Practice Contact

Bankruptcy Workouts

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Sullivan Ward represents debtors and creditors in Michigan and Illinois, and numerous other states across the country in which our attorneys are licensed to practice. Our objective is to achieve a successful result and to relieve your business difficulties.

We counsel and represent debtors by analyzing the debtor’s financial condition, and recommending the most beneficial course of action. Depending on the situation, we may advise an out-of-court settlement, a court proceeding such as a state assignment for the benefit of creditors, a trust security agreement, or a federal bankruptcy proceeding to include a Chapter 7, Chapter 11 or Chapter 13 filing. Frequently, we are able to negotiate a forbearance agreement with secured creditors and similar arrangements with unsecured creditors that allow us to work through these agreements with the debtor and creditors.

Our attorneys also represent secured and unsecured creditors, and participate in negotiations and many types of court and out-of-court meetings and proceedings. We negotiate and draft forbearance agreements, commence and conclude foreclosures of real and personal property, as well as initiate other actions, including litigation, to collect debts.