Debt left unpaid cripples cash flow and grinds business to a halt. For sureties and construction firms, the key to getting money flowing again is nimble, creative planning and action, early on and at every step along the way. WTHF’s Insolvency Group designs creative and cost-effective solutions to help its clients navigate through any insolvency challenge anywhere in the United States.
WTHF's Insolvency and Commercial Law Group helps clients smartly and effectively get money flowing again while minimizing the costly impact of insolvency or bankruptcy.
Both of the Group’s professionals has a unique blend of skills and credentials to guide clients through any insolvency, whenever and wherever they face it.
Thomas T. Pennington heads the Group. He has nearly 30 years of nationwide experience leading commercial and corporate clients, especially sureties, through multi-faceted insolvency workouts and litigation, in and outside of bankruptcy court.
Kirsten A. Roe Worley is another one of the Group’s partners. With a nationwide practice focused on California, she is an experienced litigator who brings her deep knowledge of construction and surety law to bear on the Group’s civil and bankruptcy litigation matters.
“Navigating an insolvency problem means keeping everything moving for our clients until they reach a 'safe spot.' Our goal is to start working with a client early on in order to know their situation inside and out and get them to the 'safe spot' quickly. It's only by reaching that marker expediently that assets are preserved, cash flows are maintained or restarted, and palatable options for the future come into view.” –Tom Pennington, Partner
How We Help
WTHF works with construction and surety clients during all phases of insolvency, providing assistance with:
- Workouts
- Surety Credit & Financing
- Bankruptcy Litigation
- Claims Management & Adjustment
WTHF’s Insolvency Group can help you overcome your financial hurdles before they become obstacles.
More than bankruptcy. While WTHF’s insolvency practice specializes in helping our clients maneuver in and through some of the nation’s toughest bankruptcy cases, it focuses equally on protecting clients from the at times prohibitive costs and disruptions of a bankruptcy in the first place.
Smoothing the road for sureties. When a surety sees that a bond principal will have a rough road in front of it, an early and comprehensive strategy which at once manages the principal’s capital challenges, the inevitable pressures from the principal’s lenders, and the specter of a principal’s or indemnitor bankruptcy, can keep losses well in check.
Counseling contractors in crisis. For contractors in liquidity crises, working out novel financing and other arrangements with lenders and sureties can avert a devastating trip to bankruptcy court. For those dealing with struggling or insolvent suppliers or subcontractors, a nuanced up-front assessment of the prospects for a recovery (directly or through withheld balances) can eliminate months, and even years, of expensive uncertainty. Contractors with recorded mechanic’s liens may need to find funds or other resolution in the sometimes-narrow space between the extremes of foreclosure and a project owner’s bankruptcy case.
