Non-Bankruptcy Workouts
Often a business can avoid the sometimes lengthy process of going through a bankruptcy by means of a “workout,” these workouts can range from a simple out-of-court negotiated agreement between a debtor and a bank to a complex, multiparty agreement with lenders, vendors, and other creditors. Generally, the objective is to reach a consentual agreement for repayment of the debt owed to each creditor in a manner that allows the business to survive. These types of negotiations often require a high level of creativity, finese and experience. As part of its practice, Tampa-based Jennis & Bowen has extensive experience with non-bankruptcy workouts for both debtors and creditors. Florida clients seeking non-bankruptcy workout services will find that Jennis & Bowen has cultivated the relationships with auctioneers, appraisers, experts and purchasers critical to the success of a non-bankruptcy workout.
With solid backgrounds in business, Jennis & Bowen’s attorneys have the creativity and skills to evaluate these often complex circumstances, and can develop and guide your business through a non-bankruptcy workout strategy to obtain the best possible outcome. Contact Jennis & Bowen to find out if your debtor or creditor issue might be resolved through a non-bankruptcy workout.