Do we need a bankruptcy attorney? 18 Answers as of March 29, 2012
My father had a large sum of money invested with a company that has filed bankruptcy. He is represented, as are all the other investors, by the Bankruptcy Administration but does he also need his own representation? What type of Attorney deals with this type of situation?Free Case Evaluation by a Local Lawyer!
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Heupel Law | Kevin Heupel
It sounds as if he is represented, but he should contact a "creditor's attorney" who specializes in bankruptcy to make sure his rights are protected.
Answer Applies to: Colorado
Replied: 11/2/2011
Law Offices of James Wingfield | James Wingfield
You may want to talk with a bankruptcy attorney. Many bankruptcy attorneys represent only debtors, so you want to make sure that you talk to an attorney that has experience with creditor issues (such as me). With that said, if your fathers investment was an equity investment (i.e., if he owned stock in the company) he may not be in a position to recover anything.
Answer Applies to: Massachusetts
Replied: 11/2/2011
The Law Offices of Seth D. Schraier | Seth D. Schraier
If he is just a creditor, then he doesn't necessarily need a bankruptcy attorney. At the creditors meeting he will have an opportunity to show any debt that is owed to him and what he will lose during the bankruptcy. If he would feel more comfortable having an attorney present to advocate his position, then he should definitely seek one out, but it is by no means necessary to have.
Answer Applies to: New York
Replied: 11/1/2011
The Law Office of Darren Aronow, PC | Darren Aronow
He should have a bankruptcy attorney representing him to insure that the monies seized, if any, are distributed to your father as a creditor.
Answer Applies to: New York
Replied: 11/1/2011
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
If you have a claim in bankruptcy you should file a Proof of Claim form. You may want to consider consulting with an attorney who represents creditors.
Answer Applies to: California
Replied: 11/1/2011
Marc S. Stern | Marc S. Stern
You need someone. There is no entity called "Bankruptcy Administration." A U.S. Trustee or someone from the office may look at the filing but that does not mean that your father is represented. It does not mean that any rights that your father may have are being represented.
Answer Applies to: Washington
Replied: 11/1/2011
The White Rose Group | Vincent P. White
You do not necessarily need a bankruptcy attorney, as the trustee should represent your interests. However, if the sum of money invested was large you may wish to retain counsel.
Answer Applies to: New York
Replied: 11/1/2011
Dan Wilson Bankruptcy | Dan Wilson
Your father is NOT represented by the Bankruptcy Administration. That is just an office in the United States Trustee office to administer the court and trustee processes. Your father needs a bankruptcy lawyer who is experienced in litigating creditor issues.
Answer Applies to: Colorado
Replied: 10/31/2011
Law Offices of Michael J. Berger | Michael J. Berger
Large creditors would benefit from having an experienced bankruptcy attorney to advise them and represent their interests in the bankruptcy case.
Answer Applies to: California
Replied: 10/31/2011
Engberg Law Office | Harry A. Engberg
I do not enough information to answer completely. If it is a Chapter 11 and large sums of money are involved, yes hire an attorney. A creditor bankruptcy attorney would be the best to hire. Attorneys not knowledgeable in bankruptcy can get you into trouble. If it is a Chapter 7 and there are assets to be sold or fraud is involved a bankruptcy attorney would be very helpful.
Answer Applies to: South Dakota
Replied: 10/31/2011
Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
What chapter undr the bankruptcy code did the company file??
Answer Applies to: California
Replied: 10/31/2011
Charles R. Nettles - Attorney at Law | Charles R. Nettles
He may or he may not need an attorney. There is no way to tell without knowing all of the specifics. Most experienced bankruptcy attorneys could give you a pretty quick answer.
Answer Applies to: Texas
Replied: 10/31/2011
The Law Offices of Kristy Qiu | Mengjun Qiu
Is he or the company being sued for anything else? I.e. fraud? if not, and If the company is already represented he probably wouldn't need his own lawyer, unless the lawyer is not looking out for his best interest, then I would recommend hiring a lawyer to look out for him. A bankruptcy lawyer will do.
Answer Applies to: Florida
Replied: 10/31/2011
Law Office of Harry L Styron | Harry L Styron
If he is an investor (i.e., a shareholder) then the absolute priority rule mandates that every other creditor gets paid before he gets anything at all. If the filing was a Chapter 11, then a plan will be prepared by the debtor and voted on by the creditors. If a Chapter 13 or Chapter 7 then there is a trustee in place who will act on behalf of creditors. There is really no point in your father going to the expense of hiring an attorney, because unless he is in the position of a creditor as opposed to an investor, he is going to get nothing unless there is something left over after all of the creditors are paid off.
Answer Applies to: California
Replied: 10/31/2011
Mikhail Law Group, APC. | Anthony O. Mikhail
Sounds like he needs an attorney that deals with creditor rights.
Answer Applies to: California
Replied: 10/31/2011
Law Office of Christine A. Wilton | Christine Wilton
I'm not sure, based upon the limited amount of information provided here whether your father needs bankruptcy counsel. I do suggest he consult with a creditor's counsel for a determination. He may have rights independent of the administration's assistance.
Answer Applies to: California
Replied: 10/31/2011
Theodore N. Stapleton, PC | Theodore N. Stapleton
It would be helpful to discuss any differences between his situation and other investors.
Answer Applies to: Georgia
Replied: 10/31/2011
