Business Insolvency, Workouts and Ch. 11 Reorganizations

The lawyers at Schuh & Goldberg, LLP, really enjoy the practice of consulting with businesses under financial distress. It is not always necessary to file a bankruptcy case to facilitate business reorganization. We can come up with creative ways to avoid it using liquidation analysis, friendly foreclosures, and a common sense approach. For example, in an out-of-bankruptcy workout situation, we can approach your creditors and can demonstrate to them with a full disclosure of your situation that they would receive a certain sum in a bankruptcy proceeding but that you are willing to pay something more than that in order to avoid the internal turmoil associated with the bankruptcy process.

We bring something to the table that not many others can – credibility. When Schuh & Goldberg, LLP delivers the message, the legal community knows that it’s the straight scoop.

Our reputation is our greatest asset!

If you’d like to discuss a 203 North LaSalle valuation, the status of the new-value exception to the absolute priority rule in the 6th Circuit, or the finer points of any Ch. 11 Individual or Small Business Reorganization, call John A. Schuh. 

John had a fun and very challenging Ch. 11 case for Northern Kentucky Professional Baseball, LLC (The Florence Freedom), a minor league baseball team playing in the Independent Frontier League. In less than 120 days, John was able to effectuate a sec. 363 sale of the team’s assets and confirm a liquidating plan under Ch. 11 that enabled the team to play minor league baseball in the 2005 season. There were multiple newspaper articles written about the case.

The market melt-downs and credit crisis permeating the country’s financial systems have placed John’s services in great demand by banks and financial institutions dealing with troubled loans as well as by bank customers who are being faced with banks and financial institutions unexpectedly reducing lines of credit or declaring loans in default by reference to breach of loan covenants in some cases where the business bank customer has never missed a payment.

Although John heads this division of the office, he has been working many of his cases with Joanna R. Wilson.  Joanna is the picture of a young energetic young woman and mother whose eagerness to practice law spells success.  Brian T. Goldberg is quiet, unassuming and efficient.  Bankruptcy was his favorite subject at UD Law School.  Matt Schuh brings a great personality to the table.  Any of the lawyers at Schuh & Goldberg, LLP will be happy to take your call.  There is no charge for an initial consultation.

Schuh & Goldberg, LLP can be tough and litigious if you want us to be but we believe that a more reasoned approach to work-outs starts with a view that when a business loan is in default, the business bank customer and the bank are not enemies, but rather are partners, both with a real and vested interest in seeing the debtor through distressed times.