As Debtors

For many reasons, a business may face serious financial problems at one point or another. Sometimes, businesses make regrettable decisions. Other times, customers may have made some bad decisions that strain the bottom line of the business. Pressures from vendors and creditors can make the mounting financial pressures even worse.

Unlike consumer bankruptcy which may present similar issues from case to case, a business bankruptcy case is always unique. There are many types of business organizations including LLCs, sole-proprietors, partnerships, joint ventures, corporations, franchises, family owned and closely held businesses as well as non-profit organizations. Each presents their own distinctive opportunities and challenges.

And there is often a complication: many businesses, especially those 10 years and younger, started with personal guarantees on certain debts. As a result, the financial concerns of struggling business owners can extend beyond the business. Indeed, it is not uncommon for personal assets and finances to be at risk, and it is not uncommon for business owners to also be facing the prospect of having to seek personal bankruptcy protection. For businesses in financial distress, bankruptcy may be the best option. Some businesses seek bankruptcy protection under Chapter 11 while they reorganize – giving themselves a little breathing room. Others may use Chapter 7 to wind down operations, get assets efficiently liquidated, and allow the owners to move on.

No matter what the situation, business bankruptcies can be complex, especially if they involve issues of unpaid wages, benefits, deposits on services or merchandise, or fiduciary tax contributions and payments. And no matter what your business might be facing, we will give you straight answers, guide you through the process and give you the tools and information you need to move forward. We have the experience in the
courts and our extensive knowledge of the Bankruptcy Code that can effectively guide businesses through the process.

To learn about what we can do for your business, contact us.

As Creditors

Our primary focus is the representation of consumer and business debtors. However, McLeod Law Offices provides limited representation to creditors in bankruptcy. This may include
• Filing proof of claims and litigating objection issues;
• Motions for Relief from Stay to proceed with litigation in another court;
and
In certain circumstances, our creditor practice includes Adversary
Proceedings. To learn about what we may be able to do for your bankruptcy
situation, contact us.