Representing Creditors and Distressed Companies
Our attorneys undertake to maximize recovery of debt on behalf of lenders and creditors. We also represent troubled businesses and business owners in Chapter 11 or Chapter 7 bankruptcy proceedings. Our experience on both sides of these matters allows us to handle loan workouts and develop debt restructuring solutions that safeguard the interests of all involved parties.
Robert Kracht leads the practice on behalf of individual and commercial borrowers as to bankruptcy and lender liability; Charles P. Royer as to creditors' rights on behalf of banks, financial institutions and commercial borrowers. We commonly represent regional lenders and out-of-state businesses in local matters involving commercial bankruptcy, creditors' rights, lender liability, financial workouts or restructuring.
When representing creditors, our lawyers take a proactive approach. They stress the importance of thorough documentation so that creditors can negotiate from positions of strength. We provide collection services and represent clients in the negotiation of loan workouts. We pursue judgments and enforcement measures through state or federal courts. We handle commercial bankruptcy litigation on behalf of creditors, seeking relief from the automatic stay and asserting secured creditor status. Our lawyers also have extensive experience representing receivers who are responsible for corporate liquidations and reorganizations.
When representing debtors, we analyze their operation fully and advise distressed companies on the best course of action. We have extensive experience with forbearance agreements from both the creditor and the debtor side. We have helped clients negotiate with creditors directly to restructure or partially repay loans. When necessary, we pursue lender liability claims against financial institutions. Some clients have surrendered their collateral to avoid litigation or seizure of assets and accounts. Others have filed for commercial bankruptcy protection in an attempt to reorganize. We look for the most sensible and cost-effective solution that will best serve our client's best interests.
For a detailed explanation of our creditor and commercial bankruptcy services, contact our Cleveland, Ohio, office.
