Principals & Shareholders

Principals and controlling shareholders typically require their own bankruptcy attorney when their businesses file for bankruptcy because the bankruptcy attorney for the business will have actual or potential conflicts of interest. The bankruptcy attorney for the business does not represent the interests of the principals or controlling shareholders even in closely held corporations. It is important for principals and controlling shareholders to understand their rights and the potential pitfalls when their business files for bankruptcy. Ashford Schael provides cost effective legal representation of principals and controlling shareholders in business bankruptcy cases.

Principals and controlling shareholders are often the target of avoidance actions, including fraudulent transfer, preference and turnover actions, and other state law actions by creditors' committees, liquidating trustees and bankruptcy trustees. Ashford Schael defends principals and shareholders in all types of bankruptcy litigation.

If you are a principal or controlling shareholder of a bankruptcy debtor or a business that is considering filing for bankruptcy, call Ashford Schael now at 908-232-5566 to speak to a bankruptcy attorney or contact us by email to find out more about our cost effective legal representation.