Bankruptcy, Insolvency & Creditors’ Rights

First and foremost, Axley’s Bankruptcy, Insolvency, and Creditors’ Rights Attorneys view themselves as problem solvers. With their experience handling thousands of foreclosures, bankruptcies and other troubled loan situations, Axley’s attorneys have “seen it all,” therefore, they can lead you, your bank or company through the sometimes confusing options available, always with the goal of protecting your collateral and maximizing your recovery.

Axley’s Creditors’ Rights Attorneys have substantial experience representing lending institutions and other creditors in protecting their rights when the customer stops paying or other problems arise. With their vast experience, knowledge, and skill set, Axley’s attorneys have the capability to effectively and efficiently handle “straight forward” foreclosures or collection matters, but our clients truly value our insight and guidance when confronted with the out-of-the-ordinary. We believe that true value comes from understanding early on in a representation what potential pitfalls or problems might arise down the road, and guiding our clients away from those problem areas.

Effective representation in this complex and evolving area of the law demands knowledge of the established legal principles, as well as experience and common sense to understand the personal and business decisions at play. Our bankruptcy, insolvency and creditors’ rights attorneys meet the highest standard of excellence in this area, and regularly lecture on these topics to other lawyers and to financial services providers.

The firm’s business group concentrates their practice in the representation of creditors in workout situations, state court proceedings (including Chapter 128 Proceedings) and bankruptcy court. Services include:

BANKRUPTCY

Few areas of the law are as complex or specialized as bankruptcy law, and our attorneys possess the requisite skill and expertise to guide our creditor clients to maximizing their potential recovery when a customer, client, or borrower declares bankruptcy. Whether the filing is made under Chapter 7, 11, 12, or 13, our attorneys have experience in advising the most prudent and cost effective course of action. Our bankruptcy attorneys have extensive experience in representing lenders and creditors in bankruptcy proceedings including prosecution and defense of adversary proceedings, defense of preference claims, obtaining relief from the bankruptcy stay, objecting to a debtors’ discharge, negotiating, drafting and working with debtors’ counsel with regard to cash collateral agreements and proposed plans reorganization.

FORBEARANCE AGREEMENTS/WORKOUTS

Our attorneys have negotiated and drafted hundreds of forbearance, standstill, liquidation and other such agreements on behalf of our bank clients. We believe that such agreements often provide an excellent opportunity to correct any issues that might be present in loan documentation, or in assisting our bank clients in maximizing their eventual recovery if the borrower is unable to work out their troubled loans.

FORECLOSURES, REPLEVINS AND COLLECTIONS

Workouts are not always a viable option for every unstable loan relationship. Our attorneys are prepared to assist lenders in maximizing their recovery on special assets through foreclosure, replevin, the sale of secured collateral, and other collection methods. Where a viable business or commercial entity is involved, we are well-versed in the appointment of a receiver under Chapter 813 of the Wisconsin Statutes.

CHAPTER 128 PROCEEDINGS

Axley attorneys are amongst the leading lender attorneys in Chapter 128 receivership proceedings in the State of Wisconsin, having represented lenders in the most complex proceedings throughout Wisconsin. In addition, Axley’s expertise and experience help our clients achieve better results, whether as the lead creditor, other creditor, or purchaser of assets. Axley attorneys have also served as trustees and counsel for debtors in all types of workout proceedings.

NON-BANKRUPTCY ATTORNEY ASSISTANCE

Axley attorneys regularly provide advice to attorneys who do not specialize in insolvency and bankruptcy related issues.

LENDER LIABILITY

Lenders, purchasers of loans, and collection agencies occasionally – and in recent years with increasing regularity – confront suits by borrowers claiming violations of state and federal laws. Our attorneys have experience and skill in defending and negotiating resolutions to such claims, including alleged violations of the FDCPA, FCRA, TILA and the Wisconsin Consumer Act.

Client Successes

Some of our past experience in the field.
$26.5 Million Refinance Closing
Attorney Ed Lawton and Attorney Don Murn represented a client in the successful completion of a $26.5 million refinance transaction. The transaction required the client to defease their existing mortgage loan. Attorney Lawton and Attorney Murn dealt with the complex array of loan and defeasance documents on behalf of their client to complete the transactions and also guided the client and the other parties through the complex multi-tier ownership structure that governed the underlying real estate asset.
Representation of Lenders in Bankruptcies
Regular representation of lenders in bankruptcies, including farms, real estate, service organizations and manufacturing
Utilized Chapter 128 Proceedings to Maximize Lender / Client Receiving Multimillion-Dollar Payment on Sale of Assets
On numerous occasions utilized Chapter 128 proceedings to maximize a lender/client receiving multimillion-dollar payment on the sale of assets secured to it by obtaining a going concern value for the assets owned by an insolvent borrower

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