The law firm of Stevenson & Bullock PLC specializes in all areas of bankruptcy law practice, including the representation of Trustees, Debtors, and Creditors. In addition, the bankruptcy attorneys of our firm handle complex renegotiations and other financial and real estate matters for clients.
Chapter 7 Bankruptcy
Chapter 7 of the Bankruptcy Code governs the liquidation of a debtor's assets and payment of his creditors in exchange for a full discharge of those debts. Chapter 7 is applicable for both businesses and individuals.
The attorneys at Stevenson & bullock work primarily to guide high income, high asset debtors through the Chapter 7 bankruptcy process. This is known as "high end consumer bankruptcy." The firm also handles a myriad of business liquidations under Chapter 7, specializing in the intricate interaction between the individual business owner, and his or her company.
Chapter 11 Bankruptcy
Chapter 11 of the Code is well know as the "business reorganization" laws. In recent years, a large number of companies have been forced to restructure their finances under these provisions of the Code. The attorneys at Stevenson & Bullock handle these exact type of cases.
Additionally, for a debtor whose income exceeds the statutory limits for both Chapter 7 and Chapter 13, the only remedy available may be Chapter 11. This was once a cumbersome and arduous process for an individual to undergo; however, while it is still slightly more complex than Chapter 13, recent amendments to the Code have mad the process much more manageable. The firm specializes in this aspect as well.
Real Estate Litigation
Often times, a would be debtor can avoid the need for filing Bankruptcy altogether by renegotiating certain real estate and other related debts. Sometimes this needs to be done through the process of litigation.
The firm currently represents several banks and other financial institutions in adversary proceedings involving debtors who have obtained money or credit from other institutions through fraud or other behavior which by law excepts that debt from discharge, or involving debtors who transferred money or property with the intent of hindering the institution's recovery through the bankruptcy process.
Chapter 13 Bankruptcy
In the event that, for a variety of reasons, Chapter 7 relief is unavailable to a debtor, or that debtor would prefer a reorganization plan, an individual debtor only, may seek relief under Chapter 13 of the Bankruptcy Code. Chapter 13 is designed specifically as a "light" version of the commonly known Chapter 11 "reorganization" laws.
The firm handles all types of individual Chapter 13 reorganizations, from the complex business owner whose income exceeds the Chapter 7 limits, to simpler cases of excess credit card or drastic decline in income.
The firm currently represents multiple Trustees in the Eastern District of Michigan in their more complex cases.