|
|
|
|
|
        |
|
|
 |
Our attorneys focus exclusively on the needs of the creditor involved in bankruptcy through its customers, tenants, vendors, contractors, and distributors. While often a difficult process, businesses have come to appreciate our dedication to client satisfaction, married with our aggressive and results-oriented approach. More than any other area of the law, bankruptcy is a field in which clients need to avoid spending "good" dollars chasing "bad" dollars. Our lawyers are sensitive to this concern, and strive in all bankruptcy matters to provide the most economic and efficient level of representation possible for the legal dollar spent. Our bankruptcy attorneys possess the skills, knowledge and resourcefulness to help solve business problems and, when necessary, litigate unresolvable bankruptcy matters to conclusion.
Basic Creditor Representation Package All creditors need to have certain actions performed for virtually every bankruptcy. These actions include: monitoring the bankruptcy for dismissals and discharge; reviewing the proposed reorganization and Chapter 13 plans; filing timely claims; attending the mandatory creditors' meeting with the debtor; seeking reaffirmation agreements; and assessing the prospects for challenging the discharge of the debtor or lifting the automatic stay. Above all, creditors need quick reporting of the status of the bankruptcy and an analysis of the options available to minimize the disruption caused by the bankruptcy. That's where our bankruptcy attorneys excel. The actions outlined above will ensure that your claim is registered and acknowledged by the trustee or debtor in possession. A Klinedinst attorney will provide the information that you will need to determine whether to pursue the debtor further, or to "cut your losses" quickly. The actions will also let you explore the possibilities of maintaining a viable business relationship with the debtor after bankruptcy, if that would be ultimately beneficial to your business.
Representation Beyond the Basics In some cases, litigation may arise within the bankruptcy proceeding which would require more extensive representation, research and court appearances. Of course, the decision to engage in these activities will depend on whether the probable financial result will justify the effort. Litigation may arise in a number of ways. First, the debtor's trustee may seek to recover funds paid to a client prior to the filing of the debtor's bankruptcy petition, either through a "preferential" or "fraudulent transfer" action. Second, the debtor may object to your claim and require you to substantiate the claim in litigation, known in bankruptcy court as an "adversary proceeding." Third, your claim against the debtor may not be dischargeable under the Bankruptcy Code, allowing you to challenge the discharge through an adversary proceeding. Fourth, you may need an order to overcome the automatic stay to allow you to repossess property under a lease, or to ensure that property in the debtor's possession is maintained and protected from damage or decay. In addition, some debtors who choose to reorganize their businesses will be supervised by an organized and legally empowered Creditors' Committee. The Creditors' Committee has the right and obligation under the Federal Bankruptcy Code to investigate the debtor's business practices, to advise the debtor with its reorganization, to review the debtor's reorganization plan, and to generally oversee the disposition of claims against the estate and the collection of assets for the estate. If your business has a substantial financial stake in seeing that the debtor's business gets back on its feet to pay the debts owed to your business, being represented on the Creditors' Committee is one of the more effective ways of ensuring your financial interests. Because the effort involved in undertaking those actions will vary depending on the facts of the situation and the attitude of the debtor or trustee, Klinedinst attorneys charge a reasonable, hourly fee. Most importantly, as part of the basic package, our legal experts provide you with the information necessary for you to decide whether engaging us for any of these additional actions would be in your best interests. After all, an informed client is the very best client.
|
|
|
 |
 |
