Whether appointed by court or elected by creditors, bankruptcy trustees and court appointed fiduciaries serve a central role in Chapter 7 and Chapter 11 cases. Tasked with critical duties, trustees and fiduciaries need steady guidance from a legal advisor who understands how to navigate the often complex process.
With a number of lawyers recognized by Chambers USA for "expertise in bankruptcy matters," Akerman's bankruptcy team assists trustees and other court appointed fiduciaries in performing their required functions in Chapter 7 and Chapter 11 cases. We also advise and defend claims on behalf of parties that interact with bankruptcy trustees and fiduciaries.
In Chapter 7 cases, we assist trustees in the collection, liquidation, and distribution of the debtor's assets within the bankruptcy estate. Our team members also handle related fraudulent transfer and preference litigation, which may involve analysis of security interests and the sale of assets.
In Chapter 11 cases, we work closely with trustees and restructuring officers in preparing reorganization plans to address the debts and obligations of the debtor and in subsequently presenting the plan to the court and creditors for approval. We also assist in obtaining the necessary authority to operate the debtor's business pending its sale. Our work to support continued operation of a debtor's business, including all relevant corporate and securities issues, facilitates restructuring obligations and the rehabilitation of the business.