Creditors have rights in bankruptcy proceedings
reditors have rights in bankruptcy proceedings
They may participate in a meeting with the bankrupt debtor to ask questions on the reasons leading to bankruptcy and the classification of certain debt, object to plans of reorganization, and even to request the automatic stay to be lifted if the debtor fails to comply with obligations created by the Bankruptcy Code.
If you are a creditor, and receive a notice of bankruptcy filing, you should consult with an experienced bankruptcy attorney right away. You may have rights to prosecute debt within bankruptcy, and the exercise of such rights are a time-sensitive matter. The earlier you communicate with an attorney, the better.Our attorneys have experience in representing creditors and debtors in bankruptcy proceedings. Most recently, one of our attorneys he formed part of the three-attorney team, led by retired Bankruptcy Judge Gerardo A. Carlo-Altieri, in charge of representing Casiano Communications, Inc., during its corporate reorganization under Chapter 11 of the Bankruptcy Code. Casiano Communications, Inc., owned and published newspapers and magazines widely circulated in Puerto Rico, such as Caribbean Business, Imagen, Buena Vida, and others.