Individual Creditors (Bankruptcy Litigation and Insolvency Counseling)

Individual Creditors (Bankruptcy Litigation and Insolvency Counseling)

Elliott Greenleaf, P.C. is a long supporter of creditors’ rights, working with groups such as the Credit Research Foundation, National Association of Credit Management, the Finance Credit and International Business Association, Federation of Credit & Financial Professionals, and The Association of International Credit and Trade Finance Professionals.  Rafael Zahralddin, Eric Sutty, Jonathan Stemerman, and Shelley Kinsella have been speakers and authors at a variety of trade group meetings and creditor publications, including the CRF, where the firm is one of the six Friends of the Foundation, recognized for their intellectual contributions and financial support for the CRF.  Elliott Greenleaf is a founding member of the Friends of the Foundation.  The firm is a Platinum Sponsor of the Federation of Credit & Financial Professionals. The firm is also the only commercial bankruptcy law firm associate member of the NACM/Transportation Revenue Management Group.  Elliott Greenleaf is also an active member of the NACM Oregon now the NACM Northwest.  Elliott Greenleaf’s lawyers have lectured to a variety of industry groups including the NACM Building Materials Credit Group, National Apparel & Footwear Credit Association, TRMG, and International Food Manufacturers Credit Group.

The firm is an active defense counsel for all sorts of bankruptcy litigation directed at creditors and has a proven track record of forcing settlements for a fraction of the amounts pursued by bankruptcy trustees and other fiduciaries.  The firm can push back using sophisticated modeling and analysis to force settlement in bankruptcy litigation.  The firm utilizes both legal project management techniques and Six Sigma value driven lean processes to ensure the appropriate response to bankruptcy litigation is not dampened by concerns over defense costs.  Utilizing various strategies, including joint defense agreements, common defense groups, and collaboration between defendants, Elliott Greenleaf and its lawyers have successfully defended multiple cases on behalf of similarly situated clients in bankruptcy litigations.

Creditor Defense to Bankruptcy Litigation

Elliott Greenleaf’s attorneys maintain an active litigation practice, allowing them to be on the forefront of legal developments in the corporate and commercial practice of law.  Combined with one of the top creditors’ practices in the bankruptcy court, particularly as committee counsel in a variety of recent cases, the firm is intimately familiar with the most current corporate and commercial trends affecting creditors.

The firm is well practiced in various state law creditor’s remedies and can counsel clients on how to approach distressed customers, including state law rights under the Uniform Commercial Code and Federal Bankruptcy Code rights.  The firm can help navigate requests for adequate assurance of due performance, how to draft contracts, rights to stop delivery, reclamation rights, and anticipatory repudiation.  Elliott Greenleaf can assist creditors before, during and after a bankruptcy has been filed, including perfection of secured positions and counseling on insurance, factoring, and bonding.

Unclaimed Property/ Escheat

Elliott Greenleaf’s Unclaimed Property Law Group can assist holders on the various issues arising from compliance with state unclaimed property laws, with a particular focus on defending audits conducted by various states and their contract auditors as well as completing voluntary compliance agreements on a multistate basis.  Elliott Greenleaf’s attorneys are frequent authors and presenters on the subject to keep companies and their credit managers apprised of developments in both the legislature and in the courts.

The State of Delaware, because it is the state of incorporation for more than 60% of the Fortune 500 companies and because of the state’s aggressive posture in collecting unclaimed property through the use of third party auditors, receives a disproportionate amount of revenue from companies complying with their legal obligations.  Accordingly, Delaware is considered a leading state for unclaimed property law.  Elliott Greenleaf’s attorneys are positioned in Delaware and throughout the country to counsel, assist and, if necessary, to litigate your company’s unclaimed property issues.

Early Warning Alerts for Creditors

The firm engages in early warning systems for its friends and clients as a free service.  The firm provides early case assessment within bankruptcy cases so that its clients are not at a disadvantage when they are later sued in related bankruptcy litigation.  The commercial bankruptcy and restructuring practice group can represent a creditor from the inception of the case through exit by the debtor through plan confirmation, structured dismissals, conversion to chapter 7, and through to the initiation of bankruptcy litigation.  To be alerted if you one of your business partners or clients is involved in a case please, sign up to receive the chapter 11 and avoidance action alerts produced by our bankruptcy practice chair Rafael X. Zahralddin-Aravena.