We handle a wide variety of insolvency issues. (Click on a
topic to expand it.)
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Trustee
Representation: We have extensive
experience in representing Chapter 7 and Chapter 11 trustees.
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Preference actions:
We obtain positive results in handling both the run-of-the-mill
vendor-payment situation, and the more complicated transfer. We
have successfully litigated "close" issues concerning the "new
value", "contemporaneous exchange", and "ordinary course"
exceptions.
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Fraudulent transfer
actions: We have addressed everything from the transfer of a
valuable property interest from a filing spouse to a non-filing spouse,
to a fraudulent scheme to "hide" over 50 real properties from creditors.
We have sought the recovery of businesses transferred by individual
professionals to their corporations, and vice versa.
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Claims issues:
Only legitimate claims against the debtor should share in the
distribution by the estate, and only according to the rank and priority
established by the Bankruptcy Code. We have addressed claims
against closely related entities, non-filing spouse claims and issues of priority or secured status.
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Lien issues: We
have challenged purported "liens" on a variety of grounds:
ineffective perfection by trust deed or UCC-1, ineffective Abstract of
Judgment, and fraudulent transfer or preference.
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Creditor
Representation: We provide effective
analysis and strategy of a creditor's options when faced with an obligor's
bankruptcy.
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Defending trustee
avoidance actions: We have assisted clients in defending
preference and fraudulent transfer actions. We take a common-sense
approach in advising clients of their exposure, and the likely costs.
Where the client's interests are best served, we are effective in
negotiating a reasonable solution.
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Obtaining relief from stay:
We have obtained relief from stay for our clients in cases ranging from
the simplest no-equity Chapter 7 case to the most complicated
Plan-oriented Chapter 11.
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Plan issues:
Where possible, we work with debtors' counsel to advocate our clients'
positions before a plan is developed. We assess proposed plans,
and take necessary action to resist unacceptable treatment at both the
disclosure statement and plan confirmation level.
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Debtor
Representation: We provide a full
spectrum of representation of debtors in bankruptcy, from the filing to
the closing of the case.
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Developing an effective
strategy: We assist our clients in deciding if and when
bankruptcy is necessary, and work on a course of action to maximize the
value and effectiveness of bankruptcy for them.
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Filing bankruptcy cases
under Chapters 7, 11 and 13: We prepare the petition,
schedules, statement of affairs and ancillary papers required of
debtors; and prepare our clients for and accompany them to their
creditors' meetings. We work with clients to address any issues
that arise, including their on-going obligations to secured creditors,
plan payment problems, and inappropriate creditor action.
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Defense of
nondischargeability actions: Where client information suggests
that a creditor may seek to avoid discharge, we will develop an
effective strategy for minimizing the risk and/or addressing the action.
Where a nondischargeability action appears to have been brought solely
as "leverage" to obtain reaffirmation of a debt, we can assist clients
in some cases in obtaining an award against the creditor of attorney's
fees incurred in defending the action.
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Pre-bankruptcy and General Insolvency Issues:
We assist clients in avoiding bankruptcy where possible, and in preparing
for an effective bankruptcy where it is not.
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We talk as many clients
out of bankruptcy -- working out a viable non-bankruptcy strategy --
as we do into bankruptcy. We do not assume that bankruptcy
is inevitable in every case of financial distress.
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Where bankruptcy appears to
be the best course, we work with clients, both debtors and creditors, in
maximizing their positions.
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For debtors, this may
include maximizing exemptions, taking appropriate pre-bankruptcy action,
and assessing options in the reaffirmation or redemption of secured obligations.
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For creditors, this may
include minimizing the potential for an avoidance action,
maximizing the available assets for distribution, and protecting secured
status.
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