One of the largest high profile bankruptcy cases to hit the news is that of Bernie Madoff, whose investment scam injured a staggering number of people. As part of the resolution of his fraudulent activity, Madoff was forced into bankruptcy so his assets could be used to pay off his victims. This unfortunate scenario unleashed a slew of litigation by those injured in his dealings.
A bankruptcy of the Madoff type goes well beyond the usual filing for bankruptcy. However, it is important to note that it is not just the Bernie Madoffs of the world who can be caught up in complex bankruptcy filings that lead to litigation under bankruptcy law in Pennsylvania. Litigation involving bankruptcy requires the skilled advice of attorneys who are used to handling complex multi-party disputes, as well as complicated issues under both federal and Pennsylvania bankruptcy laws.
Issues arising in bankruptcy litigation
If problems arise in your bankruptcy, and you are drawn into litigation, seek out attorneys familiar with PA bankruptcy laws, ones with experience in the courtroom litigating complex bankruptcy issues. Every aspect of bankruptcy, reorganizations, and workouts can lead to litigation and include issues such as the following:
- Multi-party disputes
- Actions brought by secured and unsecured creditors and committees, debtors, trustees, ad hoc bondholder committees, regulators, strategic investors, equity interests, equity committees, and examiners
- Actions brought by lessors and lessees of real and personal property
- Issues relating to insider trading and transactions
- Fraudulent transfers, sales, and dispositions of collateral
When creditors do not want to accept what they are awarded, or if creditors think they are victims of fraud, they can bring a lawsuit. Angry creditors can attempt to seize assets, place liens on bank accounts or retirement funds, and garnish wages. Skilled attorneys can guide you so that you can avoid accusations by creditors that you violated bankruptcy laws or committed fraud and can represent you in case litigation does arise.
Let our bankruptcy attorneys help you
Whether you have questions about federal or Pennsylvania bankruptcy laws, or are seeking to defend a complex multi-party bankruptcy lawsuit, the attorneys of Harold Shepley and Associates, LLC can assist you. Our law firm is a full service debt relief law firm comprised of bankruptcy attorneys who can help resolve your bankruptcy issues no matter where you live in Pennsylvania. Contact us at 877-533-3389 to speak to one of our lawyers. We are happy to answer your questions about how federal and Pennsylvania bankruptcy law may apply to your particular situation.