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Bankruptcy, Reorganization and Insolvency
Charles J. Taunt & Associates represents clients in all facets of insolvency law including assignments for the benefit of creditors, Chapter 11 reorganizations, Chapter 7 liquidations for individuals and businesses, and when appropriate Chapter 13 asset protection proceedings.
Out-of-court-workouts are used when feasible, enabling us to implement a more efficient restructuring or liquidation and decrease the costs and inevitable delays in a court supervised process.
We work closely with the client's financial advisor to achieve the most advantageous result. This often requires:
- Negotiation with creditors, lenders and trustees
- Resolution of lien priority disputes
- Attempts to limit the impact of trust fund tax liability
- Institution and defense of litigation seeking to recover preferences and fraudulent conveyances
- In the case of a Chapter 11 proceeding, assisting with the design and implementation of the reorganization of the business, guiding the business through the reorganization process and ultimately obtaining confirmation of the plan of reorganization.
We have achieved significant success in securing the discharge of certain types of personal tax liability and have experienced similar success in the defense of actions brought against individuals in Chapter 7 proceedings seeking to prevent the discharge of certain types of liabilities.
We also represent trustees, creditors and creditors' committees in bankruptcy in an effort to maximize the amount available for payment to creditors.
Members of the Firm have lectured on bankruptcy law at seminars for lawyers and accountants conducted by the Michigan State Bar Association, Michigan Association of Certified Public Accountants, the National Business Institute and the Oakland County (Michigan) Bar Association.
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