BANKRUPTCY

The Gohari Legal Group is well-versed in navigating through the difficulties and complexities raised by financially troubled, insolvent, and bankrupt companies. This deep breadth of experience provides our clients with the highest level of efficient and effective representation.

Chapter 7

We have counseled management of financially troubled public and private companies on strategic alternatives for recapitalization and their corporate duties. We are experienced in developing and executing comprehensive bankruptcy strategies, including pre-packaged chapter 11 proceedings. With the firm’s considerable contacts in the private equity, hedge fund, and asset-based lending communities, we have successfully assisted clients in placing capital infusions into distressed companies, as well as debtor-in-possession and exit financing.

We counsel creditors on how to achieve maximum return from a financially troubled or insolvent company, including counseling on the claims process, plan confirmation, and contract rejection and assumption actions against the corporate debtor.

Our bankruptcy litigation experience includes significant representations of corporate debtors, trustees, secured creditors, unsecured creditors, partners, shareholders, and former insiders.

Important Aspects of Chapter 7

  • Do you satisfy the necessary Means Test?

  • Allows individuals to wipe out many types of unsecured debt.

  • Chapter 7 bankruptcy filing process takes about four to six months.

  • Credit counseling is required and must be approved by US Trustee.

  • Mortgages, car payments, child support, spousal support are examples of debt that are not discharged.

Chapter 13

We offer our clients representation and counseling in all areas of restructuring and bankruptcy law, including the following:

  • lift stay motions
  • reclamation
  • debtor-in-possession financing
  • asset sales
  • plan negotiation, voting and confirmation
  • fund formation
  • investment
  • leasing and management
  • sale-leaseback
  • securitization workouts, restructurings, distressed assets and special situation transactions
  • claim objection proceedings
  • preference and fraudulent transfer litigation
  • fiduciary litigation
  • lender liability
  • creditors’ committee representation
  • creditor’s rights
  • receiverships
  • insolvency analysis
  • debt restructurings and workouts
  • director and officer duties and responsibilities
  • exit financing

Basic Chapter 13 Process

  • File for Chapter 13 Bankruptcy

  • Automatic stay takes effect, creditors are bared from taking actions to collect

  • Court appoints trustee to oversee the bankruptcy

  • Everyone gets informed of your Chapter 13 filing

  • Begin making payments under your repayment plan

  • Confirmation hearing to address any objections

  • Complete a course in personal financial management

  • Court grants discharge if payment plan is completed

Bankruptcy Litigation

Creditor Representation in Bankruptcy

If a debtor of yours has filed for bankruptcy, The Gohari Legal Group can help you file the necessary documents, such as the proof of claim, obtain relief from the automatic stay, file a complaint objecting to the discharge or exempting a debt from discharge, object to plans and negotiate settlement with the debtor.

Once a debtor has filed a bankruptcy petition, the creditors are expected to abide by the applicable laws, and any and all collection efforts must stop. As a creditor, it is important that you contact a competent bankruptcy attorney as soon as you receive notice, so that you do not violate any of these laws and are able to meet important deadlines. Bankruptcy operates on a strict timeline and creditors often lose their rights for failing to take action within the prescribed time.


Creditors’ Rights
Businesses are impacted significantly when their customers fail to satisfy their financial obligations in a timely manner. If you are having difficulty collecting money or believe a debtor has filed for bankruptcy, you should seek the advice of an experienced creditors’ rights attorney. The Gohari Legal Group recognizes the importance of resolving disputes between creditors and debtors in a timely, cost-effective manner. These cases vary greatly depending on whether the creditor is secured or unsecured, and the nature of the financial obligation. We apply a thorough, detail-oriented approach to each case to determine the best course of action; exploring the legal options available while protecting your legal and financial interests.

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