Brown McCarroll Attorneys at Law

The best course of action for creditors and debtors may be the same for both parties or it may be different depending on the situation. In either case both parties should seek counsel to represent their interests and explain the various options available.

Creditors

When a debtor faces default we help creditors decide whether to renegotiate the terms of a loan or vigorously enforce them to bring about a bankruptcy filing. Is a reorganization, out-of-court restructuring or liquidation the best option for you?

Creditors rely on us to protect secured claims or realize maximum settlement on unsecured claims, so they are not tied up in long, drawn-out disputes.

Financial institution clients look to us as strategic advisors who can develop the critical game plan:

• Negotiate and document restructurings
• Assist with operating and management audits
• Advise on bankruptcy and disposition issues
• Help avoid delays and preserve asset value
• Structure transactions

If litigation is necessary, we can represent creditors in avoidance actions brought by debtors and trustees, including preference and fraudulent transfer claims.

Our firm also has strong experience working with the banking and financial services industry in areas that include and go beyond bankruptcy-related matters.

Debtors

Debtors seek our guidance on the best course to make it through their financially distressed situation. If seeking relief through the bankruptcy code is the most viable option, we weigh the options and recommend the best choice between reorganization or the sale of assets.

We advise debtor clients on such issues as securing temporary bridge loans, renegotiation of vendor and customer agreements, negotiation of forbearance agreements, interest rate restructurings, debtor-in-possession financing and personal guarantees.

While reorganization or asset sales proceed, we can help protect our clients in preference and fraudulent transfer defense litigation.

Creditors Committee and Equity Committee

Our attorneys also advise official and ad hoc creditor and equity committees on a broad spectrum of issues and have the experience and knowledge to obtain the best possible results for those constituencies.

Debtor-in-Possession – Lenders and Debtors          

In most Chapter 11 cases the debtor continues to operate the business as a debtor-in-possession (DIP). When the DIP requires financing, our attorneys can help negotiate and prepare documentation on behalf of the lender or debtor.          

Trustees

When a special trustee is appointed to operate a company or pursue litigation in bankruptcy we can help advise him or her through the process.