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| Richard M. Bendix, Jr. | ||||
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Member
Bankruptcy and Restructuring Restructuring, Workouts & Foreclosures International Asset Recovery Group rbendix@dykema.com Chicago, Illinois 312-627-5673
Education
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| Richard Bendix is a Chicago attorney who has practiced as a business bankruptcy and creditors' rights attorney for more than 30 years. During that time, Mr. Bendix has used his extensive knowledge of bankruptcy and commercial law to develop creative, practical and cost effective solutions to problems facing not only financially troubled companies in a wide variety of industries, but also the lenders to those companies. Mr. Bendix has implemented those solutions in bankruptcy cases, assignments for the benefit of creditors, foreclosure sales under the Uniform Commercial Code and out-of-court restructurings. During his career, Mr. Bendix has also represented landlords, equipment lessors, creditors' committees, assignees for the benefit of creditors, purchasers of assets from financially troubled companies, and defendants in preference and fraudulent transfer lawsuits. Mr. Bendix has played significant roles in two ground-breaking Chapter 11 bankruptcy cases - 203 North LaSalle Street and UNR Industries, Inc. Mr. Bendix was the lead attorney for the debtor in the 203 North LaSalle Street case, one of the largest single-asset real estate cases ever filed. In the process of reorganizing the debtor over the opposition of a lender which held a $93 million mortgage, Mr. Bendix persuaded the United States Supreme Court that the Bankruptcy Code's absolute priority rule contains a new value corollary which permits a Chapter 11 debtor's equity holders to retain their interest in a reorganized company over the objection of unsecured creditors by contributing new capital to the reorganized company. Mr. Bendix also served as one of the two attorneys for the debtor in the Chapter 11 case of UNR Industries, Inc., the first company to use Chapter 11 of the Bankruptcy Code to resolve asbestos claims. In the course of reorganizing that company, Mr. Bendix and his partner developed concepts such as a legal representative for future claimants and a channeling injunction which Congress subsequently incorporated into the Bankruptcy Code. In addition to representing owners of commercial real estate and a manufacturer of products containing asbestos, Mr. Bendix has represented a publicly held lumber company, a furniture retailer, hotels, a medical imaging company, suppliers of food and beverages to airlines, distributors of products as varied as steel and toys, and numerous middle-market manufacturing companies. On behalf of lenders, Mr. Bendix has been involved in bankruptcy cases and out of court restructurings of an automobile parts manufacturer, branding companies, consumer product distributors, mortgage originators, finance companies, men's clothing retailers, assisted living centers, office buildings, apartment buildings and commercial and residential real estate developers. Seminars and Speeches
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