Bankruptcy is a legal procedure initiated by an individual or a business that cannot pay their debts and seeks to have the debts discharged or reorganized by the courts. The three most common types of bankruptcy proceedings are Chapter 7 individual petitions, Chapter 11 business reorganization and rehabilitation petitions, and Chapter 13 wage earners’ plans.
At Nauman Smith, we recognize that filing for bankruptcy and dealing with the challenges on both the debtor and creditor side of the law can be extremely taxing on all businesses and individuals involved. We approach each of our clients with professionalism and humanity and strive to be a pillar of excellence to support them through the process from beginning to end.
Our full range of bankruptcy services include:
- Representation of creditors and debtors in Chapters 7, 11, and 13 cases
- Counsel to creditors committees, committee members, and purchasers of assets from bankruptcy estates
- Advising as to non-bankruptcy reorganization alternatives including loan workout agreements, compositions and forbearances
Our full range of business services include:
- Entity and domicile selection for corporations and partnerships
- Preparation of shareholder, buy-sell, and noncompetition agreements
- Acquisition or sale of businesses and merger agreements