Business Bankruptcy Solutions

The Business Bankruptcy attorneys at ABL: Bankruptcy will craft a business bankruptcy solution tailored to your situation.

No two businesses are alike, so it would make sense then that no two business bankruptcy solutions would be identical.

In fact, the only business bankruptcy solution that makes sense for any business is a solution that is reached only after thorough analysis and planning and extensive discussions with the business owners/principals.

Under such a scenario, the experienced Business Bankruptcy Attorneys at ABL: Bankruptcy can craft a pre- and post- filing strategy that is specifically aimed at the clients’ objectives and designed to avoid the risks and pitfalls foreseen by the attorney. As a general rule, our Bankruptcy Lawyers stress the importance of seeking resolutions outside of litigation and bankruptcy whenever possible.

“The only cheap litigation is the one that never happens.”

While our litigation attorneys are geared-up day and night for full blown litigation, our bankruptcy attorneys are only too aware of the costs associated with litigation. While bankruptcy is not generally as expensive as litigation, any unnecessary bankruptcy filing is certainly an unnecessary cost for a business. Thus, when clients meet with our bankruptcy attorneys to discuss creditor workouts and to evaluate bankruptcy, the conversation is always steered towards pursuing creditor workouts or other alternatives unless and until the pursuit is absolutely certain to not bear fruit.

The discussion of business bankruptcy begins with uncovering the clients’ objectives.

Most simply, if the client desires to keep the business operating as a going concern and there is sufficient cash flows to reasonably fund a plan of reorganization, then that client would likely be queued up for a Chapter 11 Reorganization.

On the other hand, if the clients’ objective is to simply sell the business assets in a manner which maximizes the resulting proceeds, then that client would likely be a candidate for a Chapter 11 Reorganization, which would be based upon a plan of orderly liquidation of business assets.

In some instances, a client may simply want to shut the doors of the business and get out from underneath the mounting debt obligations of the business. In that case, the client may be directed to evaluate the risks and benefits of a state law dissolution of the business or a Chapter 7 Bankruptcy for the business.

In any event, the experienced Business Bankruptcy Attorneys at ABL: Bankruptcy will help evaluate your concerns and will strive to understand your business so that we can craft the best possible bankruptcy or non-bankruptcy solution for your objectives.

Why Would a Business Pursue a Bankruptcy?

The most commonly cited reasons for meeting with our attorneys to discuss business bankruptcy solutions are:

  1. Dispute with Secured Creditors, such as a bank or equipment vendors.
  2. Trade debts that are spiraling out of control.
  3. High-stakes litigation, as discussed, there are generally no “winners” in full-blown high stakes litigation because even the winner will likely suffer the harms of extensive legal fees, lost time, headache, and risk.
  4. Judgments in other jurisdictions, some businesses fall prey to predatory business vendors and lending and quite a few have suffered through out-of-state litigation or, even worse, out-of-state judgments that are then domesticated and used to extort funds from the local business.
  5. Change in business climate or circumstances, such as the numerous real estate development and related companies for which our superior Business Bankruptcy Attorneys have had the honor and privilege of serving in the capacity of Business Bankruptcy Counsel to better their situations.
  6. Inability to access capital to satisfy short-term obligations, which is relatively common now that banks are protecting their cash reserves in the same way as Fort Knox. If your business simply has a short-term cash flow problem, our attorneys can craft a Business Bankruptcy Solution that will serve as bridge to obtain short-term financing.
  7. Accruing tax debts, especially when the taxes accruing are payroll (941) taxes. The inability to satisfy current tax obligations is sign of greater business stresses and should be evaluated and repaired as soon as possible, so that the principals of the business are themselves not saddled with the burden of 941 Trust Fund penalties.
  8. Changes in terms of contracts or leases which are unbearable for the business. As a Business Bankruptcy expert, ABL can advise you on if and when you can reject or modify certain offending contracts or leases to better the position of your business.
  9. Disputes with other parties, such as when your business is owed significant funds from another party but prior to the initiation of litigation. The worst type of litigation is that which is incredibly expensive and results in a judgment that is unenforceable against the Defendant, because it has either ceased operations or is otherwise insolvent. If your business is facing such a situation, our experienced Business Bankruptcy Attorneys can help you craft a plan to evaluate the prospects of recovering proceeds from litigation while also creating a backup plan that involves bankruptcy or non-bankruptcy business solutions.

No matter what your concern, the business bankruptcy attorneys at ABL: Bankruptcy are the best Albuquerque has to offer and our attorneys are available to meet with you to understand your concerns and evaluate possible bankruptcy or non-bankruptcy solutions for your objectives.

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