SEVEN CONCEPTS
With our debtors, the narrative can
be simple. State the number of
years they have been married and
have young children. In an effort to
do well, the husband started his own
construction company. Describe
what work the company does. Give
some success stores and include
quality pictures of the construction
work in the motions. Find favorable
online reviews.
Describe their
hopes for the future. Everyone
has empathy for a family trying to
succeed. Explain the problems
and the likely solutions. Tell the
court how much time you think the
debtors will need to implement the
solutions.
Conclusion
Most attorneys handling chapter
11 cases don’t get it. You can by
applying the seven Concepts. The
statutes do not make a chapter
11 case successful; it is the other
stuff, knowing how to handle a
small chapter 11 case with flawed
people; knowing the end game -
the exit from chapter 11 - before the
case begins. Chapter 11 requires
you to identify the problems and
also work with the debtors to solve
these problems so that they can
have a feasible and confirmable
plan. A successful chapter 11
includes teaching debtors to accept
responsibility for their failures,
including the failure to pay their
creditors. A good chapter 11 case
means that debtors follow the rules,
not only the rules of chapter 11 but
the rules for running a business or a
home properly. Finally, a successful
chapter 11 case is one in which you,
the attorney, develops a compelling
case narrative.
When you have to be right.
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National Association of Consumer Bankruptcy Attorneys
Spring 2018
CONSUMER BANKRUPTCY JOURNAL
49