Bankruptcy and creditor's rights
In lending, when things go wrong, our Banking Group is by our clients' side counseling with regard to creditors' rights, collection techniques, forbearance agreements and work outs, and should it become necessary-representation in bankruptcy proceedings. This is where our resourceful and resolute representation is most necessary and where we excel.
Foreclosure and other litigation is not always the best method of being made whole and should not be an automatic reaction to default. In appropriate situations, work outs and debt restructuring strategies developed within our Banking Group can give both the lender and its customers an opportunity to preserve the credit, and possibly the underlying company. When there is no alternative to litigation, an aggressive approach can lessen the pain by bringing matters to a conclusion swiftly, and possibly even by agreement. Once involved in an irretrievable default situation, there is still room for the creativity which deep knowledge allows, including assisting our clients with deeds in lieu of foreclosure (including with an agreed upon deficiency amount), consent foreclosure, assignments for the benefit of a lender and, in bankruptcy, debtor in possession financing, cash collateral issues and preference claims.