Creditor & Debtor Rights

Overview

At McCarthy Lebit, we bring an aggressive, but measured, approach to obtaining payments from debtors. Our creditors rights lawyers have extensive experience and undertake to maximize debt recovery on behalf of lenders and creditors through all phases of the bankruptcy proceedings, including pre-bankruptcy workouts and negotiations concerning the use of cash collateral.

We also have expertise in representing debtors and troubled business owners in Chapter 11 and Chapter 7 bankruptcy proceedings.  Our experience on both sides of these matters allows us to handle loan workouts and debt restructuring solutions that safeguard the debtor’s and creditor’s interest.

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 also 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 solutions that will best serve our client’s best interests.

Capabilities

Bankruptcy

Business Reorganization & Liquidation

Creditor Rights

Financial Workouts

Lender Liability

Loan Structuring & Documentation

Receiverships

News & Publications

News & Publications McCarthy Lebit welcomes Nicholas R. Oleski to the...

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Experience

Obtained Judgment in favor of Lender for $565,000

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Obtained Judgment in favor of Lender for $565,000

Obtained summary judgment in favor of purchaser of accounts receivables in the amount of $565,000.

Lawyers

Obtained foreclosure on Commercial Property, Order Denying Broker Fees and Reducing Receiver Fees

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Obtained foreclosure on Commercial Property, Order Denying Broker Fees and Reducing Receiver Fees

Obtained summary judgment in favor of lender, foreclosure on commercial property and orders denying application for broker fee, substantially denying receiver’s counsel’s fee, denying motion to show cause, affirmed on appeal. Variable Annuity Life Ins. v. 113 St. Clair, LLC, 2010 Ohio 5373 (Ohio App. 8th Dist. 2010).

Lawyers

Obtained Judgment in Favor of Lien Holder for $517,000

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Obtained Judgment in Favor of Lien Holder for $517,000

After obtaining an order for the appointment of a receiver and obtaining summary judgment against the tenant in the amount of $517,000 in favor of holder of mechanics lien, on motion to substitute plaintiff (new plaintiff consisted of mechanic’s lien holders who assigned their liens to single purpose LLC) and to waive deposit granted, obtained an order confirming sale to substitute plaintiff with credit bid granted, and took deficiency judgment in the amount of $217,502 and $104,401.23. Substitute Plaintiff then took over leasehold interest and is now running the sports park.

Lawyers

Obtained Judgment in favor of Landlord for $708,334.92 and $1,500,000

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Obtained Judgment in favor of Landlord for $708,334.92 and $1,500,000

Obtained summary judgment in favor of landlord against tenant in default of lease and guaranty in the amounts of $708,334.92 and $1,500,000.

Lawyers

Obtained Judgment in the amount of $242,000 for lender

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Obtained Judgment in the amount of $242,000 for lender

Obtained summary judgment in favor of purchaser of accounts receivables in the amount of $19,000 against judgment creditor and $242,000 against debtor.

Lawyers

Obtained Judgment in the amount of $57,000 for lender

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Obtained Judgment in the amount of $57,000 for lender

Obtained judgment in favor of Plaintiff commercial lender against debtor corporation and individual guarantor in the amount of $57,395.94 plus interest.

Lawyers

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