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Health Care Insolvency & Restructuring

Contact

Andrew M. Troop
Partner, New York
T: +1.212.858.1660
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Areas of Focus

Our Insolvency & Restructuring lawyers advise a broad range of clients on problem loan workouts, distressed situations and bankruptcy issues. Our group includes Chambers-ranked lawyers and is known for developing creative solutions to challenging problems. We keep our clients’ economic interests foremost and provide efficient, results-oriented advice.

What Sets Us Apart

Our Insolvency & Restructuring team solves complex business problems. We are a gateway for developing and finding efficient, effective and creative legal solutions that achieve complex business objectives. Our roles vary from being crisis managers navigating a “bet the company” situation, to being strategic counselors identifying opportunities and helping to execute on them. This does not always happen in bankruptcy court. We have significant experience representing middle-market and Fortune 100 companies in out-of-court restructurings. We are experienced in all areas of problem loan workouts and creditors’ rights issues and litigation. In addition, in bankruptcy cases, we act on behalf of debtors, creditors, official and unofficial committees, trustees and fiduciaries, lessors, and other interested parties.

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Health Care Industry Focus

Pillsbury has a strong restructuring practice when it comes to advising and counseling health care organizations in all aspects of regulatory, transactional and distressed situations. Our team has represented over 60 health care entities since 1995 and has extensive experience representing hospitals and health systems, lenders, trade creditors and other parties in health care-related matters.
We provide legal services of particular depth and breadth, drawing on our lawyers who exclusively serve the health care industry and our Insolvency & Restructuring lawyers who bring substantive skills to bear for the benefit of our clients. Our approach successfully melds the best of both disciplines and gives us a fresh perspective that siloed health care legal practices cannot offer.

Representative Experience

The following are representative matters that our Insolvency & Restructuring team has handled in the health care industry.

  • Represent Official Committee of Unsecured Creditors of Baxano Surgical Inc. in chapter 11 case of a publicly traded medical device company.
  • Represent Crescent Real Estate in the chapter 11 case of Charter Behavioral Health.
  • Represent Regen Biologics Inc. and its affiliate as debtors in their chapter 11 proceedings.

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  • Represent Telecare Corporation in the chapter 11 case of ANKA Behavioral Health Inc.
  • Represent Specialty Hospitals of America and affiliates in their chapter 11 case.
  • Represent debtor Laboratory Partners and advised on the sale of its operations.
  • Represent St. Vincent’s Catholic Medical Centers as a reorganized debtor and served as chapter 11 counsel.
  • Represent North General Hospital in its pre-filing workout.
  • Represent the DC Financial Control Board in the Greater Southeast Community Hospital d/b/a Doctors Community Health Hospital’s chapter 11 filing, as well as the post-confirmation liquidating trust.
  • Represent various financial buyers of hospital assets in Florida, Ohio and Washington, DC.
  • Represent the Official Committee of Unsecured Creditors in In re Columbia Hospital for Women.
  • Represent The Mary Imogene Bassett Hospital and affiliates in a series of transactions in acquiring and/or affiliating with financially distressed hospitals, including buying the assets of Community Memorial Hospital while it was in chapter 11.

Practice Area Highlights

  • Recognized as one of the top restructuring firms in the world in Global Restructuring Review’s prestigious eighth annual GRR100 guide for 2024.
  • Pillsbury is “Highly Commended” by Financial Times for legal innovation in our out-of-court work.
  • Best Lawyers recognizes our Bankruptcy and Creditor/Debtor practice as among the top in the nation and S. News & World Report reports top-tier national recognition to Pillsbury for bankruptcy litigation (2021 – 2025).

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  • Chambers USA recognizes individual Bankruptcy/Restructuring partners throughout our various offi Firm recognized as “Highly Regarded” in 2024 rankings.
  • Lawdragon has recognized several of our partners on their annual lists of the 500 Leading Global Restructuring & Insolvency Lawyers and 500 Leading U.S. Bankruptcy & Restructuring Lawyers.
  • Multiple “Deal of the Year” honors and other accolades from publications such as the Financial Times, M&A Advisor, Global M&A Network, Turnaround Management Association, International Financial Law Review and Latin Lawyer.

Awards

2024 GRR100 Guide—Top Restructuring Firm

One of the top restructuring firms in the world in Global Restructuring Review’s GRR100 2024 guide

2024 Chambers USA Leading Firm

52 Pillsbury Practices and 92 Firm Lawyers

2024 U.S. News—Best Lawyers Best Law Firms

97 Tier 1 practice rankings in the U.S. News—Best Lawyers 2024 Best Law Firms survey

2022 Latin Lawyer Deal of the Year - Restructuring

Counsel for multiple creditors in the Chapter 11 restructuring of Avianca Holdings, S.A.

Resources

Case Study

(VCLF) Prevailing at Trial Against a Determined Plaintiff

Case Study

Bankruptcy as a Civic Service

Case Study

Protecting Bondholders on $850 Million Debt

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