Business and Consumer Bankruptcy and Insolvency Attorney
Assisting individuals and small businesses with financial issues.
With over 35 years of experience practicing bankruptcy, insolvency, and creditor’s rights law, Mike Lieberman primarily specializes in representing individuals and small businesses in Chapter 7, 11, and 13 bankruptcies, out of court workouts, business wind-downs, asset liquidations, and Insolvency matters.
Having practiced for over 3 decades and handled hundreds of cases, there is virtually nothing he hasn’t seen or done in this very specialized area of law.
He’s ready to help you today!
Areas of Expertise
Chapter 7 Bankruptcy
Chapter 7 is the most common and frequently filed form of bankruptcy. It is available to individuals and businesses. In an individual chapter 7 case, the Debtor (person who is filing the case), seeks to receive a Discharge. The Discharge is the legal determination that the Debtor no longer has personal liability for paying his/her debts.
Chapter 11 Bankruptcy
Chapter 11 proceedings are typically more complicated bankruptcies, generally utilized by business entities seeking to reorganize or restructure their debt. In some situations, a Chapter 11 is filed to allow the Debtor to sell some or all of its business assets or operations. In a Chapter 11, management of the Debtor usually continues to operate the business as a “Debtor in Possession” under the supervision of the bankruptcy court.
Chapter 13 Bankruptcy
In a Chapter 13 case, the individual Debtor is required to file a plan of reorganization. The plan proposes to pay creditors over a period of time that usually is not less than 36 months, but cannot be longer than 60 months in length. The Debtor is not required to pay all creditors in full, but the Debtor is required to pay all of his/her net future disposable income to the creditors over the life of the plan.
Creditor Workouts
In many circumstances a bankruptcy may not be the best option for the Debtor, or the Debtor may not wish to file a bankruptcy proceeding. In that case, the Debtor may want to consider an out of court workout with its creditors. The Creditor Workout is a consensual arrangement that the Debtor makes with creditors to settle the Debtor’s obligations. The Creditor Workout can be used in a business or an individual consumer case.
Business Wind-Downs
A business wind-down or liquidation is another out of court alternative that allows the business Debtor to liquidate and wind down its business affairs without court supervision. This process is done with the knowledge and consent of the secured creditor(s) who may have a security interest in the assets of the Debtor.
“My sincere thanks for the work you did on my case. I realize it is your job but you did it with patience and compassion… And that has meant a lot to me.”
– Client Testimonial from J.L.
Get in Touch
To schedule a meeting with Mike, please call the office or click “Contact Us” below.
While this website provides general information, it does not constitute legal advice. The best way to obtain guidance on your specific legal issue is to contact a lawyer.