Bankruptcy Planning & Asset Protection
These are difficult times to do business. In running a businesses have contracts, agreements, deliverables, payables and receivables and payrolls. Responsible businesses all over are assessing how to meet their obligations during times when others may be unable to meet obligations to them. Difficult choices need to be made and the cascading effect of liabilities unanswered and debts unpaid leave many in the position of making tough choices to save their businesses, customers, clients, and jobs, and to survive this pandemic.When you can use help to renegotiate and navigate this new world, responsible leadership calls for help to work out realistic plans that account for timing, all aid and all resources.
When plans seem too great to manage, as they may be for many, consideration of bankruptcy protection becomes a natural course. The filing of a bankruptcy petition automatically may stay or stop most claims and actions against your business or you. Bankruptcy has a chapter 7 and a chapter 11, each with its own difficulties and opportunities. Under chapter 7 you would engage in turning over assets to creditors for disposition in an orderly fashion in the reasonable course. Chapter 11 would be an option when people and businesses see opportunity to survive if able to postpone, reduce or renegotiate debts, contracts and performance, while the bankrupt estate seeks to regroup.
When turning to help to renegotiate important transactions, whether considering the bankruptcy option or not, we suggest you turn to those who can help present strength and diplomacy with experience. Turn to someone who has handled the most complicated to the most simple bankruptcy matter and who was trial counsel in two of the most important bankruptcy jurisdiction cases decided by the Supreme Court of the United States, Marshall v. Marshall and Stern v Marshall (also known as the Anna Nicole Smith case).The Boesch Law Group has that strength and experience. These cases claim precedent over which disputes can be and must be decided in bankruptcy court, and when a creditor or bankrupt debtor can exit the bankruptcy court to proceed in state court or probate court, and when others may proceed in state court or probate court. Whether you are a creditor or debtor, the complexities of bankruptcy and whether a particular issue is “core” to the bankruptcy case or “non-core,” can often be the difference between success and failure. Know what you are doing. Contact the Boesch Law Group for a consultation.