Workouts

OCM offers extensive workout experience, both representing lenders and other creditors and debtors in working out distressed debts, in and out of bankruptcy.

Firm founder Thomas O'Connor, in particular, focused his practice almost exclusively on workout litigation during the last economic downturn, and has worked out many millions of dollars in distressed debt, with individual workout engagements ranging from $1 million to $20 million in debt.

While at Hale and Dorr, Mr. O'Connor was the Founder and Chairman of that Firm's Debtor/Creditor Practice Group. Mr. O'Connor defended numerous claims by the FDIC and the RTC, and helped develop and establish current lender liability law.

Mr. O'Connor has represented financial institutions such as:

• Bankers Trust
• European Financial Group
• Merrill Lynch
• Wells Fargo.

Mr. O'Connor has also represented many borrowers and personal guarantors ranging from real estate developers to owners of closely held or family businesses.

Recent workout engagements by OCM include:

• Representing financially distressed wholesale food company and its owners in contentious workout with its creditors
• Defending a complex constellation of related entities and trusts against claims brought by a trustee in bankruptcy seeking to disregard the entities and trusts and take their assets to pay off creditors
• Defending local construction company and its owners against collection action by judgment creditor and worked out payment terms
• Defending north shore construction company and its owner against myriad collection actions
• Representing distressed consulting company in work out with lenders and trade creditors
• Defending distressed telecom company in debt workout and foreclosure litigation