If one of your customers or clients owes your business money and it is headed towards bankruptcy, then your money and you are in trouble. The Fox Law Corporation can advise you about your options, what to do and what not to do, and put your business in a more strategic position for the pending bankruptcy case. We’ll help you define your goals, your strategies and we will fight alongside you in the bankruptcy arena.
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.
$300,000,000 Gambling Debts
Steven Fox represented European casinos in the chapter 11 case of an individual who owed $300,000,000.00 [$300 million USD] to his creditors, largely to casinos around the world. Leading the bankruptcy side of the legal team, Steven Fox worked with the bankruptcy trustee and others to locate assets. Giving unique legal arguments, Steven Fox convinced the bankruptcy court that (1) his clients had unique claims that they could pursue globally despite the bankruptcy case; and, (2) that his clients would act as “roving ambassadors” for the bankruptcy trustee. Steven Fox helped take down a dirty bank that was laundering the debtor’s monies through false bank accounts and located a secreted high-end luxury car dealership that the debtor was trying to hide from creditors. In the end, Steven Fox recovered approximately half of his clients were owed. In contrast, the bankruptcy trustee paid about 10 cents on the dollar to the other creditors.