400 Galleria Officentre, Suite 444
Southfield, Michigan 48034
Telephone: (248) 827-4100
Fax: (248) 827-4106

Bankruptcy and Insolvency

Bankruptcy And Insolvency

A cornerstone of the firm is its comprehensive and extensive experience in bankruptcy, reorganization and insolvency matters. The firm regularly represents debtors, secured and unsecured creditors, creditors’ committees, trustees, landlords, business owners and other interested parties in matters in bankruptcy cases filed under Chapters 7, 11 and 13 of the Bankruptcy Code. The firm is also familiar with the Chapter 9 bankruptcy process and was significantly involved in the Chapter 9 bankruptcy proceeding involving the City of Detroit (see Municipal Insolvency and Chapter 9). We are well-known in the bankruptcy courts in Michigan, and have frequently participated in large national bankruptcy cases in other jurisdictions. The firm is proficient in bankruptcy litigation matters, including preference, fraudulent conveyance and other controversies arising in bankruptcy cases (see Litigation).

Erman Teicher also works with clients in non-bankruptcy insolvency matters, including assignments for the benefit of creditors, trust mortgages, composition agreements, federal and state-court receivership proceedings (see Receiverships) and out of court workouts and restructurings (see Out of Court Workouts and Restructuring).

The range of services provided to our clients includes:

  • Analyzing the debt problems of insolvent companies and individuals
  • Consulting with companies, individuals and their counsel with regard to bankruptcy and non-bankruptcy alternatives
  • Representing creditors’ committees in court and in out-of-court matters including specific industry related cases, such as the automotive industry
  • Advising on the bankruptcy impact of various business transactions
  • Advising secured and unsecured lenders and creditors, including landlords
  • Preparing voluntary bankruptcy petitions, schedules and statement of financial affairs, including review of supporting documentation
  • Advising clients on corporate restructuring and insolvency proceedings
  • Litigating disputed valuation of assets
  • Litigating appointment of trustee and/or conversion of cases from Chapter 11 to Chapter 7
  • Litigating matters pertaining to the validity, perfection, priority and enforcement of security interests
  • Prosecuting or defending avoidance actions (i.e., preference and fraudulent conveyance matters)
  • Preparing proofs of claim and defending objections to claims
  • Negotiating debtor-in-possession financing arrangements, including the terms and conditions for use of cash collateral, and/or opposing requests to use cash collateral, including conducting evidentiary hearings
  • Negotiating and implementing out-of-court workout and restructuring agreements and plans of reorganization, including pre-packaged plans and related disclosure statements
  • Filing and prosecuting involuntary bankruptcy petitions and motions for appointment of trustees
  • Obtaining relief from the automatic stay
  • Preparing or responding to motions for the use, sale or lease of estate property,
  • Preparing or responding to motions for the rejection or assumption of executory contracts
  • Negotiating, preparing, reviewing and handling all matters pertaining to approval of disclosure statements and confirmation of plans of reorganization
  • Litigating issues of non-dischargeability of debt

 

Healthcare Insolvency And Related Matters

Erman Teicher has worked with hospitals, hospital creditors and other medical parties on a variety of hospital and medical practice related insolvency, restructuring, workout, bankruptcy, acquisition and general business matters (see Business Transactions and Contracts). The firm provides counsel to hospitals regarding creditor matters involving their physicians, practice groups, vendors, suppliers, stakeholders, affiliates and others. We have counseled hospitals and their lenders regarding debtor, creditor, insolvency, restructuring and workout matters (see Out of Court Workouts and Restructuring). The firm has represented hospitals and hospital groups as buyers, both in and outside of bankruptcy, in acquiring the assets and properties of distressed hospital sellers. We also have health care experience with general business and contract matters, physician or medical group employment contracts, regulatory compliance, payment liabilities to CMS and state agencies and licensing issues.

Municipal Insolvency And Chapter 9 Bankruptcy

The firm was significantly involved in the Chapter 9 bankruptcy proceeding involving the City of Detroit, Case No. 13-53846, in the U.S. Bankruptcy Court, Eastern District of Michigan.   Erman Teicher represented several key creditors in that case and participated in many of the hearings throughout the Chapter 9 bankruptcy. Our attorneys are familiar with the Chapter 9 bankruptcy process and have the skills and resources to counsel municipalities and creditors of municipalities on all Chapter 9 bankruptcy matters including the steps leading to a Chapter 9 bankruptcy filing, eligibility requirements, the ability for municipalities to reduce and restructure their debt obligations and an analysis of the issues involved including emergency manager issues.

About The Firm

Erman, Teicher, Zucker & Freedman, P.C., is a Metropolitan Detroit-based law firm founded in 1976, practicing in the federal and state courts. The firm's practice focuses on areas of bankruptcy, business, corporate, construction and real estate law, as well as commercial litigation.

 

Contact Us

400 Galleria Officentre
Suite 444
Southfield, Michigan 48034
Telephone: (248) 827-4100
Fax: (248) 827-4106