McAllister Garfield’s bankruptcy and restructuring practice, led by Dan Garfield, solves its clients’ problems in times of financial or other distress by providing in- and out-of-court solutions to businesses in numerous industries, including cannabis, real estate, transportation, manufacturing, energy, construction, retail, and financial institutions. The firm strives to handle such matters efficiently, as resources are extremely limited in these circumstances.
Filing for bankruptcy can be a stressful time for everyone involved. At McAllister Garfield, our bankruptcy lawyers are dedicated to helping individuals and businesses navigate the complexities of debt and restructuring. Our experienced attorneys can help you select the right bankruptcy plan with your best interests in mind.
We take pride in our wide legal knowledge and fierce negotiating skills allowing us to offer tailored advice to businesses and individuals. We have provided in- and out-of-court solutions to businesses in a range of industries, including energy, construction, real estate, retail, cannabis, transportation, manufacturing, construction, and finance. Our team understands that resources are extremely limited in these circumstances which is why we aim to handle matters quickly and efficiently.
Who Needs a Bankruptcy Attorney?
- Is your business experiencing continued decreases in cash flow?
- Are you unable to meet debt obligations such as loans and lease payments?
- Are you behind on taxes?
- Has it become difficult to meet payroll?
- Are you getting consistent calls from creditors?
- Have company executives pooled personal money to satisfy debt or payroll?
If you answer “yes” to any of these questions, it might be time to discuss your options with a bankruptcy lawyer. There are various bankruptcy options that can help entrepreneurs endure economic challenges and gain better control of their economic future.
Contrary to popular opinion, filing for bankruptcy is not the end of the world. In fact, a bankruptcy can represent an important opportunity to start fresh and explore new ventures. With the right legal assistance, you’ll be in a better position to maximize your remaining assets and persevere long-term.
How Business Bankruptcy Works
Financial hardships can strike anytime and leave an enormous strain on your business. In some cases, they may even bring sufficient cause to file for bankruptcy.
Bankruptcy is a legal process where a business or individual is formally declared to be unable to pay its debts. During the court proceeding, a judge and court trustee examines the company’s assets and liabilities and decides whether to dismiss its existing debts. Bankruptcy gives enterprises whose finances have crumbled an opportunity to start over.
Filing for bankruptcy, however, involves a long and complicated process. It is therefore imperative to be supported by skilled legal experts every step of the way. Taking advantage of our expert legal counsel can make a big difference as to the amount of assets you may be able to retain and the debt you can eliminate. You can trust us to simplify the process and ensure the best possible outcome.
In addition, it’s crucial to speak to a lawyer before deciding to go through with bankruptcy. Depending on your current financial standing, you may have other options to free you from debt apart from going bankrupt.
Chapter 7 and Chapter 11 Business Bankruptcy
McAllister Garfield is Board Certified in business bankruptcy law. Our clients in bankruptcy proceedings include Chapter 7 and 11 debtors, creditors’ committees, debtor-in-possession lenders, secured and unsecured creditors, and Chapter 7 trustees.
We also represent parties in receiverships, secured lenders, borrowers, creditors, acquirors, and other parties in restructuring and workout transactions. Our team also works closely with clients in bankruptcy litigation, including preference and avoidance matters, non-dischargeability actions, fraudulent transfers, and appeals.
Chapter 7 Business Bankruptcy
For businesses that must cease operations and cut their debts, we recommend filing a chapter 7 business bankruptcy. During this process, the debtor company stops operations. An independent fiduciary or a bankruptcy trustee will be tasked to liquidate the assets of the company. The collected cash from the liquidation will be used to pay off creditors.
Chapter 11 Reorganization
A chapter 11 business bankruptcy proposes a plan of reorganization to ensure business continuity and debt fulfillment over time. In this scenario, the firm is given the chance to sell its assets without creditor, Marshal, or Sheriff interference. The existing management of the company retains its driver seat as debtor-in-possession management. The company can either reorganize through an orderly process or hold a bankruptcy sale for all its assets.
How to Declare and File for Bankruptcy
The first step to filing for bankruptcy is to consult with a bankruptcy lawyer. An initial discussion will enable businesses to determine the chapter of bankruptcy that aligns with their needs.
An attorney will also help you examine even your non-bankruptcy options, and guide you towards making the right decision. Once you’ve chosen an option, your lawyer will provide a list of documents required for the procedure.
At Mcallister Garfield, we offer a range of payment plans based on your specific situation. Once you have gathered all the required documentation, your forms will be prepared. You will be given time to review and sign them before officially filing your case.
As your attorneys, we will be present throughout the entire bankruptcy discharge process. We’ll accompany you to court, protect your best interests throughout, and ensure a stress-free experience for everyone involved. Unlike other firms, you can still count on us for expert business counsel even after your case has been closed.
Bankruptcy Attorneys at Your Service
Bankruptcy is often a complex and stressful process. You deserve a lawyer with a wealth of expertise in both complex and simple bankruptcy filings.
Since 2009, McAllister Garfield has provided peace of mind for businesses in Colorado, California, Michigan and Oregon. We’re committed to helping clients retain their assets, overcome financial hurdles, and enjoy life again.
We understand that bankruptcy cases involve unique nuances and time constraints. For this reason, we strive to deliver highly personalized solutions on time and within your budget.
With our extensive legal knowledge and experience, expect maximum protection from debt collectors and creditors. We’ll also do everything we can to help you avoid foreclosure and stop your wages from being garnished.
Our hands-on team of attorneys will give you an honest evaluation of your finances and help you determine the right option for you. We’ll also be upfront about pricing and ensure you get through the entire process without any issues.
Our firm truly cares about its clients and always aims for the smoothest resolution possible. With a strong reputation and a proven track record advising businesses of all forms and sizes, you can trust us to deliver the highest quality legal support no matter your situation.