Firm Overview

Bankruptcy – Debtors’ & Creditors’ Rights

Bankruptcy and debtors’ and creditors’ rights are complex legal disciplines where parties compete for a share of a debtor’s assets with their respective rights and obligations governed by complex rules embodied in the U.S. Bankruptcy Code and its associated Bankruptcy Rules. Competent assistance from attorneys who are well-versed in the rules of bankruptcy practice, workouts, and debtors’ and creditors’ rights are essential to debtors who are unable to pay their obligations and facing financial catastrophe or creditors whose ability to recover a loan,  or the value of merchandise, or a balance for services has thereby been severely compromised.

The Firm serves the needs of both the small and medium-sized business, as well as the individual client – whether as a Creditor or Debtor – in all federal bankruptcy jurisdictions, including those of the New England states.

For the Creditor:

We offer pro‑active counsel in all matters in which the rights of the Creditor may be affected by the provisions of the Federal Bankruptcy Code, including the: (i) determination of priorities between competing Creditor-claim interests, including those that arise under the Uniform Commercial Code or applicable state statutory lien laws; (ii) drafting and filing of proper Proofs of Claim;(iii) Cash Collateral and Adequate Protection disputes; (iv) Valuation of collateral issues; (v) Requests for Relief from the Automatic Stay; (vi) Chapter 11 and 13 Plan Confirmation issues; (vii) litigation involving leases and executory contracts; and (viii) Adversary proceedings.

Defensively, and in anticipation of an impending bankruptcy filing by a Debtor, we counsel the Creditor in methods designed to enhance the recovery of all claims and secure the greatest dividend from the expected insolvency; and, if necessary, act as defense counsel in litigating any claims that may be brought against the Creditor by a Debtor or a Chapter 7 Trustee for turnover or recoupment, including preference and fraudulent conveyance claims.

For the Business Debtor:

Whether a small businessperson operating as a sole proprietor — who may be confronted with a financially distressed enterprise — or a larger corporate or partnership entity, we counsel management to determine whether a debt restructure program might be effected without resort to formal bankruptcy proceedings, viewing that relief only as a last resort.  If such proceedings become inevitable, and reorganization is warranted, we work closely with the client to ensure that an orderly and expeditious Chapter 11 Reorganization Plan is achieved.

For the Individual Debtor:

Our typical client is a single person or family who owns an overburdened home or owes personal debt beyond their ability to pay. We provide creative analysis in the formulation, structuring, and implementation of debt adjustment programs – either outside of or within the purview of  Chapter 13 of the Bankruptcy Code – to achieve effective financial relief and avoid  the disastrous step of having to liquidate all of the individuals assets to pay the creditors under a Chapter 7 proceeding. If that final step becomes inevitable, we work with our client to obtain financial relief while maximizing the retention of as many of their assets as is permitted under apposite exemption laws. 

“Attorney Schultz was an extremely kind and thorough attorney [and] completely satisfied my expectations.”

Helaine D. relative to advice about a consumer credit problem.