Bankruptcy

We focus on the rights of the creditors whose indemnitor petitions for bankruptcy, whether that be via a Chapter 7, 11, or 13 action. The primary creditors are surety companies and insurance carriers. We are skilled in preparing Proofs of Claim and asserting the various contractual, statutory, legal, and equitable rights that sureties and insurance companies have with respect to each claim. We understand the contractual provisions in indemnity agreements as well as how various provisions can be added at the underwriting level to proactively provide better security, collateral, and overall protection to sureties and insurance carriers. We’re also knowledgeable about the Uniform Commercial Code and perfecting the security interests of sureties and insurance companies in advance of a bankruptcy action by filing a UCC Financing Statement. The proactive measures engaged by our firm in advance of an indemnitor’s petition for bankruptcy are helpful in mitigating a creditor’s claim from being treated as unsecured and/or non priority.

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