Bankruptcy And Creditors' Rights

The Bankruptcy Code is a fundamental part of American law, authorized directly by the U.S. Constitution. For an individual or a distressed business, it can be the difference between personal stress, misery or the failure of their business and successfully overcoming financial hurdles or taking the business forward.

The attorneys at Steinhilber Swanson LLP know the bankruptcy laws of the U.S., with decades of experience working with clients at every level and all types of bankruptcy proceedings, and with individuals, family farmers and businesses. We understand the complexity of the Code, the Rules and the cases interpreting that material.

We understand financial stress, having dealt with thousands of clients over the years who have placed their trust in us to guide them through financial difficulties.

We strive to obtain solutions short of formal bankruptcy proceedings through financial analysis and negotiations with creditors. We work with your financial advisors to understand the situation or, when appropriate, draw from a pool of our own trusted financial analysts and turnaround specialists to glean the information we need to fund a solution to the problem.

If it becomes necessary to do so, we are well versed in formal bankruptcy proceedings.

Every day, we work on cases involving the trustees and judges of the Wisconsin bankruptcy districts, from simple Chapter 7 and 13 bankruptcies to complex Chapter 11 or 12 cases to appellate advocacy in the U.S. Court of Appeals for the 7th Circuit. This practical experience means we can help with your Chapter 7 filing or your businesses' complex reorganization within the strictures of a Chapter 11 filing.

Bankruptcy law protects both debtors and creditors. For individual debtors, the stress caused by creditor phone calls and demand letters can be intense. Wen your resources cannot meet your obligations, you need relief, and bankruptcy can offer a genuine and orderly means of settling these issues.

Our lawyers understand all of the technical complexities of the bankruptcy laws, as well as the human experience, owing to their experience working with hundreds of businesses and thousands of individuals during their decades of practice. We know for debtors, this is not your "best time" and this is where our experience and counsel can be especially valuable. We have seen what works and what does not work, how businesses can work through a successful Chapter 11 and how others fail. We offer the insight gained from our practical experience of working with many individuals and businesses throughout the bankruptcy process.

We never provide false hope. Our clients are paying for our advice and leadership, and we also know that there are times when non-bankruptcy solutions may offer the most cost-effective means to resolve financial distress. When a workout agreement is in your best interests, we will advise that strategy.

We assist with all types of bankruptcies, including:

· Business bankruptcies

· Consumer bankruptcies

· Agriculture bankruptcies

Protecting Creditors' Rights

On the creditor side of the table, when dealing with an individual or distressed business, it is important to prevent preferential transfers, fraudulent conveyances, or a rush by other creditors attempting to seize viable assets before the business fails. Bankruptcy brings order to this proceeding. Within the framework of Chapter 11 or for family farms, Chapter 12, it is a means of potentially reorganizing the finances of the entity to allow it to remain viable and enabling creditors to continue to receive payment on their debts, returning more of the debt than would be obtained by a liquidation.