Business Bankruptcy

Alzate Varley APC helps corporate, partnership and sole proprietorships assess their alternatives and make the wisest choice, often saving substantial legal fees or avoiding bankruptcy. For example, Chapter 7 bankruptcy is sometimes over-prescribed as the legal path in effecting a complete dissolution for a corporation. A chapter 7 corporate bankruptcy does not result in a discharge of the debt, and it not be be necessary. Often the concerned shareholder or officers, despite personal guarantees are already protected by their own personal business debt bankruptcy or via asset protection instruments.

Chapter 11 bankruptcy can be helpful in effecting a corporate reorganization, but if the creditors could have reached an agreement without bankruptcy, the corporation could have saved substantial time and legal fees. Our team prefers when possible to help inform and negotiate with the creditors so that all parties reach the same result without losing control to a Federal bankruptcy court. This can result in a substantial savings of legal fees and a faster solution for all parties. The best result when possible, is one where the creditors are partners in the re-emergence of the company with the aligned goal of corporate success. Attorneys may take an adversarial approach that can be unnecessarily counterproductive. Our team is comprised of attorneys and CPA’s and former corporate executives. Our approach differs from many law firms.