Bankruptcy & Restructuring Workouts
In many instances debtors and creditors may find an out-of-court restructuring more advantageous than putting resources into a lengthy bankruptcy engagement. In such situations, a debtor and its creditors work together to make a plan to address outstanding debts, with the goal of avoiding foreclosure or bankruptcy. The debtor, creditors, and any shareholders involved with the workout, may agree to many of the same procedures available during bankruptcy, including distressed asset sales, consensual debt restructuring, or forbearance.
Okin Adams: Houston Workout Lawyers
If you are in a position where you are considering bankruptcy, talk to us about whether a workout would be a good fit for your company’s situation. It is prudent to explore all your options during this stressful time and we can help you find a path that makes the most sense for your needs.