Assistance During Chapter 11 Bankruptcy
Attorneys Helping You Recover the Money 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.
Request your complimentary case review by clicking here.
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.