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Chapter 11 assessment merits close look at other options as well

Some law firms hold themselves out as deeply skilled in the counsel they provide business clients concerning Chapter 11 corporate bankruptcy, when in fact they don't have a particularly strong focus on that practice area.

Candidly, it is all about focus and demonstrated experience when it comes to effective legal guidance and representation for commercial clients who raise questions and concerns regarding Chapter 11 bankruptcy.

For starters, although a Chapter 11 filing might be an option in a given case, it might not be the best strategy to pursue. As we note on our website at the established business law firm of Rich Michaelson Magaliff Moser, LLP, in Manhattan, Chapter 11 "is not always the only option to businesses and should not be the first alternative."

It takes lawyers who routinely work diligently on behalf of diverse clients with complex debt-related concerns to fully appreciate that and respond accordingly.

In fact, discussion of Chapter 11 necessarily entails a full and careful deliberation of other bankruptcy options and nonjudicial strategies that might promote optimal solutions for a corporate client.

And that is true whether a concerned party is a debtor, creditor or trustee. At our firm, we stand ready to serve all those clients, providing counsel that is tailored to their unique needs.

When Chapter 11 becomes a preferred business strategy, it can be a powerful tool for helping a commercial entity restructure or close down operations. A proven bankruptcy attorney can provide further information.

We wish all our readers and valued clients a happy Thanksgiving holiday.

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