Mary has a broad range of experience advising clients on bankruptcy and restructuring matters. Her practice involves all aspects of in-court and out-of-court restructuring of financially distressed businesses, including the representation of corporate debtors, official and unofficial creditors' committees, significant stakeholders, and third-party purchasers.
Mary recently represented Binder & Binder, the nation's largest Social Security and veterans' disability advocacy firm, and 23 related entities in their Chapter 11 cases. She has been involved in numerous other high-profile Chapter 11 cases and out-of-court restructurings across a range of industries, including energy, communications, media, paper and printing, and transportation. Her current and recent clients include Binder & Binder (NY), Love Culture, Big M (parent company of Mandee's and Annie Sez), Roomstore, American Community Newspapers, and Ponderosa Pine Energy Partners.
Mary also represents creditors' committees in numerous Chapter 11 cases, with a focus on identifying and obtaining value for general unsecured creditors. Recent committee representations include Taylor-Wharton Industrial, Holsted Marketing, Blitz U.S.A., Hayes Lemmerz, Lear Automotive, Marcal Paper Mills, and Ronson.
Mary also served as special counsel to the Hoboken Municipal Hospital Authority (the only municipal hospital authority in the state of New Jersey), leading a team from Lowenstein Sandler in the successful sale of the authority's assets and the resolution of a potential $60 million bond default by the city of Hoboken.
Bankruptcy, Financial Reorganization & Creditors' Rights | Bankruptcy, Financial Reorganization & Creditors’ Rights
Ken Rosen, Bruce Nathan, and Mary Seymour will present "The Impact of Increased Private Equity and Hedge Fund Activity on Creditors' Rights in the Chemical Industry: The New Normal?" The program focuses on the increased use of prepackaged and pre-negotiated Chapter 11 plans and section 363 sales, loan to own and credit bidding issues, and the increased frequency of make-whole and prepayment penalty protections in favor of secured noteholders that have raised the risk of a de minimis or no recovery to trade creditors, and the resulting heightened importance of an unsecured creditors' committee to maximize trade creditor recoveries. The speakers will also discuss the unique warning signs of a distressed company controlled by private equity or a hedge fund and the disposition of preference claims in such cases.
Lowenstein's Mary E. Seymour offers two presentations at the BCCA-NCMP program, 2018 Media Credit Seminar - NYC. This full-day program focuses on high-level credit-related issues for the media industry’s credit professionals, including those serving its magazine, newspaper, television, radio, cable, out-of-home, interactive, and digital media segments.
12:45-1:45 p.m.: Electronic Transactions: Where the Click Is Mightier than the Pen
As electronic B2B transactions are becoming increasingly prevalent, credit departments need to be aware of the risks created by moving from paper credit applications, contracts, and other documents to their electronic equivalents. In particular, electronic signatures and online presentation and acceptance of terms and conditions – two crucial areas in which business processes are evolving – can create problems in the event of a dispute between the parties that leads to litigation. This program focuses on the requirements for a valid and enforceable electronic signature and contract; the unique risks posed by electronic credit applications, contracts, and other transactions; the state and federal laws governing electronic signatures and transactions; recent court cases addressing electronic signatures and the tools and strategies necessary to help mitigate these risks.
3- 4 p.m.: Protecting Your Company in the Internet Age: The Role of Social Media in Credit and Collections
Social media can be a valuable tool for both credit investigation and for collection purposes. Credit professionals should be aware of what they can and cannot (or should not) do when using social media as a tool to evaluate credit risk and collect claims. This program will focus on the various social media sites that credit professionals can look to, the types of information available through social media, the pros and cons of relying on social media for credit evaluation and collection, the results of a recent survey on credit professionals’ use of social media as part of credit investigation and collection, the legal risks of acting inappropriately, and suggested provisions in your company’s social media policy to help mitigate the unique risks inherent in the use of social media.
For the trucking industry, problems in 2019 stemming from U.S./China trade tensions look small when compared with the damage caused by COVID-19. Tens of thousands of truckers are out of work.
So, industry executives should get familiar with the nuances of the reorganization chapter of the Bankruptcy Code. Chapter 11 is intended to enable companies to restructure debts and to reorganize and revitalize their businesses. But preplanning and speed are key.
© Lowenstein Sandler LLP, 2020