At Robleto Kuruce, we take a holistic view of our clients’ financial condition and, while we do a considerable amount of work in bankruptcy court, we recognize that seeking protection under the United States Bankruptcy Code is an extraordinary measure that is not appropriate in all cases. We make certain that our clients understand the potential impact of a bankruptcy filing long before seeking a petition for relief and we help them to consider non-bankruptcy solutions to financial distress. Often bankruptcy is the best path forward for our clients but, when a bankruptcy case would not produce optimal results, the experienced insolvency professionals at Robleto Kuruce are prepared with other creative solutions.
For commercial clients, a chapter 11 bankruptcy case can have a substantial impact on the day-to-day operations of the business. Particularly in the early stages of a case, executives often find that those cases demand their attention for several hours each day. Beyond that, a business enterprise must carefully control the optics of a reorganizational bankruptcy. Customers, vendors and business partners often need assurances that the business will remain a going concern into the future. A chapter 11 bankruptcy filing does provide a debtor with breathing room and permits a certain degree of flexibility that may not be otherwise available.
In many cases, both creditors and debtors may benefit from an agreement outside of bankruptcy. Creditors and other interested parties can be made to understand the position of a financially distressed individual or business as well as what a bankruptcy filing could do to their own claims. Debt workouts come in many forms and are the product of honest and effective negotiation. In some instances, extended payment terms, reduced interest rates, increased access to credit or reductions of indebtedness can mean the difference between life and death for a business. Your best opportunity for a successful debt workout may depend upon selecting effective legal counsel that can make your case to creditors.