Need help with Bankruptcy Law?

The Bankruptcy Law Department at Abrams Fensterman offers a wide range of services to debtors, creditors and all parties in interest in corporate reorganizations, liquidation proceedings, out-of-court workouts and bankruptcy litigation. The firm also protects and enforces the rights of its clients against insolvent individuals and business entities.

We often represent the acquirers of and investors in distressed and insolvent companies. Abrams Fensterman has a broad, diverse and comprehensive bankruptcy and restructuring practice which enhances and improves its ability to represent clients creatively and successfully in both their transactional and litigation matters.

Our Bankruptcy Law Department assists businesses and individuals in formulating and carrying out creative problem-solving strategies when they are faced with either their own insolvency or that of a customer or borrower. 

1. If my corporation files for bankruptcy, what will happen to the personal guarantees which I gave to my company's bank and certain of its other creditors?
The bankruptcy filing of a corporation does not discharge or extinguish the liability of any personal guarantors. It is important to address any personal liabilities separately from the corporate bankruptcy case. In certain cases, you may be able to negotiate with creditors to settle for a certain amount from the company in full satisfaction of the entire debt owed. Also, business owners always remain personally liable for certain tax debts such as withholding and sales taxes.