Corporate Bankruptcy & Tax Discharge Rule in Wayne County MI
We combine an expertise in corporate restructuring and the Bankruptcy Code with competence in litigation. You will benefit from our experience in courts through the United States, and our services include - negotiating forbearance agreements, accommodation and access agreements, filing bankruptcy petitions under Chapter 11, Chapter 12, and Chapter 7 of the Bankruptcy Code, when necessary.
Who Are Our Clients?
We've represented parties in complicated bankruptcy and reorganization proceedings, including out-of-court workouts, assignments for the benefit of creditors, and receiverships:
- Secured Creditors
- Unsecured Creditors
- Equity Holders
- Asset Purchasers
- Creditor's Committees
Creditors' Debt Collection Rights
We are skilled in commercial debt collection and are innovators in finding ways for our clients to navigate the process. Our services also include claim and delivery/replevin actions, corporate veil piercing, receiverships, fraudulent transfers, preferential transfers, reclamation, creditor examinations, garnishments, and foreclosures. We've also petitioned uncooperative debtors into bankruptcy by filing an involuntary bankruptcy petition against them.
Our attorneys have represented formal and informal unsecured creditors' committees, including the following clients:
- VPH Pharmacy, Inc. - Lead Counsel in bankruptcy of pharmacy that provided medications and informational services to approximately 60 different assisted living centers, foster care facilities, retirement homes, and long-term care facilities.
- Lee Steel Corporation - Lead Counsel in bankruptcy of steel producer with pre-bankruptcy sales in excess of $115 million.
- Richfield Equities, L.L.C. - Lead Counsel in bankruptcy of a vertically-integrated solid waste collection, transfer, disposal, and recycling company with operations in Michigan.
- Steel Parts Corporation - Lead Counsel - obtained $600,000 payment from Debtor's pre-petition lender on threatened fraudulent conveyance action without filing a complaint.
- DriveSol Worldwide, Inc. & DriveSol Global Steering, Inc. - Lead Counsel for Informal Committee in out-of-court liquidation of global automotive manufacturer. Obtained significant dividend to unsecured creditors through discovery of lender's failure to record mortgages on several parcels of real estate in three states.
- Billy Bob's Gameroom Furnishings - Lead Michigan Counsel - negotiated dividend to unsecured creditors two times that required by Debtor's plan.
Litigation Services & Approach
We leverage our knowledge of business law towards effective representation for our clients in high-stress, adversarial proceedings. Our trial lawyers have litigated commercial cases throughout the United States. From trials and arbitrations to hearings for injunctive relief, our attorneys are are versatile, results-driven professionals.
We have extensive experience representing major corporations in multi-million dollar business disputes. Our attorneys have successfully enforced contract rights in both state and federal courts.
Our services include:
- Contract disputes
- Business torts
- Claims under the Uniform Commercial Code
- Fraud and misrepresentation
- Shareholder oppression
- Temporary restraining orders and injunctive relief
- Merger and acquisition disputes
- Automotive supply chain litigation
- Director and officer liability and derivative litigation
- Commercial debt collection
- Sales representative litigation
- Lien priority disputes
- Warranty, recall, and product liability
- Claims under Michigan's Special Tools Lien Act and Molder's Lien Act
- Probate litigation
Schedule Your Free, Initial Consultation Now!
When hiring your tax discharge rule services in the Wayne County MI area, don't hesitate to contact us for your free initial consultation! When you're faced with bankruptcy, you have resources! Wolfson Bolton helps you understand your options, so you don't worry. With years of experience, we've helped many of your neighbors, friends, and family with their bankruptcy problems.
Manny - Small Business Owner:
Before: Manny owned and operated a small, local restaurant, serving his family's authentic cuisine from his native country. Unbeknownst to Manny, he was sued in state court for a debt that he had co-signed years ago. He was no longer in touch with the co-borrower, with whom he had a falling out. Although Manny did not receive notice of this lawsuit, court records indicate that he was served at a prior address. Due to his "failure" to respond in a timely manner, a default judgment was entered. The judgment creditor took swift action to collect on the judgment. Manny could not afford to challenge the validity of service at a prior address, and nonetheless, he had co-signed for the underlying debt. The creditor sought to freeze his bank account and seize his restaurant's equipment. Fearing the loss of his business equipment and assets, and needing to seek immediate relief, Manny contacted an experienced bankruptcy attorney for advice.
After: Manny was advised that he risked losing his business and/or the equipment he needed to operate his restaurant by filing for Chapter 7. Manny elected to file a Chapter 13 bankruptcy instead, with a plan to pay the judgment creditor the total amount a Chapter 7 Trustee would recover if his business assets were liquidated. Manny worked with his attorney on this plan, which gave him five years to pay a portion of the judgment, while retaining his business assets. To Manny's surprise, the judgment creditor - the only creditor in the case - failed to timely file a proof of claim. As a result, Manny's case was closed and a discharge of his debts entered. Manny emerged from Chapter 13 in just six months, debt free, and with full ownership of his business assets.