Creditor & Debtor Disputes
The attorneys at Trivedi & Khan routinely represent both creditors and debtors in litigation in state and federal courts. We prosecute and defend: Collection actions based in contract, account stated, unjust enrichment, quantum meruit, confession of judgment and other legal grounds; Personal guaranty claims; Fraudulent transfer actions; Mortgage and mechanics lien foreclosures; Commercial evictions; Repossession and claims to personal property including replevin and detinue, and UCC claims ; Enforcement of judgments including post-judgment collections, account garnishment, and pursuit of non-liquid assets such as debtor ownership interests in Illinois companies. We also advise and represent business creditors and debtors in transactional, pre-litigation and out-of-court matters including real estate and business loan workouts, business debt restructurings and private business liquidations through asset sales and assignments for the benefit of creditors.
A business bankruptcy is a game-changer that impacts all parties that have business relationships with the bankrupt debtor. We counsel and represent those affected by a bankruptcy, including secured and unsecured creditors, landlords and tenants of the debtor, suppliers and customers of the debtor and other third parties that may be impacted by a bankruptcy filing. We advise clients affected by Chapter 7 and Chapter 11 bankruptcy cases. We protect and assert our clients’ rights including claim rights, lease and contract rights, security interests and lien rights, and rights vis-a-vis other third parties or the bankruptcy trustee, throughout the phases of the bankruptcy case. We also represent non-debtor clients in adversary proceedings such as preference claims, discharge and dischargeability actions, fraudulent transfer actions, and trustee litigation. Our goal is to obtain the best outcome for our clients under unfortunate circumstances. We also advise and represent business debtors in pre-bankruptcy matters and in bankruptcy cases under Chapter 7 and Chapter 11 of the Bankruptcy Code. We have represented business debtors in involuntary bankruptcies and in voluntary cases from the filing of the bankruptcy petition through the closing of a Chapter 7 case, and our attorneys have participated in debtor representation in Chapter 11 cases from filing the petition through the confirmation of the debtor’s plan of reorganization. Even where no bankruptcy is filed, our business debtor clients benefit from our bankruptcy experience; we counsel our clients on bankruptcy and non-bankruptcy options whenever relevant, throughout the course of the lawsuits and claims we defend.