Corporate and Business Law: Bankruptcy, Reorganization and Creditor's Remedies


Occasionally, businesses and individuals find themselves, or their customers, in financial difficulty. This situation affects not only the financially troubled entity, but its creditors, employees and customers as well. At Leonard, O’Brien, Spencer, Gale & Sayre, Ltd., we have dealt with virtually every aspect of bankruptcy and reorganization by protecting our clients’ interests in those proceedings.

Our experience includes the representation of both secured and unsecured creditors of all types in bankruptcy proceedings, including major financial institutions and non-bank lenders as well as community and outset banks. We also represent individuals and companies as debtors in their bankruptcy proceedings.

Five attorneys in our firm have significant experience in the areas of bankruptcy and reorganizations. Among them are a member of the Minnesota Panel of Trustees in Chapter 7 Cases, appointed by the United States Department of Justice, and attorneys who have been frequent lecturers on lender and bankruptcy issues.

Promptness, Communications and Efficiency

At Leonard, O’Brien, Spencer, Gale & Sayre, Ltd., we recognize that in situations involving financially troubled entities, prompt action is critical. Our clients benefit from the prompt attention we give to their matters. We also recognize that our clients desire frequent reports on the status of their pending matters. We provide regular and periodic status reports to inform our clients.

Finally, we pay close attention to our attorneys’ time, so our fees are not disproportionate to the property or value in question.

Services for Lenders and Creditors

We represent lenders and other financial institutions in state and federal courts and in Bankruptcy Court. Our services include significant experience in the following areas:

  • Workout Matters and Reorganization Plans
  • Lender Remedies
  • Collections
  • Replevin Actions
  • Loan Documentations and Closings
  • Real Estate Foreclosure by Action
  • Attachments and Lift-Stay Motions
  • Advice and Counseling on Lender Liability
  • Litigation 
Representative Matters

Our representation of lenders and creditors includes the following matters:

  • Representation of a major lender in the Flight Transportation Corporation litigation to obtain the lender’s collateral and assert a $1.5 million litigation claim on behalf of the lender
  • Representation of suppliers and service providers whose customers have filed bankruptcy and also in situations where bankruptcy has not yet been filed
  • Representation of corporate clients on accounts receivable collection matters
  • Representation of lenders from the initial documentation stage of the loan, to closing and perfection of security interests in collateral assets of the borrower.


Services for Debtors

At Leonard, O’Brien, Spencer, Gale & Sayre, Ltd., we also work with companies or individuals involved in bankruptcy proceedings. Our experience includes representation of a major trucking company and a major corporate farming operation in their respective Chapter 11 cases.

Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. is anxious to put our experience to work for you in a prompt and efficient manner in any workout, reorganization, bankruptcy or collection action. For more information about our services or our firm, please contact us.