George M. Geeslin negotiates loan workouts on behalf of creditors whose debtors are on the brink of Chapter 11 bankruptcy. As a creditor, you certainly do not want your debtors going into bankruptcy court and petitioning to shed their obligations to you. Likewise, your debtors must understand that bankruptcy is truly a last gasp effort for a business to stay open, and should not be filed until all other options have been exhausted. I design those other options. I develop strategies to work out loan obligations so that both sides emerge better off.
Though Chapter 11 bankruptcy is meant to allow a business to restructure and get a fresh start, many never get a restructuring plan approved by the court, and of those who do, a significant percentage will be back in bankruptcy court within a few years. Most companies that file Chapter 11 bankruptcy never return to profitability.
Publicly held companies that file for bankruptcy see their stock prices plunge and working capital soon dries up. Talented employees whose job security is threatened start heading for the doors, adding to the instability of the company.
I work cooperatively with businesses and corporations as they explore options to restructure their operations and work out debt issues without resorting to Chapter 11 bankruptcy. I am often able to strike a deal on behalf of creditors that allows the business a fresh financial start while securing the repayment of loan obligations, all without a bankruptcy filing.
I help my clients explore their options for out-of-court workouts. I work closely with business, financial and accounting consultants to determine whether the debtor has a viable business restructuring alternative to Chapter 11. A loan workout may be a better option than bankruptcy when commercial loans, asset loans, SBA business loans and other debts exist.
I represent creditors during the business reorganization and loan workout process. While my goal is to work with all parties involved to find a consensual solution, I am fully prepared to fight aggressively for my clients when the situation calls for it.
A key to working through debt issues without going into bankruptcy is convincing the debtor to commit to a business restructuring plan. I have the legal knowledge and business acumen to do so and will protect your interests throughout the process.
Call George M. Geeslin at 404-476-3998 or contact me online to schedule a consultation at my Atlanta office.