Reviews of Business Bankruptcy Law Firms and Attorneys
Filing for bankruptcy can be a stressful and confusing process. When your business is struggling, you need an experienced bankruptcy lawyer on your side. But not all bankruptcy attorneys are created equal. How do you find the right business bankruptcy law firm and attorney for your case? Here’s an inside look at what to look for when vetting business bankruptcy lawyers, along with reviews of some top-rated firms:
What to Look for in a Business Bankruptcy Attorney
Knowledge and Experience
First and foremost, you want an attorney well-versed in Chapter 7 and Chapter 11 filings. The best understand the complexities and latest developments in business bankruptcy law. Opt for a lawyer that specializes in business bankruptcies, not one who dabbles in it occasionally. Make sure they have a proven track record guiding companies like yours through successful reorganizations or liquidations. The more cases under their belt, the better.
Filing for bankruptcy is time-sensitive. You need an attorney who will respond to your calls and emails promptly. They should make themselves available for meetings and keep you updated on next steps. Responsiveness is key during such a critical period.
Every business and situation is unique. Look for a lawyer who will take the time to understand your company and goals, not one with a cookie-cutter approach. They should analyze your specific circumstances and provide tailored advice on the best strategies and solutions.
Cost will be a major factor, as legal fees can add up quickly. Opt for a firm that is upfront about its rates and billing structure. Make sure they offer flexible payment plans. Also ask if they have ways to help control costs for clients in financial distress.
Strong Negotiation Skills
A skilled business bankruptcy lawyer will tenaciously negotiate with creditors and trustees on your behalf. They should fight to protect assets and get optimal terms that give your business the best chance of emerging successfully. Look for someone with a proven ability to negotiate favorable outcomes.
Access to Experts
The best firms have networks of financial, restructuring and industry experts they can bring in to complement their legal advice. This multidisciplinary approach provides invaluable perspective when developing your bankruptcy and reorganization strategies.
Reviews of Top Business Bankruptcy Firms
Here are reviews of a few leading U.S. business bankruptcy law firms based on reputation, experience and client satisfaction:
With top-tier expertise and a national footprint, Cole Schotz earns rave reviews for its business restructuring and bankruptcy work. Their 70+ attorneys focus solely on this niche. Clients praise their “incredible responsiveness” and the way they “aggressively protect assets.” Cole Schotz has helped major corporations like Mattress Firm and Gymboree successfully reorganize.
Foley & Lardner
Foley & Lardner draws praise for “top-notch legal advice” combined with “practical business guidance.” With 90+ restructuring lawyers, they have deep benches in key jurisdictions. Clients say “their expertise across practice areas facilitates creative problem-solving.” Foley & Lardner has steered major brands like Payless ShoeSource and FullBeauty Brands through complex reorganizations.
Kirkland & Ellis
Known for handling the largest, most complex Chapter 11 cases, Kirkland & Ellis brings “top-shelf expertise and relentless commitment.” With 200+ restructuring attorneys globally, they have unmatched experience guiding mega bankruptcies. Kirkland & Ellis represented GM and Lehman Brothers in their historic filings. Clients rave “their strategic counsel is world-class.”
Akerman wins praise for “concierge-level service and partner accessibility.” Their 70+ lawyer team provides “personalized, caring counsel” through clients’ darkest days. Akerman has deep benches in hotspots like Florida and Texas. Their “tenacious, bare-knuckled negotiation” has delivered successful outcomes for retailers like Southeastern Grocers and Stein Mart.
Global firm Greenberg Traurig impresses clients with “smart, creative legal strategies” and “top-flight finance expertise.” They take a holistic approach encompassing tax, labor, litigation and more. With 200+ restructuring lawyers worldwide, GT has massive scale and influence. The firm has guided international brands like Munchkin and Chinos Holdings through complex Chapter 11 cases.
This review just scratches the surface of the many excellent business bankruptcy firms out there. Reach out to multiple top-rated lawyers for consultations. Gauge their knowledge, communication style and degree of customization. Do you feel confident they can protect your interests? That rapport and trust will be critical during the turbulent months ahead. With the right counsel, your company can emerge from bankruptcy positioned for future success.