Commercial Bankruptcy

New York City Commercial Bankruptcy Attorney

In today's unstable business environment, a business is constantly faced with the risk that its customer, partner or borrower may become insolvent. Unfortunately, the current environment is rife with greed, desperation — and even fraud and corruption. you may need to protect your interests against legal challenges from other creditors, lenders or a trustee in bankruptcy.

If your customer or debtor is at risk for bankruptcy, a consultation with an experienced business and commercial bankruptcy lawyer is a necessity. A customer or debtor owing you money can voluntarily file for bankruptcy or be forced into bankruptcy by three petitioning creditors. It may also be to your advantage to force the debtor into bankruptcy rather than allowing it to continue losing financial position.

More importantly, if you believe a customer or debtor is in a weak financial condition, there are risks in continuing to engage in transactions with it. There are concrete, proactive steps you can take to protect your interests now, outside of bankruptcy.

The Law Office of David H. Relkin, Esq. represents commercial creditors in bankruptcy and in related litigation. This may include clawback litigation, protection against preferences (payments to creditors within 90 days of a bankruptcy), engaging in payment transactions with the debtor (which may give rise to liability in the event of a bankruptcy), or protecting sales made to a debtor within 20 days of the bankruptcy through reclamation of goods.

To schedule a consultation about a protecting your rights as a creditor, contact experienced New York City business lawyer David H. Relkin.

Preference Defense Actions: Creditors' Rights in Business and Commerce

Attorney David H. Relkin represents companies being sued by a bankrupt company or bankruptcy trustees in litigation. The most common problem for a creditor of a bankrupt company is defending against preference actions brought by the Debtor or a Trustee. These companies require experienced legal counsel to help creditors protect their interests, and defend against such actions.

The Bankruptcy Code provides for scrutiny of all payments and transfers made to creditors by debtors during one-year and six-year periods prior to a bankruptcy petition. Mr. Relkin has made law in this area and has the experience and knowledge to protect businesses from actions by debtors or trustees in bankruptcy with aggressive, effective action.

Reclamation

One of the many ways a creditor can protect itself against loss. Business lawyer David H. Relkin also proactively protects creditors who seek to reclaim goods shipped to the bankrupt within a short period prior to a company's bankruptcy filing. Such reclamation must be done quickly and properly to secure your rights.

In the area of reclamation, your legal rights as a creditor are extremely time-sensitive. If you received notice of a customer's bankruptcy, contact Mr. Relkin's New York office immediately.

You have only 20 days to join in the bankruptcy action and reclaim your goods. Mr. Relkin will discuss how to go retrieve shipped goods or merchandise to proactively protect your interests when bankrupt companies are not likely to make good on payment of orders.

Risks to Creditors

Attorney David Relkin is aware of the risks to creditors, including emerging risks to creditors in Chapter 11 bankruptcy. He protects creditors by analyzing their situations and devising and making strategic solutions in bankruptcy or bankruptcy-related litigation.

Quick and decisive action is vital in commercial and business litigation or arbitration. Contact the law offices of David H. Relkin to schedule a case evaluation.