Wayne Insolvency Lawyers
Our insolvency lawyers understand that each client has individual circumstances and sensitivities. Whichever way you choose to handle your personal insolvency workouts, you should have all the facts available. We are focused on creating and executing practical legal solutions under the guidelines of U.S. insolvency law. We help those in financial crisis explore new opportunities, and we are dedicated to achieving the best possible outcome for those looking to address their financial issues.
Insolvency Definition & Types of Insolvency Solutions
You may wonder what the insolvency definition is. Individuals or organizations become insolvent when they cannot meet financial obligations as debts become due. Insolvency can lead to insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be sold to pay outstanding debts. Bankruptcy and insolvency are not synonomous. Bankruptcy is a determination of insolvency made by a court of law which results in legal action intended to resolve the insolvency. In addition, an insolvency worksheet is designed to better organize the larger financial picture into well-defined categories of liabilities and assets.
Types of Insolvency Solutions
- DIP and collateral budgeting
- Chapter 11 planning
- Expert witness
- Forensic accounting and fraud analysis
- Liquidation support
- Assignment for the Benefit of Creditors (ABC)
- Bankruptcy schedules and operating reports
- Court appointed receiver
- Preference analysis and recovery
- 363-sale management
Contact Our Insolvency Law Firm
Contact our insolvency lawyers to help you better understand your options as it relates to bankruptcy and insolvency.