I have represented large and small businesses–from commercial property developers and construction suppliers to newspapers and churches–in bankruptcy reorganizations and liquidations. Whether your business is interested in exploring a Chapter 11 reorganization, or one of your customers is seeking a Chapter 7 liquidation and a discharge of debts owed to your business, it is important to locate an attorney who specializes in representing businesses interests in complex bankruptcy proceedings.
For companies that are struggling, it is important to understand that early planning is the best medicine. I always prefer to take a flexible approach to reorganization, simultaneously seeking workouts outside of the bankruptcy system, while also planning a bankruptcy strategy should your business’ creditors be unwilling to work with you to effect a positive change for your business. But the most successful reorganizations are usually those that have had strategies planned well in advance of an actual default.
Business creditors who receive notice that one of their customers has filed for bankruptcy often “leave money on the table” by simply writing off the debt without taking steps to protect their rights in the bankruptcy. Many bankruptcies do result in payments to creditors, but creditors who do not file the necessary papers with the bankruptcy court before the applicable deadline can become ineligible to receive such payments.
If you would like to discuss a bankruptcy issue with me, please call my office at 800-747-9354 to make an appointment.