The experienced professionals at Robleto Kuruce employ a variety of creative solutions to combat financial distress, taking a holistic view of the circumstances of each case. While we do a considerable amount of work in bankruptcy court, we recognize that a bankruptcy filing is an extraordinary measure, and it isn’t appropriate in all cases. We make certain that our commercial and consumer clients understand the potential impact of bankruptcy long before submitting a petition for relief, and we explain non-bankruptcy solutions to financial distress when they are available.
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 reorganization bankruptcy, executives may find that case imposes new demands on their time. 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 provides breathing room to a business and permits a certain degree of flexibility, but it also imposes new administrative obligations.
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.