Non-Bankruptcy Solutions For Distressed Businesses
We frequently get anxious calls from business owners because the bank is calling in their loan or a major creditor is threatening to file a lawsuit. These clients assume that they need to file for bankruptcy, but there may be an out-of-court solution, such as a loan workout with the lender.
The Cooney Law Offices provides counsel to small businesses facing debt, cash flow and financial problems. Our lawyers will explore and exhaust all the options to salvage your business and get debt relief, including Chapter 11 bankruptcy if that turns out to be the best course of action.
Workouts And Debt Restructuring
Our attorneys, Ryan Cooney and James Cooney, formerly worked for the Robert O Lampl Law Office, where they counseled many high-profile companies in the greater Pittsburgh area. With that background, they are uniquely equipped to help distressed businesses large and small with bankruptcy and its alternatives.
Chapter 11 reorganization may not be feasible or desirable. Our lawyers have helped clients address their financial straits through other options such as:
- Loan workouts and forbearance
- Loan modifications
- Bridge financing
- Debt restructuring, such as debt-for-equity swaps
- Strategic liquidations and divestitures to pay creditors
- Short sales of commercial property
On the one hand, lenders and creditors know that they have debtors over a barrel. But, if they are too heavy-handed or inflexible, they risk pushing the debtor business into default and ruin. Our lawyers’ role is to engineer solutions that keep businesses afloat but on the most favorable terms for our clients. For example, our team facilitated two large loan transactions for Fourth Street Barbecue, a major employer in Charleroi, that enabled the meat packing company to refinance its debt and fund ongoing operations.
We Make Your Struggles Our Own
Financial difficulties are stressful, especially for small business owners who are personally vested. The Cooney Law Offices is a small family-owned firm, so our lawyers can sympathize with the pressures that our clients face. They are diligent and resolution-minded and are always accessible to our clients as our team guides them through debt solutions.
We serve businesses in Allegheny County and western Pennsylvania. To arrange a consultation with our experienced lawyers, call 412-753-6272 or contact us online.
We are a debt relief agency. We help businesses and individuals file for relief under the Bankruptcy Code.