Assistance During Chapter 11 Bankruptcy
Attorneys helping you recover the money that’s owed to you
Our Irvine lawyers at Geraci Law Firm are committed to helping creditors secure their debts when a debtor has filed for Chapter 11 bankruptcy. In Chapter 11 cases, as with personal bankruptcies, creditors have a right to claim and petition for their debts, but this process differs depending upon the type of debt.
UNDERSTANDING SECURED AND UNSECURED DEBTS
If you have a secured debt against a business’s property, you are in a stronger position than other creditors seeking recompense for unsecured debts. Even if the debtor fails to reorganize, you may be able to liquidate the collateral for payment of the debt.
Secured debt could include property such as:
- Real estate
- Other collateral
If you are one of the many creditors with unsecured debts owed to you, it may be wise to seek the counsel of a lawyer to discuss your ability to participate in the creditors committee. This committee is designed to represent the interests of all unsecured debtors throughout the reorganization process. Membership has advantages and disadvantages, and it is best to contact our firm and discuss this option with your attorney before deciding if you will participate. Because of a conflict of interest, secured creditors do not sit on the committee unless they are undersecured, or have additional unsecured debt that far exceeds their secured debt interests. We help assess your creditor status.
STRONG REPRESENTATION ON YOUR SIDE
Our firm has represented creditors at Chapter 11 bankruptcy proceedings, and we are also able to represent the committee as an entity, as well as perform any necessary services on its behalf. We help the committee to understand its rights, negotiate with the debtor on the committee’s behalf, and represent the committee at court. We can also assist in negotiating reorganization plans while maintaining creditor interests.
Creditors have a more active role in a Chapter 11 case than in other bankruptcy cases as they are a part of the reorganization process. Our firm can assist any creditor involved in a Chapter 11 bankruptcy by handling the vast amounts of paperwork and procedures that are involved in this type of bankruptcy, including review of filings, motions, objections, and hearings.
Contact our firm today at (949) 298-8050.