Sometimes businesses need relief that can only be provided by a bankruptcy court. Filing for bankruptcy can often buy the time necessary to save the business by restructuring debt or selling all or part of the company. Creditors are often frustrated when businesses or individuals who owe them substantial debts resort to the bankruptcy process. Hiersche, Hayward, Drakeley & Urbach P.C. has the experience and courtroom skills to guide clients through the often confusing bankruptcy process, whether the client is a debtor or a creditor.
The firm’s representation of debtors focuses primarily on financially distressed small-to medium-sized businesses which may be owned by individuals, partnerships or corporations. We counsel our business clients on the debtor side to avoid the expense and uncertainty of a bankruptcy filing if at all possible. However, when all else fails and when there is a reasonable chance to obtain court approval of restructuring debt or allowing for an orderly marketing/sales effort necessary to save the business or to maximize the value of its assets, our law firm assists with the planning and guides and executes the client’s plan.
We assist creditor clients in attempting to resolve matters without litigation, but when a debtor resorts to a bankruptcy filing we are prepared. Our representation of debtors in other cases is an advantage for our creditor clients. We know what debtors are trying to accomplish and are able to effectively counter their objectives if they are not in the best interest of our creditor clients. We focus on determining all of the most effective and economical strategies to realize on the collateral for secured lenders and to maximize recoveries and minimize losses for all of our creditor clients.
We also have represented trustees and creditor committees in larger Chapter 11 cases. While our practice is primarily in Dallas and in the State of Texas, our attorneys have appeared in state and federal courts and bankruptcy courts throughout the United States, including Delaware where many large bankruptcy cases are filed.
Matters in which the firm represents clients in the bankruptcy process include the following:
- Reclamation actions
- Administrative claims and other types of claims
- Objections to exemptions
- Objections to discharge of debts
- Preferential and fraudulent transfers
- Determining the validity, extent and priority of liens
- Sale of estate property free and clear of claims
- Rejection or assumption of executory contracts and leases
- Treatment under plans of reorganization
- Valuation and use of cash collateral
- Attempting to lift the automatic stay or defending lifting of the automatic stay against foreclosure of property or pursuing lawsuits
- Taking and defending depositions under Bankruptcy Rule 2004
- Bankruptcy Appeals
Commercial bankruptcy proceedings frequently involve other areas of corporate, business and financial law. HHDU’s bankruptcy attorneys collaborate with the firms’ other lawyers who have experience in corporate, finance, real estate, employment and tax areas of law.
Additionally, since the firm’s bankruptcy attorneys are also business litigators they possess the knowledge and skill to handle all bankruptcy matters without the need for additional trial counsel. Our wide range of practices provides a comprehensive perspective for bankruptcy and debtor/creditor matters, while our small size allows us to provide responsive, client-focused representation in the most economical manner.