Bankruptcy Appeals
Bankruptcy Appellate Panel
The firm’s client was a manufacturer beset by an aggressive bank that was owed millions of dollars. During the chapter 11 reorganization, the bank sued the guarantor, who was one of the owners of the business debtor. He could not pay a multi-million dollar judgment. Steve Fox sued the bank in the chapter 11 case and obtained an injunction stopping the lawsuit against the guarantor until the plan could be confirmed. The bank immediately filed an appeal to the Bankruptcy Appellate Panel. The appeal was heard on an emergency basis in Reno, Nevada. Steven Fox appeared in person to argue the appeal and to argue that the injunctions were proper. Within a couple of weeks, the Bankruptcy Appellate Panel issued an opinion in which it found that the bankruptcy court had not committed an error by issuing the injunction. The injunction stayed in place.
Fox Law handles litigation in the bankruptcy court. Fox Law is experienced and knowledgeable in litigation matters. We develop and follow litigation strategies. We have litigated before the same bankruptcy judges for years.
We work hard to establish integrity with the judges and excellence in this arena.
Other chapter 11 firms use legal strategies when trying to reorganize a business. Those chapter 11 cases fail because not only is the wrong strategy being used, the attorney does not bring the legal and the management teams together as part of an overall strategy to identify and to try to solve the issues, e.g. financial, legal, leadership. That is why most chapter 11 firms have a high percentage of their cases fail and the businesses get shut down.
The firm’s client was a manufacturer beset by an aggressive bank which had loaned millions of dollars to the client. The client could not pay the bank back on the bank’s schedule. During the chapter 11 reorganization, the bank sued the guarantor, who was one of the owners of the business. He could not pay a multi-million dollar judgment. Steven Fox sued the bank in the chapter 11 case and obtained an injunction stopping the lawsuit against the guarantor until the plan could be confirmed. The bank immediately filed an appeal to the 9th Circuit Bankruptcy Appellate Panel. The appeal was heard days later on an emergency basis in Reno, Nevada. Steven Fox appeared in person to argue the appeal and to argue that the injunctions was proper. Within days, the Bankruptcy Appellate Panel issued an opinion protecting the company and keeping the injunction in place.
