Commercial Bankruptcy Services
A bankruptcy filing involving a commercial loan can present unique challenges for a lender.
Helping you navigate the complexities of multiple liable parties on a commercial loan.
Questions can immediately arise about how a bankruptcy filing will impact your ability to continue collections against those parties and recover collateral. Commercial bankruptcy cases also present unique procedural hurdles that must be addressed to protect your rights and, without strict attention to the Bankruptcy Code and court deadlines, those rights can be forfeited. Our knowledgeable team of bankruptcy attorneys will counsel you on your options and guide you through the process.
Our Services Include
Analysis of the Case
At the outset of representation, your claim will be fully analyzed by a Weltman attorney to determine the best course of action to protect your interests, including your ability to continue with collections against non-bankrupt parties, how best to protect any collateral securing your loan and the appropriate claim to be filed in the bankruptcy.
Proof of Claim Filing and Maintenance
Filing deadlines are strict and must adhere to the official forms of the court. Failure to timely file a claim (or filing inaccurately) may invalidate your claim. Weltman can also monitor the case for payments, file lease rejection claims, transfers of claim, change of addresses, and notices of payment change.
Negotiation of Adequate Protection
As a secured creditor, you may be entitled to adequate protection in the form of monthly payments, or replacement liens to compensate you for the potential decrease in value of your collateral during the case. Weltman will work with you to secure the most advantageous payment stream for you during a commercial bankruptcy.
Lease Assumption or Rejection
Weltman will negotiate on your behalf for the assumption of your lease and for commencement of payments and a cure of arrears. If a lease is rejected, Weltman will address any claim you may have for lease rejection damages.
Relief From Automatic Stay
If a debtor fails to make payments to you on a secured loan, or if there is a lack of adequate protection, we will file a motion for relief from stay, which allows you to recover and sell your collateral or forces a cure of arrears by the borrower.
Plan Review & Objection
Whether your claim is secured by collateral, wholly unsecured, or based on a lease, Weltman will monitor for the filing of a Chapter 11 or 12 Plan of Reorganization and we will carefully review the proposed plan treatment and evaluate whether your rights are thoroughly protected. If the situation warrants, we will file a timely objection to the plan and/or attend a confirmation hearing to present our opposition to the court.
