Cohen and Wolf's Bankruptcy Group represents both secured and unsecured creditors and debtors in bankruptcy, reorganization, workout matters and advocacy proceedings. Our experienced attorneys draw upon the resources of the firm's Business & Corporate, Tax, Employment, Real Estate and Municipal Groups on client matters.
Distressed business environments present the opportunity for creative and strategic solutions. Our approach is to help clients evaluate their options and develop the best strategy to achieve a successful, cost-effective outcome.
The Group advises individuals and businesses on Chapter 7 filings (liquidation) which involve the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Filing Chapter 7 helps individuals regain firm financial footing by eliminating non-secured debt such as medical bills or credit-card bills.
The Bankruptcy Group represents companies of all sizes under Chapters 11, 12 and 13 which involve reorganization of the debtor's business to allow the use of future earnings to pay off creditors and provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his/her assets among his/her creditors. A Chapter 13 bankruptcy or individual reorganization is used to avoid home foreclosures and tax levies.
The Bankruptcy Group works closely with attorneys in the Real Estate Group, who assist real estate investors, asset managers and lenders in working out troubled real estate assets. The firm also has significant experience with short sales and foreclosure avoidance.
The firm is often called upon to act as local counsel by some of the country's foremost law firms on matters in Connecticut courts.