Financial distress can lead to unexpected conflict and undermine business and personal relationships in unforeseen ways. For businesses, insolvency risk involves more than concerns over customers who do not pay their bills or a company's own difficulty dealing with its debts.
For individuals and businesses who encounter dramatic financial distress, Bankruptcy protection can offer an opportunity to reorganize and preserve asset values and enable a debtor to commit future income and earnings to deal with debts. In some cases, creditors may prefer to have their debtors use bankruptcy to reorganize or better allocate residual assets.
The O'Dea Law Firm has been innovative in its use of Bankruptcy and insolvency law to deal with financial distress. Our practice serves individuals and businesses in dealing with their own insolvency risk and in responding to financial distress on the part of their stakeholders. For small and family-owned businesses, the added complexity or divorce litigation requires an understanding of the need to coordinate the special protections afforded to family law principles in Bankruptcy law.
The firm also offers the SFS Law Group service to deal with more complex business organizations and financial issues.