J. Alex Kress Of Counsel

     

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Alex Kress is a commercial restructuring and workout attorney with more than 25 years of experience. His practice focuses on representing financial institutions in workout and reorganization matters. Alex also represents debtors in workout and bankruptcy matters, creditors in defending avoidance actions, and creditors and purchasers in reorganization matters. 

Alex also has represented creditors, debtors, creditors' committees, trustees and other parties in various aspects of reorganization (Chapter 11) and liquidation (Chapter 7) proceedings. He has represented commercial organizations in various transactions, especially lending and acquisition transactions. Alex has actively and successfully handled commercial matters in state and federal litigation. 

Analytical and detail-oriented, Alex's considerable experience in all aspects of restructuring matters helps him to find effective solutions for his clients. He strives for cost-effective solutions, but will forcefully press issues where his client's circumstances require it. 

Areas of Focus

Loan Restructuring
Alex primarily represents banks, lessors and asset-backed lenders in restructuring defaulted or troubled obligations through amendments and forbearance agreements, enabling the bank and the borrower to work out any payment and performance issues. 

Commercial Litigation
Many of Alex’s matters involve state and federal litigation involving financial institutions and borrowers, including asset foreclosures, sale proceedings and other commercial collection matters.

Representative Matters

Represented trustee in operating Chapter 7 case leading to sale of business to majority member. Activities included obtaining authority to operate business, obtaining financing for business, addressing critical vendor and other operational issues, negotiating and consummating sale of assets to majority member, participating in litigation and mediation with minority member, addressing executory contracts, and resolving creditor claims and stay relief motion. 

Represented purchaser in evaluating offer to purchase assets from financially troubled company. Conducted pre-petition negotiations with company and lender. Consummated post-petition acquisition of assets from Chapter 7 trustee. 

Represented landowner in connection with bankruptcy of solar power company. Conducted R2004 examination, prepared and prosecuted successful motion to dismiss case as a “bad faith” filing and for the inability to consummate a plan. Successfully defended dismissal on appeal to district court. 

Represented trustee in reorganization proceeding of individual Chapter 11 debtor and related corporations. Consummated the sale of substantial real property generating more than $21 million to satisfy creditor claims totaling $22 million. 

Represented secured lender in addressing general questions regarding financing documents. Reviewed and revised lender forms including loan agreements, security agreements, draw agreements, guaranties, subordination agreements and ancillary documents.

Published Decisions
In re Smart World Technologies, LLC, 552 F.3d 228 (2d Cir. 2009).
In re Smart World Technologies, LLC, 423 F.3d 166 (2d Cir. 2005).