For decades, Hughes Watters Askanase has guided creditors, creditors' committees, bankruptcy trustees and individual and corporate debtors through the intricacies of bankruptcy.

From an isolated bankruptcy issue to a complete re-organization, we deliver unparalleled service and are known for working with mid-market companies with debt ranging from $1 million to $500 million. Our Business Bankruptcy practice group mitigates clients' risks associated with every phase of bankruptcy. 

Our attorneys regularly handle a wide variety of insolvency matters, in diverse venues, ranging from the relatively straightforward to the most complex. Regardless of the matter, the solutions we deliver are practical and economical  and demonstrate a commitment to adding value for clients whatever their involvement in bankruptcy cases.

Asset Sales and Purchase

Bankruptcy sales provide great opportunities for purchasers to acquire assets at bargain prices. However, bankruptcy sales contain many unique features not encountered in other contexts -- features designed to protect the rights of parties who are neither the buyer nor the seller. HWA helps parties regularly through the sales process.

Section 503(c) of the Bankruptcy Code imposes formulaic limits on severance or retention payments that a debtor can promise its employees during Chapter 11 proceedings. HWA helps debtors work around the new restrictions to accomplish largely the same results as were obtained pre-BAPCPA.

Chapter 7

Managing creditors, assets and pitfalls before and during a Chapter 7 proceeding takes the skill, foresight and communication savvy that only comes from long-time experience. Hughes Watters Askanase has overseen hundreds of Chapter 7 liquidations, always making the best of our clients' situation, whether debtor or creditor.

We have structured and negotiated intricate buy-outs of numerous businesses and assets in bankruptcy cases across the country. Our understanding of federal statutes and our depth of experience in bankruptcy matters result in superior performance -- regardless of the industry involved.  

Chapter 11

Hughes Watters Askanase makes the Chapter 11 process less painful and more profitable.  We know how to optimize interest in the case.

Our attorneys have substantial experience in the planning and execution of Chapter 11 re-organizations and asset sales as well as the lending and investing that are an integral part of these cases.

Our firm delivers optimal results and opportunities with the least disruption of our clients' business operation as is possible.

Chapter 15 

Chapter 15 is the newest chapter of the Bankruptcy Code, having gone into effect in late 2005. Because Chapter 15 is based on the Model Law on Cross-Border Insolvency that was adopted by the United Nations Commission on International Trade Law, the United States interpretation must be coordinated with the interpretation given by other countries that have adopted it to promote a uniform and coordinated legal regime for cross-border insolvency cases. HWA has significant experience in these proceedings.

Creditor Representation

Creditors can rely on HWA to advise on consumer or corporate bankruptcy debtor's cases. We actively protect creditors' rights.

Preferences and Fraudulent Transfers

HWA has vast experience in handling matters involving both the prosecution and defense of preferences and fraudulent transfers under Chapter 5 of the Bankruptcy Code. There are limitations and defenses to these actions, and HWA successfully navigates these rules and exceptions on behalf of its clients. 

Pre-Bankruptcy Planning and Restructuring

Hughes Watters Askanase has represented countless creditors and debtors in pre-bankruptcy planning and restructuring negotiations involving sales, lending and equity investments.

From a thorough pre-bankruptcy analysis to a plan that is both fair and aggressive, Hughes Watters Askanase has the people and processes in place to identify, eliminate and exploit issues before they arise.

Litigation and Adversary Proceedings

With the backing of Hughes Watters Askanase, our clients are prepared whenever an adversary wants to go to court.  We often take on clients who have consulted with bankruptcy partners who are afraid to defend their clients' position when circumstances demand confrontation and solutions.

If it becomes necessary to go to court, the depth and experience of HWA bankruptcy litigators stand ready to advise and represent clients in any adversarial proceeding or contested matter.