Bankruptcy, Creditors’ Rights, and Alternatives to Bankruptcy
- Counseling the business owner(s) or board of directors about bankruptcy and non-bankruptcy options
- Preparing the necessary paperwork for the bankruptcy filing, including the bankruptcy petition, schedules of assets and liabilities, and other documents
- Representing the business debtor in all aspects of Chapter 11 and 7 proceedings
- Prosecuting avoidance (preference and fraudulent transfer) actions – recovery of certain payments made to creditors prior to the bankruptcy filing.
- Defending the rights of creditors in Chapter 11, 7, and 13 cases
- Representing creditors’ committees in Chapter 11 cases
- Purchasing assets from a bankrupt entity
- Preparing and filing involuntary bankruptcy petitions – a bankruptcy proceeding initiated by creditors.
- Filing proofs of claim – claims for monies due in a bankruptcy proceeding.
- Prosecuting non-dischargeability actions – adversary proceedings to determine whether a debt will survive bankruptcy.
- Prosecuting motions for relief from stay
- Prosecuting motions for payment of administrative expenses in Chapter 11 cases
- Defending avoidance (preference and fraudulent transfer) actions – actions to recover certain transfers made by a bankrupt entity prior to the bankruptcy filing.
For business owners with personal guarantees of business debts
Alternatives to bankruptcy
- Composition agreement – an out-of-court settlement with creditors that allows the company to continue as a going concern.
- Assignment for the benefit of creditors – a state court liquidation proceeding similar to a Chapter 7 bankruptcy.