Bankruptcy

 

Turbulent financial times call for a calm voice and a reasoned approach. We help individuals and businesses file for bankruptcy protection as provided under the United States Bankruptcy Code. Our goal for our consumer bankruptcy clients is to help them obtain a meaningful fresh financial start. Our goal for our business clients is to help them obtain the financial breathing space to reorganize into a leaner, viable, ongoing concern.

 

Individuals: Fresh Financial Start

We understand how daunting the prospect of filing bankruptcy can be. You may be concerned about the stigma attached to bankruptcy or what it means for your credit future. We can help. If you are facing foreclosure, wage garnishments, harassing creditor calls, or are just overwhelmed with debt, we understand what you are going through. You may be eligible to file for protection of the Bankruptcy laws. We can advise you about your rights, the options available to you and every phase of the bankruptcy process from beginning to end.
 

Our initial consultation is always free. We know how the law works, what it can (and cannot) do, and what options exist for individuals experiencing financial distress. During our first meeting, we will explain the basics of bankruptcy, including the differences between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy, as well as alternative measures for managing debt, and will discuss options available for your particular situation. We give each client individualized, personal attention during the entire bankruptcy process.

 

Companies: Reorganization or Liquidation

Every business contends with uncertainty, including the possibility that its cash flow may become inadequate to meet its financial obligations. When this occurs or seems imminent, reorganization provides a means to achieve the best business result that circumstances allow. Chapter 11 of the Bankruptcy Code gives financially distressed individuals and companies a chance to reorganize their financial affairs under the supervision of the Bankruptcy Court. Whether through an out-of-court workout or a court-supervised bankruptcy, these matters involve complex interplay between the interests of different constituencies. Bankruptcy attorneys must understand a client’s business objectives and how the objectives of other parties and the constraints imposed by the current circumstances are likely to affect the resolution of the matter. In a Chapter 11 case, the debtor has the right to propose a plan for dealing with its debts for consideration by the creditors and bankruptcy court. We represent debtors in Chapter 11 reorganizations and are experienced in all phases of Chapter 11 proceedings.  We work with clients and financial advisors to put together the best, most viable reorganization plan possible for the client, and negotiate with creditors and creditors’ committees to reach consensus on plan issues.  

 

When reorganization is not possible or advisable, corporate liquidation through Chapter 7 bankruptcy is an effective way to minimize the risks and burdens associated with a failing business. There may also be other choices, such as receivership or liquidation pursuant to state law, for companies experiencing cash flow problems. We represent clients in a wide range of situations where companies are no longer profitable, help business owners choose the best financial options for their circumstances, and guide them through every phase of the process.

 

Bankruptcy Litigation/Adversary Proceedings

Our attorneys strive to resolve issues without having to resort to litigation and are adept at developing effective reorganization and liquidation plans, but we develop and execute legal strategies always aware of and prepared for the possibility of litigation. We represent clients in contested confirmation hearings, creditors' rights claims (such as commercial collections and mechanics' lien enforcement), claims disputes, challenges to the automatic stay, preference actions, fraudulent transfers and other litigation in the Bankruptcy Court. We understand that litigation is not the end itself in the bankruptcy context, but that it is sometimes a necessary means to resolving underlying disputes in the most favorable way for our clients given the economic and legal constraints involved.

 

 

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Cross Nadel LLC

1327 SE Tacoma Street 

No. 141

Portland, OR 97202

Tel:  503-303-8472 

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© 2016-2020 by Cross Nadel LLC.  All rights reserved. Legal Disclaimer.​