Litigation - View Litigation Case Studies
While my practice is almost exclusively in the area of insolvency and bankruptcy, over the years I have litigated many issues in other areas of law. While Bankruptcy is a particular specialty of substantive and procedural law, there is no general federal law of property or transactions. Thus, we often litigate real estate, commercial, and corporate issues ancillary to insolvency representation, but which do not themselves entail the law of insolvency or bankruptcy. We have litigated hundreds of bankruptcy and non-bankruptcy matters, several dozen of which have resulted in written judicial opinions. A representative sample is shown here. It will be noted that the great majority of these are victories. They were not chosen for this reason. The ratio of successes shown here is generally consistent with our broader results
Workout and Turnaround - View Workout and Turnaround Case Studies
Our typical client is a small businessman who perceives that his business is failing, and who has been advised by other professionals to seek bankruptcy advice. We have learned over the years that bankruptcy protection is seldom the first choice of remedy. There are many reasons for this. First, the only reorganization protection for businesses is under chapter 11 of the Bankruptcy Code. This statute is designed for large businesses. Smaller companies simply cannot afford the special legal, accounting, and management costs (typically $50 - $150,000) that formal bankruptcy reorganization entails. Moreover, a company that is losing money prior to bankruptcy will, if not ‘repaired’, continue to lose money while under court protection. The Bankruptcy Court will not allow itself to be used a shield to allow a company to run up more debt, and such a company will be (at least in this district) be converted to chapter 7 liquidation, which is the worst possible result for the business, its creditors, its customers, and its owners. Conversely, if a business CAN be made profitable, we can almost always negotiate forbearances and payment arrangements with the creditors, which makes bankruptcy protection unnecessary.