The commercial law practice at Kozloff Stoudt has played a key role in advising debtors and creditors. Our extensive experience in business workouts, complex reorganizations and bankruptcy proceedings enables us to provide valuable legal counsel to clients regarding creditor and debtor relations.
Our goal is to diagnose our client’s problems, recommend solutions and develop strategies that enable our clients to weather current problems and avoid future ones. For clients facing financial problems, we counsel on the benefits of workouts, refinancing, liquidations,forbearance agreements and other non-judicial strategies to avoid the need for costly and time-consuming court restructuring. We have advised business clients from a broad range of industries, and understand how to provide cost-effective services to clients of all sizes.
Navigating Creditors through Bankruptcies and Workouts
Many of our clients need advice on a regular basis about how to respond to the business problems of their customers and suppliers. If a client receives notice of a bankruptcy case or merely feels insecure about the financial stability of another business, our attorneys will review all available alternatives. This may include repossession of collateral, reclamation of goods sold, stoppage in transit, obtaining a receiver, foreclosure of real estate, secured party sales, acquisition of the troubled business, filing of liens, or obtaining letters of credit. We also assist our clients in responding to preference claims and other bankruptcy litigation.
Representing Secured Creditors
Our lawyers have acted as counsel to secured lenders and other secured creditors in bankruptcy cases throughout Pennsylvania. Also, our business and litigation lawyer’s work collaboratively to provide creative and effective solutions to protect the interests of secured creditors.
Acquisitions out of bankruptcy
The financial distress of one business is often an opportunity for another business. We have helped buyers acquire financially distressed companies, with or without court proceedings. There are many pitfalls of acquiring assets in distressed situations and our lawyers provide effective strategy and advice.
Litigation in Bankruptcy Court
Should a bankruptcy case or other court proceeding commence, we turn to our litigators to suggest court strategies for achieving our clients’ objectives. Immediate intervention can often prevent assets from disappearing, compel delivery of needed goods to complete a job, restrain parties from taking actions which might seriously damage a client’s business, obtain possession of collateral to maximize recovery, or protect a client from the judicial or non-judicial actions of others.