Bankruptcy

Creditor Representation

To a lender, a bankruptcy filing by a borrower or other obligor can be very frustrating.  Business is disrupted, creditors, suppliers, and customers are often left holding the bag, late fees and interest accumulate, and the lender’s hands are seemingly tied.  At Chester Jennings & Smith, LLC, we represent creditors’ rights and understand these frustrations.  We ensure that your rights as a creditor are articulated, advanced and enforced.

Our attorneys have represented creditors in all forms of bankruptcy proceedings, including Chapter 11 reorganizations, Chapter 7 liquidations, and Chapter 13 filings.  We have recognized expertise advising secured parties and institutional lenders who provide debtor-in-possession financing to, or the use of cash collateral by, Chapter 11 debtors. Our attorneys have negotiated and prepared the necessary documentation for debtor-in-possession financing transactions for numerous creditor clients.  Our representation also includes the following:

  • Negotiating and drafting carve-outs and interim financing agreements;
  • Filing proofs of claim to protect a creditor’s interest;
  • Obtaining relief from the automatic stay to enable a lender to take back collateral;
  • Reviewing and voting on a debtor’s Chapter 11 or 13 Plan;
  • Commencing and pursuing adversary proceedings to enforce a creditor’s rights;
  • Objecting to a debtor’s discharge or the dischargeability of a lender’s claim;
  • Representing a creditor in an unsecured creditors’ committee or other statutory committees; and
  • Representing defendants in preference or other avoidance actions.

DEBTOR REPRESENTATION

Chester Jennings & Smith, LLC has the depth and experience to serve as lead counsel to a company in all aspects of a Chapter 11 case.  From consulting with financially troubled companies prior to bankruptcy to successfully steering a client through the bankruptcy process, the firm offers comprehensive counsel to clients regarding their available restructuring alternatives. We assist clients in assessing the full range of restructuring options available to them, taking into account each company’s unique financial and market circumstances. These options may include pursuing an out-of-court restructuring, a restructuring of the debtor’s business through a Chapter 11 plan of reorganization, or a going-concern sale pursuant to section 363 of the Bankruptcy Code. Our attorneys have extensive experience in implementing each of these restructuring alternatives, including reorganizations accomplished through the implementation of a prearranged or prepackaged Chapter 11 plan.

ASSET PURCHASES IN BANKRUPTCY

Chester Jennings & Smith, LLC also has extensive experience in representing all types of parties in major Chapter 11 cases, including prospective purchasers.  We regularly represent potential buyers interested in acquiring assets from a debtor through a Chapter 11 or Chapter 7 sale process. These types of representations include providing guidance in evaluating and acquiring assets from bankruptcy estates and distressed businesses, either through straightforward sales transactions or through a Chapter 11 plan.

BANKRUPTCY LITIGATION

Attorneys at Chester Jennings & Smith, LLC are litigators who stand ready to work on contested matters in Chapter 11 cases.  As bankruptcy counsel, we will vigorously challenge disputed claims and prosecute adversary proceedings.  We also represent defendants sued in adversary proceedings and have extensive experience in handling avoidance actions such as preferences and fraudulent conveyance actions.