Business Bankruptcy; Mediation; Civil Litigation; Business Transactions; Estate Planning, Wills, Trusts and Probate.
BUSINESS BANKRUPTCY
The firm continues its representation of businesses that seek to reorganize, both inside and outside of Chapter 11 Bankruptcy. The firm also represents creditors, lessors and other parties in Chapter 11 cases.
Most troubled businesses can be saved. Chapter 11 of the Bankruptcy Code is there to help them do that.
Business men and women have a natural reluctance to admit, even to themselves, their busineses may be in trouble. No one puts on seminars to explain business turnaround and reorganization techniques. Why? No one would come. Who would admit publicly that his or her business was in trouble? Business schools give scant attention to business insolvency, and there is virtually no literature on the subject outside the community of bankruptcy specialists. Denial, embarrassment and a paucity of helpful information prevent business people from confrionting business insolvency.
The firm has an outreach program to educate business men and women on this taboo subject of troubled business. If you have a business in financial trouble, "BUSINESS CPR AND Rx: TURNAROUND, REORGANIZATION AND CHAPTER 11" is required reading. You can read all 13 short chapters and a glossary of bankruptcy terms by clicking on "BUSINESS CPR AND Rx."
MEDIATION
Colin W. Wied is a credentialed, experienced mediator. He is available nationally as a mediator in complex business and commercial cases, particularly including the formulation of consensual Chapter 11 reorganization plans.
Nowhere is medation more appropriate than in a Chapter 11 bankruptcy reorganization case. There are many parties to every Chapter 11 (the debtor and its owners, all secured creditors, unsecured creditors as a group or individually, lessors/lessees, the United States Trustee), and each one of them is given a bundle of rights under the Bankruptcy Code. It isn't just the debtor against all the creditors. It's all the other parties against each other as well as the debtor. Mediation makes the Chapter 11 process work. Excessive litigation defeats it.
CIVIL LITIGATION
The firm's lawyers are highly experience, capable trial and appellate lawyers in both federal (including bankruptcy) and state courts.
Much of what goes on in a Chapter 11 bankruptcy case is litigation. There are all manner of motions and applications to be researched, briefed and argued, as well as adversary proceedings to be tried. Litigation support is essential to the representation of both business debtors and creditors in a Chapter 11 case.
BUSINESS TRANSACTIONS
Colin W. Wied is experienced in counseling business clients, and in drafting business documents, especially in the formulation and drafting of Chapter 11 reorganization plans and disclosure statements.
A Chapter 11 plan of reorganization is a court-approved contract between a business debtor and its creditors. A Chapter 11 disclosure statement is the equivalent of statements issued in connection with offers for the sale of securities.
An understanding of business and securities transactions, and skill in drafting business documents are essential to the representation of both business debtors and creditors in a Chapter 11 case.
ESTATE PLANNING, WILLS, TRUSTS AND PROBATE
Colin W. Wied is an experienced estate planning and probate lawyer. While it would seem that estate planning has nothing to do with business bankruptcy, in fact both practice areas are quite similar. Each focuses on the protection and enhancement of wealth. Probate practice is, in many respects, like bankruptcy practice. Each practice focuses on payment of creditors and the preservation and distribution of an estate.
Estate planning used to mean just wills, trusts and tax planning. Today it is much more. Lifetime planning is critically important. For example, company pensions are a thing of the past. IRAs and 401Ks and other retirement plans have replaced them, but they are not automatic like pensions used to be. They have to be planned and funded.
Another example is the growing need for long term health care. We are living longer, and proper long term care planning is necessary if financial security and quality of life are to be ensured.
The death of a person invariably presents an opportunity for disputes among family members. The well-conceived estate plan and properly drafted documents will avoid these disputes. The cost of estate planning is nominal compared to the cost of litigation.
