BANKRUPTCY PRACTICE

The BODELL, BOVÉ, GRACE & VAN HORN bankruptcy practice represents creditors with different types of claims in Chapter 11 cases. The Firm has presented claims for commercial creditors, personal injury claimants, reclamation claimants, insurance companies, and others. We regularly serve as local counsel for out-of-state attorneys.

The Firm regularly handles the defense of bankruptcy preference claims. In general, we first evaluate the claim to determine whether it may be challenged under section 547 of the U.S. Bankruptcy Code. The primary defenses are payments made outside the 90-day preference period, payments made in the ordinary course of business, and payments made as a contemporaneous exchange for new value given to the debtor. Depending on the strength of our position, we also can engage as appropriate in negotiations to achieve a compromise settlement of the claim. Certainly retaining counsel and responding to the Complaint puts the client in a stronger position vis-à-vis the debtor/plaintiff.

The BODELL, BOVÉ, GRACE & VAN HORN bankruptcy practice is headed by Bruce W. McCullough in the Firm’s Wilmington office.