Insolvency is a process, not a verdict. Entered deliberately, it is one of the more orderly things the law does.
The approach
The firm represents debtors and creditors in all chapters, individual Chapter 7 and 13, business Chapter 11 including subchapter V, together with creditor rights, adversary proceedings, and out-of-court workouts for parties who would rather not file at all.
A great deal of value is decided in the weeks before a petition: which assets are exempt, which transfers will be scrutinized, whether a workout remains available. Clients who telephone early have options. Clients who telephone after a judgment has been entered generally have fewer, and pay more for them.
Major areas of work in this practice
Individual Chapter 7 liquidation and Chapter 13 repayment plans for a person whose debts have outrun what can be managed voluntarily.
Chapter 11, including the streamlined subchapter V available to smaller businesses, and the out-of-court restructuring that sometimes achieves the same result.
Proofs of claim, relief from the automatic stay, preference defense, and adversary proceedings brought on behalf of a creditor in someone else’s bankruptcy.
Negotiated resolution of distressed debt, forbearance, assignment or restructuring, for parties who would rather not file at all.
Resources
Representative matters
Details are altered to preserve confidentiality.
Questions
Will I lose my house?
In Florida, usually not. The homestead exemption is unlimited in value, though acreage limits and timing rules apply and both are unforgiving.
What is subchapter V?
A streamlined Chapter 11 for smaller businesses, faster, cheaper, and without a creditors’ committee. It has made reorganization realistic for companies that could not previously afford it.
Should I file, or work it out?
That depends on how many creditors there are and whether they will act in concert. A workout with two lenders is plausible; a workout with forty trade creditors rarely is.
The first conversation costs nothing, and commits you to nothing.
