  • Represented Chapter 7 trustee in Sheepscot Bay Boat Co., Inc. (Maine Bankruptcy Court)
  • Represented Chapter 7 trustee in DAL Investments, Inc. (Maine Bankruptcy Court)
  • Represented secured lender in D&O litigation (Maine Bankruptcy Court) and defendants in fraudulent transfer litigation (Maine District Court) in Lincoln Paper & Tissue Chapter 11
  • Represented Chapter 7 trustee in The Pollack Corporation (Maine Bankruptcy Court)
  • Represented Chapter 7 trustee in Carrabassett Valley Spring Water, LLC (Maine Bankruptcy Court)
  • Represented Chapter 7 trustee in MAPS (Maine Bankruptcy Court)
  • Represented debtor in Parkview Adventist Medical Center (Maine)
  • Represented buyer of Chapter 11 assets in The Getchell Agency (Maine Bankruptcy Court) 

New Hampshire

  • Served as Chapter 11 reorganization counsel in Mark Wentworth Home (New Hampshire Bankruptcy Court)
  • Represented senior secured lender with recovery of assets in Leda Lanes, Inc. (New Hampshire Bankruptcy Court)
  • Represented buyer of subdivision rights  in Shepherd’s Hill Development Co., LLC (New Hampshire Bankruptcy Court)
  • Successfully challenged Chapter 11 plan and obtained collateral recoveries for senior secured lender in Horne Excavating, LLC (New Hampshire Bankruptcy Court)
  • Negotiated favorable Chapter 11 plan treatment for junior secured lender in Ragged Mountain Equipment, Inc (New Hampshire Bankruptcy Court)
  • Represented junior secured lender in Chapter 11 proceeding filed by Sanctuary Care, LLC (New Hampshire Bankruptcy Court)
  • Represented secured creditor in USA Springs (New Hampshire Bankruptcy Court)
  • Assisted senior secured lender with stay relief and asset liquidation in Steel Elements, Inc. (New Hampshire Bankruptcy Court)
  • Successfully represented secured lender in contesting Chapter 11 Plan and preserving lien on post-petition condominium assessments in Chapter 11 proceeding filed Carrington Farms Condominium Owners’ Association (New Hampshire Bankruptcy Court)
  • Represented insurer/trade creditor/litigation defendant in Felt Manufacturing (New Hampshire Bankruptcy Court)
  • Assisted secured creditor with asset liquidations in Chapter 7 of Kidder Fuels, Inc. (New Hampshire Bankruptcy Court)
  • Represented secured lender in bankruptcy sales of convenience stores and petroleum distributor in Munce’s Superior Petroleum Products. Inc. (New Hampshire Bankruptcy Court)
  • Represented senior secured lender in Chapter 11 filed by GTAT Advanced Technologies (New Hampshire Bankruptcy Court)
  • Successfully defended trade creditor in $800,0000 preference litigation in GTAT Corporation (New Hampshire Bankruptcy Court)
  • Represented senior secured lender in contesting confirmation and restructuring credit facility in Latva Machine, Inc. (New Hampshire Bankruptcy Court)
  • Represented DIP lender in Upper Valley Commercial Corporation (New Hampshire Bankruptcy Court)
  • Successfully pursued D&O claims on behalf of lender client in Isaacson Structural Steel, Inc. (New Hampshire Bankruptcy Court)
  • Represented Chapter 7 trustee/plaintiff in E&O litigation, resulting in $1 million recovery in Focus Capital, Inc. (New Hampshire Bankruptcy Court)

Massachusetts

  • Represented secured lender in fending off avoidance actions in Blackstone Financial Holdings, LLC. (Mass. Bankruptcy Court)
  • Represented secured lender in 1st New England Mortgage Corporation (Mass. Bankruptcy Court)
  • Represented equipment financier in Pro Bark, Inc. (Mass. Bankruptcy Court)

Delaware

  • Represented trade creditor/litigation defendant in Rupari Holding Corp. (Delaware Bankruptcy Court)
  • Represented class action plaintiffs in TK Holdings (Takata) (Delaware Bankruptcy Court)

Mississippi

  • Represented equipment lessor in Pioneer Health Services, Inc. (Mississippi Bankruptcy Court)

Firm Highlights

Publication

What to do When a Lender Receives a Notice from the Municipality that Mortgaged Property is Going to be Condemned or is in Violation of the Building Code?

Occasionally, a lender will be served a notice from a municipality alerting the lender that a mortgaged property has had unpermitted construction projects, or otherwise violates the municipal building code. The Maine Uniform Building...

News

46 Preti Flaherty Attorneys Selected by Peers for Inclusion in Best Lawyers in America 2022, Including 3 “Lawyers of the Year”

Forty-six Preti Flaherty attorneys have been named to Best Lawyers in America 2022, including four “Ones to Watch” and three “Lawyer of the Year” recipients. Inclusion in Best Lawyers in America is considered a...

Publication

Deadline for PPP Loan Applications Extended to May 31, 2021

On March 30, 2021, President Biden signed H.R. 1799, known as the “PPP Extension Act of 2021,” extending the Paycheck Protection Program (PPP) application deadline by 60 days – from March 31, 2021 to...

Publication

Maine’s Exemption Laws Are Changing

In March of this year, Representative Denise Tepler (D. Topsham) introduced “An Act To Increase the Value of Property Exempt from Attachment and Execution,” LD 737, which sought to dramatically change Maine’s exemption scheme. ...

Publication

Residential Evictions and the Pandemic – Landlords Beware

NOTE: This article addresses the Executive Orders, Pandemic Management Order, and CDC Order in effect on November 3, 2020. As the pandemic changes, these orders are all subject to change and this information may become...

Publication

What Financial Institutions Need to Know about Maine Trustee Process

Trustee process is a form of pre-judgment remedy to secure a plaintiff’s ability to collect on the eventual judgment, costs, and interest in litigation. (Me. R. Civ. P. 4B(a)). Under Maine law, through trustee...

Publication

Bankruptcy Alert: Time's Running Out on Higher Debt Limits of the Small Business Reorganization Act

As we head in to year-end holidays and activities, the clock is ticking on the CARES Act provisions that could help businesses in financial distress and save creditors’ customers – the higher-debt limit that...

Publication

New Eviction Restrictions for Portland, Maine

On November 3, 2020, voters in Portland approved an amendment to the Code of Ordinances which will implement rent control and tenant protections.  The new Sec. 6-236 of the Code of Ordinances extends the...

Publication

Changing Control in the Time of COVID: Navigating ‘Change of Ownership’ Prior to PPP Loan Satisfaction.

The Hypothetical Everyone loves a hypothetical, right? So let’s begin with one about Billy Builder: Billy Builder holds 55% of the equity in a construction business he founded way back when the fax machine...