Post on 24-May-2015
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About Us
Pels Anderson, LLC specializes in bankruptcy lawyers in Maryland, Virginia and DC. Our bankruptcy lawyers can help you through a Chapter 7 bankruptcy filing and get you back on track with your finances.
http://pallaw.com/
Bankruptcy laws
Bankruptcy laws help people who can no longer pay their creditors get a fresh start by liquidating to pay their debts or by creating a repayment plan.
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Gateway to Claims
• Bankruptcy law gives tremendous power to Trustees
• Pre-suit discovery under Rule 2004• Liquidating assets provide unlimited
budget to trustees, legal counsel and experts
• National service of process/venue• Private Action Trusts maximize threat
to policy limits
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Types of Claims
CPAs: failed audits, tax advice and preparation Lawyers: PPMs, leveraged buyouts, securities or other client fraud Directors: fiduciary duties, securities fraud, embezzlement? No limit
on any state or federal claim
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Typical Pathway to Claim
• Company files bankruptcy petition in creditor friendly venue
• Trustee appointed• Creditors file claims • Rule 2004 discovery• Substantive Consolidation
of all related parties• Liquidation Plan• Adversary Complaints
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Some Valuable Metrics That You Should Look
• Wage Garnishments• Financial Lawsuits• Debts in unsecured loans• Collection agency issues• Home or Car Repossession• Frozen bank assets
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Settlement
Timing issuesADR• Mediation• ArbitrationEstate liquidation/recoveryBar of third party and creditor claimsClass action• Procedures• Time
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Contact Us
4905 Del Ray Ave., Suite 507 Bethesda, MD 20814 P: (301) 986-5570F: (301) 986-5571
119 North Henry Street Alexandria, VA 22314 P: (703) 684-1897F: (703) 684-1898
http://pallaw.com/