Alternative to Bankruptcy: Workouts
SUPPORTING CLIENTS IN TEXAS AND NATIONWIDE.
Is it possible to avoid a prolonged bankruptcy process?
The first question for any debtor or creditor in a distressed situation is whether an out-of-court solution that avoids a lengthy bankruptcy engagement.
The debtor and its creditors can often work together to make a plan to address outstanding debtors, with the goal of avoiding foreclosure, extending litigation or bankruptcy. This can reduce the overall cost, business interruption, and delay, so that the debtor can continue with its business and creditors get more money sooner.
Shannon Lee Beatty LLP attorneys have extensive experience with workouts.
If you are in a situation where bankruptcy or insolvency is a possibility, talk to us about whether a workout would be a good fit for your situation. It is prudent to explore all options when you or someone that owes you money is facing financial distress.
Explore if a workout would be a good fit for your situation.