Attorney Suzzanne Uhland Co-Authors Article on Shipping Bankruptcies

Battered by the global credit crisis of 2008, the shipping industry has not recovered. Curbed lending, combined with a glut of ships, means a tide of bankruptcy filings. In her Law360 article entitled “Will SLVs Hold Water in Shipping Bankruptcies?" (2012), Uhland suggests that Chapter 11 and the rejection power of Bankruptcy Code section 365 may provide relief. However, the stipulated loss value (SLV) provision that is often part of such agreements may also pose hazards. The SLV formula can set damages far beyond remaining amounts owing on the charter. Whether bankruptcy courts will enforce these is uncertain, but, as noted by Uhland, “guidance can be found by turning from sea to sky--to cases involving aircraft leases.”

According to Suzzanne Uhland and co-author Andrew Parlen, the Third Circuit’s decision in the Trans World Airlines bankruptcy case presents obstacles for ship owners seeking to enforce an SLV-based damages claim that is out of line with actual damages. The holding that the lessee does not have to bear market risk could be applicable to shipping cases given the current oversupply of ships. “The recent cases outside the Third Circuit that have ignored the ruling and its reasoning, however, suggest that ship owners may still have room to navigate,” they add.

Suzzanne Uhland is a partner at O’Melveny & Myers in San Francisco. She was honored by the “Profiles in Diversity Journal” in its 2010 Women Worth Watching issue.

Suzzanne Uhland and Distressed Company and Bankruptcy Litigation

A Partner at O’Melveny & Myers LLP, Suzzanne Uhland possesses a great deal of experience handling distressed company and bankruptcy litigation. Uhland and the firm understand that financial distress can strain relationships between investors and companies. Oftentimes, financial loss can result in parties seeking out alternative methods of recouping their investments. 

At O’Melveny & Myers, Suzzanne Uhland and her colleagues have helped many clients through large-scale disputes. Clients include general and limited partners in private investment funds, substantial financial institutions, and major operating companies in a variety of industries, such as entertainment and media, retail, insurance, labor, real estate, and technology. The firm has handled cross-border and multi-party disputes as well as fraudulent transfer claims with both domestic and international parties. O’Melveny & Myers uses a combination of trial skills, insolvency knowledge, and litigation experience to help clients through difficult cases. 

Suzzanne Uhland herself is the Chair of Restructuring Practice and partner at the firm’s San Francisco office. She draws upon her extensive background in Chapter 11 reorganizations and Bankruptcy Code Section 363(b) sales.. Over the years, Uhland has accumulated an impressive list of accomplishments. She represented one of the largest subprime lenders, New Century Financial Corporation, in its chapter 11 case, including numerous bankruptcy litigation matters within that case. Suzzanne Uhland also helped Spyglass Entertainment, a subsidiary of Metro-Goldwyn-Mayer, through MGM’s Chapter 11 restructuring. Other notable clients include Advanced Marketing Services, SeraCare Life Sciences, Inc., and Saga Investments, LLC. 

Considered one of the best lawyers in America, Suzzanne Uhland’s work has been highlighted by Chambers and Partners USA and Orange Coast Magazine.