The Dragich Law Firm represents debtors, creditors’ committees, institutional and individual creditors, secured parties, venture capitalists, equity holders, trustees, receivers and other parties in interest in bankruptcy or restructuring proceedings in Michigan and throughout the United States. We have particular expertise counseling clients with bankruptcy and insolvency issues related to the automotive industry.
We have represented a wide range of distressed companies, from closely-held family businesses to billion dollar companies. Our attorneys begin every distressed company engagement by quickly gaining a thorough understanding of the business situation and issues, and then working with management and other professionals to identify the best possible strategy to resolve the issues the company is facing.
A path forward may involve a corporate turnaround executed either out of court or in Chapter 11 bankruptcy or it may involve a sale, or a wind-down of all or part of the business. In many cases, a combination of tactics are used to maximize the value of the business and its assets, as well as to limit liability. Our role is to help the client anticipate issues, evaluate risks, determine the best course of action, and implement the strategy—as efficiently and expeditiously as possible.
We have significant experience serving as legal counsel to receivers, Chapter 11 trustees, and liquidating trustees in connection with the wind-down of businesses and liquidation of assets. We help fiduciaries uphold their legal obligations while winding down businesses and distributing assets to creditors in accordance with applicable rules of priority.
Our firm vigorously represents the interests of individual and business creditors involved in foreclosures, workouts, collection actions and bankruptcies of all kinds. We use a wide variety of creditor remedies, debt restructuring techniques and workout structures to assist creditors in obtaining repayment of debts, recovery of collateral and foreclosure of real property.
We represent lenders, secured creditors, creditors’ committees, lessors, guarantors, unsecured creditors, shareholders, individuals, and others whose rights and economic interests are at stake. From enforcing security interests, to negotiating forbearance agreements, to collecting debts in bankruptcy, we help our clients achieve the greatest recovery possible.
- Represent Court-Appointed Receiver of Sakthi Automotive Group USA, Inc., a Tier 1 automotive supplier, approximately $150 million in annual sales to customers including General Motors, Ford Motor Company and Volkswagen; United States District Court, Eastern District of Michigan.
- Represent Court-Appointed Receiver Gene R. Kohut of Conway Mackenzie, Inc. of Heritage Sportswear, Inc., a leading, national apparel retailer; United States District Court, Northern District of Georgia.
- Represent Court-Appointed Receiver of Edwards Brothers Malloy, Inc., one of the largest independent book and journal printing companies in the United States with over $110 million in annual sales and in business for more than 125 years; State of Michigan, Washtenaw County
- Represented principal shareholders of Tier 1 automotive supplier in out-of-court workout sale to competitor Tier 1 supplier