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Not even the most capable and careful lender or creditor realizes a 100 percent repayment rate. When the quality of a credit deteriorates, it is critical to find knowledgeable legal counsel to assist in evaluating workout options, security interest enforcement rights and bankruptcy risks. Bean, Kinney & Korman has long been recognized in Northern Virginia and the Washington, D.C. metropolitan area for skillful advocacy in every aspect of creditors’ rights enforcement.

Bankruptcy Representation

We are well regarded and active in the bankruptcy arena. Attorneys at our firm have significant experience in all aspects of creditor and non-debtor side representation of all chapters of bankruptcy. Our attorneys regularly appear in all bankruptcy courts of Virginia, Maryland and the District of Columbia, and are active participants in the bankruptcy Inns of Court program. We are known for our perseverance and are prepared to pursue our lender and creditor clients’ interests aggressively, whether by obtaining cash collateral protection, relief from stay or favorable reorganization plan terms. We regularly assist secured and unsecured creditors, as well as other interested parties, in bankruptcy matters, including landlords, tenants, asset purchasers and vendors. We zealously defend parties being pursued in avoidance matters for return of alleged fraudulent transfers or preferential payments. We also prepare and defend claims filed against bankruptcy estates. We understand crisis situations such as a pandemic present a particularly difficult time for landlords and tenants. We are highly experienced in addressing our client’s commercial lease issues, both outside of bankruptcy and in the context of a bankruptcy case.

On the debtor or borrower side, if your business finds itself under extreme financial pressure, our firm can assist with out-of-court loan workouts and other debt, contract or lease restructuring efforts. We can advise as to when, and if, you should start to consider bankruptcy as an option to either liquidate assets or restructure debt through either chapter 7 or 11, including the Small Business Reorganization Act.

Understanding the Credit

Before launching into collection litigation, we assess the lender’s options and exposure. We want to be certain that opportunities to improve our client’s position or to minimize the risk of a lender liability claim are not lost in a rush to the courtroom. Our understanding of how to build the strongest case in court gives us the edge in documenting forbearance agreements and other loan workout structures.

Comprehensive View of Lender Needs

Our firm’s extensive representation of lenders in making loans enhances its strength in credit enforcement. We understand that the goal of the lender or other creditor is to maximize the amount recovered on the outstanding debt owed. We work to develop a cost effective action plan to achieve such goal. When a lender needs to move quickly to protect its position, it will not be delayed by any lack of experience on our part in dealing with title issues, lien perfection questions, environmental considerations, zoning matters, corporate authority issues and surety bond claim requirements.

We offer a full range of credit enforcement tools including:

  • pre-judgment attachment
  • asset seizure
  • rent capture
  • receivership
  • foreclosure
  • asset liquidation
  • collection litigation
  • enforcement of guarantor and surety obligations
  • garnishment
  • setting aside fraudulent and voluntary conveyances
  • execution on judgments

Lending Industry Familiarity

We have enjoyed the confidence of regional and national lenders and asset portfolio managers as a law firm that consistently delivers value to maximize our clients’ return in distressed circumstances. We understand the lending and banking industry and never lose sight of the business considerations that are at the heart of credit enforcement strategy. If you have credit enforcement needs that demand responsive, knowledgeable and capable legal support, we are ready to assist.

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