Mr. Skierski and Ms. Jain are experienced bankruptcy and restructuring attorneys, combining for forty years of experience. They are able to plan for the variety of moving parts that make up a commercial restructuring or bankruptcy case and are flexible enough to change plans and adapt to the changing circumstances that often occur in reorganizations. From the first client discussions, they are able to quickly analyze a client’s options and present potential courses of action for consideration, both in and outside of the bankruptcy system.
The decision regarding whether to file a bankruptcy case has significant consequences that affect a company’s fortunes and determine whether it will even continue to operate. Bankruptcy is often the best solution because it can give a struggling business what it needs – time to catch up, decide upon the best course of action, and get back on a track – allowing the business to emerge from bankruptcy ready to thrive. But sometimes a company does not need the limitations and burdens that accompany the benefits of a bankruptcy filing, and such a company may be better served by restructuring its obligations and operations outside of the bankruptcy system. Our attorneys help our clients to consider all of their options and decide which is best for them.
If a business files a bankruptcy petition and becomes a Debtor in Possession, there are numerous considerations for that company’s owner. An enterprise’s inner workings can change drastically once bankruptcy begins. For example, a company cannot sell property outside of the ordinary course of business, pay professionals, or obtain credit without receiving Bankruptcy Court approval. Experienced bankruptcy attorneys can prepare a business for these changes and minimize their impact on a Debtor’s operations.
Bankruptcy can create litigation or make existing litigation more complex. It can include areas such as successor liability, assumption or rejection of unexpired leases and executory contracts, disputed asset sales, and officer and director liability. However, bankruptcy can also be used to streamline and manage certain types of litigation. An experienced bankruptcy attorney knows the difference and can assist his or her clients in deciding how bankruptcy my affect their litigation.
Our experienced, creative, and talented bankruptcy lawyers help our clients to navigate these issues in order to reach a successful restructuring resolution.