Reorganizing with an eye on the future
When a business faces financial difficulty, it affects more than just the business; it affects the lives of the people who work there and the community in which those people live.
For many companies, filing Chapter 11 is the best way to keep their business in business and keep the community vital and healthy. Chapter 11, or “reorganization,” enables the business to continue to operate in order to repay creditors and recover from debt.
Wood & Lamping provides counsel and representation to all size businesses facing Chapter 11, from sole proprietorship's, to small, medium and family-owned businesses (a niche specialty) to large corporations. We take a thorough look at the condition of the business and its debt situation to determine if filing bankruptcy is the best option and more importantly, the probability of Chapter 11 success.
As one of only two law firms in Cincinnati with a panel trustee on staff, Wood & Lamping is particularly outstanding at helping businesses find creative solutions for managing and recovering from debt. Attorney Henry ‘Hank’ Menninger in particular, provides a unique viewpoint to bankruptcy matters because he understands both creditor and debtor perspectives and can offer neutral yet fair third-party advice.
Our goal is to help a business reorganize in the most efficient and most cost-effective way possible, so the business can emerge from Chapter 11 with a reduced debt load or be in an optimal position to be sold.
Wood & Lamping’s Chapter 11 legal services include (but are not limited to):
- Determination of eligibility to file Chapter 11
- Assistance in compiling required documentation
- Filing of necessary paperwork
- Negotiation and litigation
- Garnishment and attachment of assets
- Foreclosure of liens
Wood and Lamping also provides assistance to creditors with out-of-court workout and restructuring arrangements with an eye toward the securing of repayment of debt while avoiding lender liability claims and lien avoidance problems in the event of a later bankruptcy.