Helping Creditors Obtain the Best Possible Resolution of Creditor Claims
For many years, McGill has been a trusted advisor to banks, lenders, lessors, contractors, and vendors on matters relating to the resolution of claims arising from defaults in payment or other contractual obligations. Our attorneys have extensive experience in obtaining swift and effective relief for creditors through a variety of actions including:
- Foreclosures on Deeds of Trust, Mortgages, or other Security Interests
- Recovery of Collateral for Secured Creditors and Possession of Property for Lessors
- Replevin Actions
- Pursuit and Enforcement of Money Judgments
McGill also understands that in some instances, the best possible resolution of a creditor’s claim may not be through a lawsuit or immediate action to recover collateral. Instead, it may be through settlements and workout with the defaulting party. McGill has substantial experience in successfully resolving debtor claims through negotiated settlements, including forbearance, restructure, or refinance agreements. These resolutions not only maximize the recovery on claims for our clients, but also avoid the time and expense of litigation or collection.
Pursuit and Defense of Creditors’ Rights in Bankruptcy
When a Debtor seeks relief from creditor claims by filing bankruptcy, a complex system of bankruptcy laws goes into effect which governs the rights and obligations of the debtor and creditors. As a result, creditors with significant claims or interests, including secured creditors and lessors, will greatly benefit from experienced and knowledgeable bankruptcy counsel who will ensure their rights are not prejudiced and help them recover the maximum amount on their claims. Our attorneys uniquely qualified and experienced to achieve these goals for our clients. Additionally, our attorneys are highly skilled and experienced in defending creditors in bankruptcy on claims asserted against them by Chapter 11 Debtors or bankruptcy trustees, including claims to recover alleged preferential payments, or claims to avoid transfers to a creditor.
Representation of Committees and Third Parties in Bankruptcy
McGill attorneys include a chapter 7 bankruptcy trustee who has served in that capacity for more than 40 years. Our involvement in representing him and other trustees over the years gives McGill valuable experience and insight. Representation of a bankruptcy trustee is very similar to representing an unsecured creditors committee in a Chapter 11 bankruptcy as both seek to recover the maximum amount for unsecured creditors. Accordingly, our attorneys are highly qualified to represent such committees in Chapter 11 bankruptcies.
Additionally, because of our firm’s expertise in the field of mergers and acquisitions, our firm often represents parties interested in purchasing the assets or business of a bankrupt debtor. In these instances, our bankruptcy attorneys work closely with merger and acquisition attorneys to help the client through the bankruptcy sale process and to develop strategies to become the successful bidder for a bankrupt’s assets or business.