Detroit Business Bankruptcy Lawyer
The bankruptcy and restructuring practice at Butzel Long is among the most respected in the area. Members of this practice group are recognized as leaders in the field of business and corporate bankruptcy. Each Detroit business bankruptcy lawyer within the bankruptcy and restructuring practice strives to provide a proactive, business-oriented approach to finding innovative solutions to complicated problems. Our representations have included virtually every aspect of in-court and out-of-court restructurings. Butzel Long’s Detroit business bankruptcy attorneys have helped debtors, creditors, official and unofficial creditor and equity holder committees, and acquirers.
Detroit Corporate Bankruptcy Attorney in Wayne County, Michigan
Because of our vast experience representing such a broad variety of stakeholders, our Detroit corporate bankruptcy attorneys understand the central strategic and tactical issues and interests that may be involved in a bankruptcy or restructuring. Members of the corporate bankruptcy team know how to manage the very diverse interests for the benefit of their clients.
Our Detroit corporate bankruptcy lawyers represent clients in a variety of business and corporate bankruptcy matters, including:
- Bankruptcy Chapter 7
- Bankruptcy Chapter 11
- Bankruptcy Chapter 13
- Bankruptcy Fraud
- Business Bankruptcy
- Corporate Bankruptcy
- Protection of Assets
- Reorganization Plans
Our firm’s Detroit business bankruptcy lawyers have experience pursuing appeals from Bankruptcy Court to the Sixth Circuit and Federal District Court and have handled cases in the Michigan Appellate Courts. Our Detroit corporate bankruptcy attorneys have also handled bankruptcy matters throughout the country, including New York, Delaware, Texas, Illinois, Indiana, Ohio, North and South Carolina and Michigan.
Experienced Detroit Business Bankruptcy Lawyer
When filing for bankruptcy, a business or corporate client has the option to choose between three types of bankruptcies depending on its business form. These options are usually categorized as either liquidations or reorganizations, depending on the type of bankruptcy that is filed.
Chapter 7 bankruptcy is designed to liquidate a business’s assets in order to distribute them to creditors. This type of bankruptcy is appropriate when restructuring the debts of a business is not an option, when no substantial assets are available, and when the business lacks a future. Chapter 11 bankruptcy allows a corporation or partnership to restructure its finances through a reorganization plan and continue operating. The reorganization plan details how outstanding debts will be repaid over time. Chapter 13 bankruptcy usually involves a sole proprietorship and allows a business to develop a reorganization plan based on income, expenses, and type of debt.
Before filing for business bankruptcy, it is important to consult with a Detroit business bankruptcy lawyer to discuss which option is most beneficial to your organization.
Detroit Business Bankruptcy Law Firm
Butzel Long attorneys emphasize creative and realistic approaches that are specifically structured to achieve each client’s goals. Our Detroit business bankruptcy lawyers work to reach these ends by involving our capable support staff, as well as attorneys in other practice areas, such as tax, complex commercial litigation, labor and employment, immigration, SEC enforcement, real estate, and intellectual property, to name a few. By working together with the right team, our clients are able to achieve their restructuring goals efficiently and cost-effectively while enjoying the responsive and personal service upon which Butzel Long prides itself.
For more information regarding bankruptcy law, contact a Detroit business bankruptcy attorney at Butzel Long.