The Firm helps business clients and entrepreneurs reorganize intelligently, maintain financially sound business practices, recover from economic downturns, and get a fresh start when necessary, protecting their assets and defending their interests. The Firm likewise helps consumers shed their debts and realize the relief of a “fresh start”.
 
Reorganizing Debtors with Business Interests in Chapter 11
 
Forrest L. Ingram, P.C. is proud of its record in assisting struggling businesses, and individuals with business interests, to reorganize and to emerge from chapter 11 with clear goals and concrete plans for how to achieve them. Reorganized companies typically enjoy sounder business practices, focus on profitable ventures, reduce their costs, and increase the bottom line.
 
The Firm vigorously represents chapter 11 debtors, especially small businesses, most of whom realize an annual gross income between $500,000.00 and $20 million.
 
The Firm recognizes that, frequently, the major asset of many smaller businesses is the chief executive officer and his or her team, whose consistent efforts have grown the company over the years from an acorn into an oak. Those same business leaders often constitute the primary moving force in shaping a reorganized business.
 
The Firm helps reorganize corporations (for profit and not-for-profit), limited liability companies, partnerships, and individuals with business interests. The Firm has an enviable record of successful chapter 11 reorganizations. The Firm has confirmed plans for construction companies (American Underground Engineering, Inc., A & K Construction, Inc., Emerald Sewer and Plumbing, Inc., Zepeda Constructions Services, Inc., Thomas Mechanical, Inc.,and BMW Construction, Inc.), security companies (Chicago Security, Inc.), international import companies (Midwest Imports International, Inc.); professional organizations and doctors (Dr. Galo L. Tan, M.D.S.C., Affiliated Doctors of Clinical Psychology, S.C.., Dr. Richard Kortan and his wife Pamela Kortan; Dr. David Kortan), real estate businesses (Spiers Graff Spiers Partnership, Termano, LLC), promotional businesses (Headline Promotions, Inc.), architectural firms (Brook Architecture, Inc.), churches (New Mount Olive Church of Christ in God, Ark of Safety Apostolic Faith Temple, Inc.), food companies (Pizza Services, Inc.), and individuals with extensive business interests (James Collins, Michael Kuchejda, Goijko and Anjelka Ilic, Stanley & Lillian Golba, Gary and Amy Arbuckle, and Christopher Evans and June Licata-Evans).
 
Representing Business Creditors
 
The attorneys of Forrest L. Ingram, P.C sometimes represent business creditors to protect or promote their interests against certain debtors, including debtors in such mega-cases as Kmart, United Air Lines, and World Access. The Firm has also represented creditors committees (e.g., for Northern Illinois Freight Co., and for Richard and Elaine Harczak) and a Board of Directors (DeMert & Dougherty, Inc.) in chapter 11 cases. The Firm sometimes represents landlords, tort claimants, former employees, and financial institutions in dischargeability actions (e.g., Caetano v. Young, Rosser v. Rosser), or creditors seeking a money judgment against the debtor for fraud, defalcation, willful injury, malpractice, or breach of fiduciary duty. In PFG Financial Group, Inc. v. Mouton, the Firm obtained a nondischargeable judgment against the broker-debtor in excess of $300,000. The Firm also succeeded in obtaining for a landlord client from a chapter 11 commercial debtor over $100,000 in rental arrears, interest, and attorney fees.
 
Finally, for creditors unable to collect from seriously delinquent debtors who have assets, the Firm has filed involuntary chapter 11 or chapter 7 cases.
 
The Firm’s Chapter 13 Practice: Wage Earner Reorganization
 
When an individual has a job, can pay his regular monthly requirements, but is facing foreclosure or financial ruin because he has fallen behind on mortgage payments, or has amassed significant credit card debt or medical bills, or has a large judgment against him, the Firm, through the strategy of a chapter 13 filing, can hold off creditors and work out a feasible chapter 13 repayment plan for all or a portion of the debts owed. The harassment of creditors will stop immediately and the debtor will pay down debt over three to five years, then have any remaining debt discharged.
 
The Firm’s Chapter 7 Practice for Consumers: A Fresh Start
 
If an individual debtor qualifies under the new bankruptcy reform act, he can wipe out all his debt by filing a chapter 7 case. The Firm counsels the debtor on the new provisions of the Bankruptcy Code, prepares his schedules, and represents him at the first meeting of creditors. At the end of the process, the debtor will be relieved of the burdens of hospital bills, credit card debt, personal loans, and money judgments, and can face the future with renewed energy and purpose. A “fresh start.”
 
The Liquidation of Businesses
 
The Firm helps failing or failed businesses to conclude their business in an orderly way, and helps business owners to be rid of their obligation for business debts in accordance with bankruptcy law. The Firm helps the business leaders plan for dissolution and distribution of assets either through a liquidating chapter 11 case, or a straight chapter 7 case, or an assignment for the benefit of creditors.