Running a business isn't always smooth sailing.
We help you navigate your course.
To know the laws that govern the winds, and to know that you know them, will give you an easy mind on your voyage round the world; otherwise, you may tremble at the appearance of every cloud.
The attorneys at Iurillo Law Group, P.A. have over 35 years of combined litigation experience. We represent debtors and creditors in contested bankruptcy matters and adversary proceedings which we generically refer to as "bankruptcy litigation". Entanglement with the bankruptcy process may be foreseeable or a business or individual may find themselves unexpectedly named as a party in a lawsuit filed in bankruptcy court. Although litigation is not a voyage our clients seek, taking the helm and seeking counsel as to the law provides the opportunity to understand the strengths and weaknesses of your case. We will work with you to identify and develop a litigation strategy that best fits your needs; weighing the pros and cons of each strategy.
Frequently, the bankruptcy cases we file on behalf of our debtor clients may involve litigation with creditors or the trustee. Prior to filing any bankruptcy, we advise our individual and business clients about the risk of litigation and help our clients determine whether the risk outweighs the anticipated creditor problems that may arise if the bankruptcy is not filed. On the creditor side, we represent creditors who seek to challenge a debtor's bankruptcy. The benefit to the creditor is the opportunity to continue its collection efforts if the creditor prevails in the litigation. We also represent bankruptcy trustees in litigation matters. To follow are a few examples of the bankruptcy litigation matters which arise in the bankruptcy context.
A significant portion of our bankruptcy litigation practice frequently involves preference and fraudulent transfer litigation. We represent creditors, debtors, trustees and other parties in litigation involving claims of preferential payments under Section 547 of the Bankruptcy Code and fraudulent transfers under Section 548 of the Bankruptcy Code and state law.
Individuals and businesses who receive payments from a debtor before a bankruptcy filing may be sued for the return of those payments in a lawsuit called a "preference action". We routinely help individuals and business owners defend these actions by learning about the business relationship between the parties and asserting applicable defenses in the litigation process such as the ordinary course of business defense and the new value defense.
Similarly, individuals and businesses may be sued for fraudulent transfer claims. Fraudulent conveyances claims can either be for actual or constructive fraud. Actual fraud alleges intent to defraud creditors by transferring property. Constructive fraud involves a debtor receiving less than the equivalent value for the transfer while the debtor is unable to pay its debts at the time or as a result of the transfer. Our attorneys review and analyze our clients' relationship with the debtor prior to bankruptcy and then prepare appropriate defenses to the claim.
Because we represent bankruptcy trustees, we understand the strategy commonly employed in preference and fraudulent transfer cases and are frequently able to resolve the case without a trial. Our goal is to negotiate an efficient and economical resolution of the claims, however when necessary, our attorneys aggressively litigate on our clients' behalf through trial.
The bankruptcy process and resulting litigation in the bankruptcy court requires a team of lawyers with the knowledge and experience to aggressively advocate on your behalf. We have a reputation of assertive perseverance in bankruptcy litigation and are prepared to use these tools to fight for your rights in bankruptcy court.
Please review our Business Litigation and Creditors' Rights pages for additional information that may be relevant to parties interested in our Bankruptcy Litigation practice. In addition, please review the description of the broad range of clients we commonly represent on our Representative Clients page.