The U.S. Bankruptcy Code was designed to give an honest debtor a fresh start. Protection under the bankruptcy laws can take several forms. An individual or business may choose to liquidate their assets under a Chapter 7 proceeding, or reorganize under a Chapter 11 proceeding. An individual wage earner can only choose to reorganize under a Chapter 13 proceeding. Upon the filing of a bankruptcy petition, an automatic stay is issued prohibiting creditors (including the IRS) from taking any further action against the debtor's property until the case is closed or dismissed, or until the bankruptcy court lifts the stay. The automatic stay gives the debtor time to reorganize under either Chapter 11 or Chapter 13. Under Chapter 7, an individual debtor may be granted a discharge of his or her debts.

Creditors also have rights and remedies under the U.S. Bankruptcy Code as well as under State laws. In bankruptcy, a secured creditor may be entitled to recover its collateral or be entitled to adequate protection payments. A landlord may be entitled to his property or adequate assurance of rent payments. Certain creditor (i.e. employees) are granted priorities, and unsecured creditors may form committees to investigate the debtor's activities.

Creditors in State court have the right to sue to collect debts due to them, to foreclose on mortgages, to reclaim collateral, to request receivers be appointed, or to enjoin a debtor from disposing of assets. After judgment, a creditor can also levy on the debtor's property or issue garnishments.


Types Of Services

Business Bankruptcy Cases:

We have represented a wide variety of businesses in both Chapter 11 Reorganization and Chapter 7 Liquidation proceedings.

Personal Bankruptcy Cases:

We have represented numerous individuals that have found themselves in financial trouble, including contractors, businessmen, doctors facing malpractice judgments, and entrepreneurs who have guaranteed the debts of insolvent businesses.

Bankruptcy Litigation:

Our attorneys have handled virtually all types of bankruptcy litigation, including preferences, fraudulent conveyance matters, automatic stay litigation, cash collateral issues, executory contract litigation, and motions for conversion or dismissal.

State Court Receiverships:

Some circumstances warrant the appointment of a State Court Receiver to operate a business as a means of protecting its creditors or shareholders. Our attorneys have represented debtors and creditors in these types of cases, and in some instances have acted as Receivers.

Trust Mortgages:

We have arranged for the liquidation of numerous businesses pursuant to trust mortgages, executed pursuant to Michigan law, as a cost effective alternative to bankruptcy.

Informal Plans:

Our attorney have negotiated numerous informal plans with creditors for debtors in an effort to avoid formal bankruptcy proceedings.

Commercial Workouts

Financial institutions and banks often turn to us to assist them in the collection of delinquent loans. We have handled a number of successful workouts without the necessity of litigation. We have also negotiated numerous workouts for troubled businesses with their creditors.

Collection Cases

Our attorneys are experienced in a wide array of collection cases. We have handled numerous foreclosure actions, claim and deliveries, repossessions, forfeitures, tenancy matters, and general collection cases.

Asset Protection

We regularly consult with professional and other business people as to how they can best protect their assets from potential creditors.

Tax Litigation

We are familiar with all aspects of civil tax litigation. Our attorneys are experienced in handling both State and Federal tax matters and disputes both on the administrative level and in the courts.


Our Philosophy

Both debtors and creditors need knowledgeable, skillful and creative attorneys to represent them in a wide variety of matters. Our bankruptcy attorneys will review all the alternatives with a troubled debtor prior to considering recommending the filing of a bankruptcy petition. When representing creditors we likewise weigh all alternatives, including litigation. However, when representing either debtors or creditors, we are inclined to take an aggressive approach in protecting the rights of our clients. We are a full service debtors' and creditors' rights law firm that solves problems in a cost effective manner.


What Should You Do Next?

Regardless of whether you are a financially troubled debtor, a secured creditor seeking your collateral, a landlord seeking the return of property, or an unsecured creditor wanting to collect an outstanding debt, contact one of our attorneys to assist and counsel you. Couzens, Lansky is a full service debtors' and creditors' rights law firm available to handle all your personal and business financial problems. All matters will be handled competently and confidentially by experienced attorneys.