Bankruptcy and Creditors' Rights
Consumers have rights when they file for bankruptcy, but many forget that creditors - landlords and lenders - have corresponding rights, too. While their customers are looking to liquidate or reorganize their debts, creditors are rightfully focused and lawfully justified in seeking what is duly entitled to them. We can help them with that.
When someone files for bankruptcy, his or her financial future may improve and become clearer. For a creditor, a business can be at stake by not being able to collect on a debt. The goal is to develop a strategic plan to achieve maximum recovery of the debt. That can come about through a variety of means, which include negotiations, alternative dispute resolution methods or litigation, when necessary. Our attorneys specialize in lift-stay motions, obtaining post-petition use and occupancy and filing proofs of claims on behalf of landlords and lenders.
We also provide representation to property owners and developers facing bankruptcy, to help them safeguard their business interests. They need aggressive advocacy just as much as creditors and bankers need an ally to protect their rights. At Belkin Burden Wenig & Goldman, LLP, our bankruptcy/creditors' rights attorneys represent our clients at preference proceedings.
Preference proceedings are usually scheduled when a creditor is paid by the debtor to resolve in part or in full a pre-existing debt within a certain amount of time before a bankruptcy filing. The trustee is authorized to recover the assets used to pay off the creditor and holds on to them for anywhere from 90 days to one year. There are exceptions that allow for transfers that take place during the normal course of business.
In addition to providing bankruptcy/creditors' rights representation for our clients, we also counsel them on related financial matters. Whether they are on the verge of bankruptcy or are looking to assert their rights as a creditor, we advocate on their behalf and try to find the best possible solution for them.
For more information or to schedule an appointment on bankruptcy/creditors' rights, please contact us.