Practice Areas
Commercial Bankruptcy and Creditor’s Rights
For Debtors: We are experienced bankruptcy and restructuring attorneys, who can plan for the variety of moving parts that make up a commercial restructuring or bankruptcy case and are flexible enough to adapt to the changing circumstances that often occur in reorganizations. From the first client discussions, we quickly analyze a client’s options and present potential courses of action for consideration, both in and outside the bankruptcy system.
The decision regarding whether to file a bankruptcy case has significant consequences that affect a company’s fortunes and determine whether it will even continue to operate. Bankruptcy may be a solution because it can give a struggling business what it needs – time to catch up, decide upon the best course of action, and get back on track – allowing the business to emerge from bankruptcy ready to thrive. But sometimes a company does not need the limitations and burdens that accompany the benefits of a bankruptcy filing, and such a company may be better served by restructuring its obligations and operations outside of the bankruptcy system. Our attorneys help our clients to consider all their options and decide which is best for them.
If a business files a bankruptcy petition and becomes a debtor in possession, there are numerous considerations for that company’s owner. An enterprise’s inner workings can change drastically once bankruptcy begins. For example, a company cannot sell property outside of the ordinary course of business, pay professionals, or obtain credit without receiving Bankruptcy Court approval. Experienced bankruptcy attorneys can prepare a business for these challenges and minimize their impact on a debtor’s operations.
Bankruptcy can create litigation or make existing litigation more complex. It can include issues such as successor liability, assumption or rejection of unexpired leases and executory contracts, disputed asset sales, and officer and director liability. However, bankruptcy can also be used to streamline and manage certain types of litigation. An experienced bankruptcy attorney knows the difference and can assist his or her clients in deciding how bankruptcy may affect their litigation.
Our experienced, creative, and talented bankruptcy lawyers help our clients navigate these issues to reach a successful restructuring resolution.
For Creditors: When a financially-distressed supplier or customer approaches insolvency, a creditor must tread cautiously to avoid the ill-effects. That may mean ceasing to do business with the supplier or customer. It may also mean assessing the risks of continuing business, which necessarily requires understanding when and how a trustee in bankruptcy might demand repayment of funds or the value of goods received by a creditor from the distressed supplier or customer in the 90 days or, in some circumstances, year prior to a bankruptcy filing. As in any business situation, there are dos and don’ts. Our experienced attorneys help clients identify pathways forward before a supplier’s or customer’s bankruptcy filing to minimize exposure to claims for repayment. In addition, once a supplier or customer has filed for bankruptcy, we provide our clients with reasoned and efficient defense of any claims made by the trustee and ensure that our clients’ claims against the bankruptcy estate are successfully maintained.