Creditor/Debtor Rights

Sometimes a business is faced with the need to file bankruptcy or with being an unwilling participant in the bankruptcy. Gleissner law can assist with:

The need to file bankruptcy

• Assisting in pre-bankruptcy planning and negotiations.
• A determination of what bankruptcy chapter is best for the client, whether Chapter 7 liquidation or a Chapter 11 reorganization.
• The bankruptcy filing itself and the representation of the business through the bankruptcy process.

An unwilling participant in a bankruptcy

Different types of bankruptcy case different types of problems for a business, including the bankruptcy of:

• a vendor — an examination of supply decisions, executive contracts, and the location of alternative suppliers
• a customer — an examination of whether the client is a critical supplier for the customer, whether the business needs extra protection in a bankruptcy of a customer, an examination of executory contracts
• a landlord — an examination of whether the landlord is offering adequate assurance of future performance and whether the business needs can be addressed in the landlord’s bankruptcy.
• a tenant — an examination of the executive contract with the tenant, the negotiation of adequate assurance and rental payments during the bankruptcy.
• someone else that is involved with the business, like a co-owner of the business, or an employee of the business.

Each type of bankruptcy calls upon the need for an examination and the use of techniques and tools for addressing the different problems that will be faced in the various situations.