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Corporate Restructuring & Bankruptcy

Strategic Counsel for Businesses, Creditors, and Stakeholders Facing Financial Distress

Wolfson Bolton Kochis advises businesses, creditors, and stakeholders navigating financial distress, bankruptcy, and complex restructuring matters. Our Corporate Restructuring & Bankruptcy practice is led by Scott A. Wolfson, a Fellow in the American College of Bankruptcy. Scott brings decades of experience guiding companies through Chapter 11 reorganizations, out-of-court restructurings, distressed transactions, and related litigation.

Financial distress is not just a legal issue; it is a business crisis with operational, financial, and reputational implications. We work closely with leadership teams, boards, lenders, and advisors to stabilize operations, preserve value, and develop strategies aligned with long-term business objectives. Whether restructuring debt, enforcing creditor rights, or navigating bankruptcy proceedings, we deliver practical, business-focused guidance at critical moments.

Why Clients Choose Our Restructuring & Bankruptcy Practice

Clients rely on our restructuring and bankruptcy practice because we bring experience representing both companies and creditors, combined with practical business judgment and a clear understanding of how distressed situations evolve.

Our restructuring work is closely integrated with the firm’s finance, commercial litigation, automotive & supply chain, and corporate counseling practices—allowing us to anticipate issues, coordinate strategy across disciplines, and manage risk holistically.

Restructuring & Bankruptcy Services

We represent clients in a broad range of bankruptcy and insolvency matters, tailoring strategy to each client’s role, objectives, and industry context.

We assist clients across the country with:

  • Out-of-court restructurings and forbearance agreements 
  • Distressed supplier workouts and automotive supply chain accommodation agreements 
  • Chapter 11 reorganizations, including asset sales under Section 363 of the Bankruptcy Code 
  • Receiverships 
  • Assignments for the benefit of creditors 
  • Chapter 7 proceedings 
  • Creditor committee representation 
  • Secured creditor representation 
  • Landlord representation in tenant bankruptcies 
  • Board, shareholder, and management representation in distressed situations 
  • Distressed asset acquisitions and related transactions 
  • Debtor-in-possession (DIP) financing 
  • Use of cash collateral 
  • Plan negotiation and confirmation 
  • Preference defense and avoidance actions 
  • Fraudulent conveyance and other voidable transaction litigation 
  • Breach of fiduciary duty and related claims 
  • Critical vendor issues and related relief 
  • Proofs of claim and claims administration


Our attorneys guide clients through complex proceedings with clarity and efficiency.

Explore Our Restructuring & Bankruptcy Capabilities

Out-of-Court Workouts & Financial Restructuring

Not all distressed situations require a bankruptcy filing. We help clients evaluate and implement out-of-court solutions designed to stabilize operations and preserve value.

We assist with:

    • Loan workouts and restructurings
    • Forbearance agreements
    • Capital-structure realignment
    • Negotiations with lenders and stakeholders
    • Distressed-debt strategies


These approaches can often resolve issues more efficiently and avoid the cost and disruption of formal insolvency proceedings.

We represent secured and unsecured creditors in enforcing and protecting their rights in distressed situations.

Our work includes:

    • UCC Article 9 enforcement of secured creditor rights
    • Adequate assurance of future performance demands and responses
    • Relief from the automatic stay
    • Claims objections and related litigation
    • Preference and other avoidance actions
    • Receiverships and collateral recovery
    • Assignments for the benefit of creditors


This work is closely integrated with our litigation, finance, mergers & acquisitions, and corporate counseling and practices, allowing us to manage disputes efficiently and pursue practical outcomes.

We advise buyers, sellers, and lenders in distressed acquisitions and asset sales, including transactions conducted through bankruptcy proceedings.

We assist with:

    • Section 363 sales
    • Distressed asset acquisitions in and out of court
    • Stalking-horse transactions
    • Sale approval and related litigation
    • Post-closing disputes


Our restructuring team works closely with our M&A and finance practices to coordinate transaction strategy with the legal, financial, and operational considerations shaping each deal.

We bring deep industry knowledge to restructuring matters, including:

    • Manufacturing and automotive supply chain
    • Real estate, construction, and development
    • Logistics, distribution, and transportation
    • Retail and consumer-facing businesses
    • Healthcare providers and medical practices
    • Professional services firms
    • Technology and other service-based businesses
    • Family-owned and middle-market companies
    • Financial institutions, lenders, and secured creditors

This experience allows us to tailor restructuring strategies to operational realities, financial pressures, and stakeholder dynamics unique to each situation.

Common Questions in Restructuring Matters

When should a business consider filing for Chapter 11?

When liquidity constraints, creditor pressure, or operational challenges cannot be resolved through out-of-court solutions, Chapter 11 may provide a structured process to stabilize operations and restructure obligations.

No. Many distressed situations can be resolved through negotiated workouts, forbearance agreements, or other out-of-court restructuring solutions, depending on liquidity, creditor dynamics, and business objectives.

The automatic stay is an injunction that halts most collection and enforcement actions against a debtor upon the filing of a bankruptcy case.

Yes. In most cases, the debtor continues operating as a “debtor in possession,” subject to court oversight, reporting obligations, and financial and operational constraints. For example, a Chapter 11 debtor must obtain court approval for transactions outside the ordinary course of business.

A Section 363 sale is a court-approved sale of assets in bankruptcy that allows the buyer to acquire assets free and clear of liens, claims, and encumbrances, subject to court approval and competitive bidding procedures.

Certain contracts may be assumed, assigned, or rejected in bankruptcy, subject to court approval. These decisions can significantly impact counterparties, including vendors, landlords, and customers.

As early as possible. Early involvement allows creditors to assess risk, preserve rights, and improve leverage in negotiations or formal proceedings.

Secured creditors generally have rights to their collateral, including the ability to seek relief from the automatic stay or adequate protection of their interests.

In most cases, the automatic stay halts litigation against the debtor. Certain actions may proceed with court approval or fall within exceptions, depending on the nature of the claim.

Preference claims are actions to recover payments made to creditors before a bankruptcy filing that may be deemed to unfairly favor one creditor over others.

Timelines vary depending on the complexity of the case, but Chapter 11 proceedings typically last from several months to over a year, with some cases extending longer.

How We Can Help

Scott A. Wolfson advises businesses, creditors, and other stakeholders in financial distress, creditor disputes, and restructuring matters. He is available to discuss practical strategies and next steps in complex situations.

Contact Scott A. Wolfson regarding your situation.

Scott A. Wolfson, corporate bankruptcy and restructuring attorney at Wolfson Bolton Kochis PLLC in Troy, Michigan

PRACTICE LEAD – Corporate Bankruptcy & Business Restructuring

Scott brings decades of experience guiding companies through Chapter 11 reorganizations, out-of-court restructurings, distressed transactions, and related litigation. He advises businesses, creditors, and stakeholders navigating financial distress and complex insolvency matters.

Need Legal Assistance?

Contact our Corporate Bankruptcy & Business Restructuring team in Troy, MI.