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Help for Attorneys and Trustees

Attorneys who don’t practice in the bankruptcy court frequently refer their clients’ bankruptcy matters to us. And bankruptcy trustees who are not attorneys or who don’t want to represent themselves frequently select Lakelaw to serve as their counsel? We are honored and appreciate the kind referrals we get from other attorneys. Check out lawyers’ testimonials on our home page to see what people think about us.

Frequently Asked Questions from Lawyers and Trustees

If we hire Lakelaw to help us in bankruptcy, can we be your co-counsel?

We welcome co-counsel relationships with referring counsel. In many chapter 11 cases, referring counsel continues to serve the debtor as special counsel under section 327(e) of the Bankruptcy Code while Lakelaw serves as general counsel during the bankruptcy process. We want to take advantage of your on-going relationship with the client and your knowledge of the client’s specific needs?

I never filed a chapter 11 case before. Will you serve as co-counsel with me?

This depends on the size and scope of the case as well as the attitude of the United States Trustee and the bankruptcy judge. We are willing to share our experiences with you and help you become familiar with the intricacies of chapter 11. It is difficult for anyone who has never handled a chapter 11 case to handle one “solo” the first time out. Even if the court does not permit co-counseling relationships, it is still possible to be involved in a chapter 11 case as special counsel under section 327(e) of the Code.

I have an ongoing relationship with the client.

We at Lakelaw respect your ongoing relationship with your clients. It’s our intention to help your clients with their bankruptcy issues and only that. We would not get involved in any other aspect of your client’s affairs without giving you every opportunity to handle the matter yourself or through other referral counsel of your choice. Naturally, we respect your relationship with your client and will keep you informed of all material developments in your case.

I am an attorney and need bankruptcy help.

We afford fellow attorneys individual attention and also provide a substantial discount from our normal hourly rates. We have represented many attorneys and have always done so with the utmost discretion. We don’t publish case studies about our attorney clients but would be pleased to discuss with you how we have helped other attorneys and can provide references from our former attorney clients to give you a greater sense of comfort.

Will I get disbarred or disciplined for filing bankruptcy.

Not unless your bankruptcy is due to some sort of misconduct.

Do you represent bankruptcy trustees?

Lakelaw represents David Leibowitz, who has been a bankruptcy trustee for more than 20 years. In addition, Lakelaw has represented other bankruptcy trustees not only in Illinois, but also from Wisconsin, Arizona and other states. Mr. Leibowitz is a former director of the National Association of Bankruptcy Trustees and was editor of its publication NABTalk. He’s published a wide variety of articles concerning issues of consequence to bankruptcy trustees and has been a speaker at national, local and regional conferences on this topic.

Cased Studies

Case Study #1

We represented attorney F – a very successful attorney in his field and an equity partner in his firm. F faced substantial liability to Bank owing to failed real estate investments. We offered the Bank a substantial settlement, which included the equity F owned in the partnership in his firm. When Bank rejected it, we filed a chapter 7 case for F and his wife. We negotiated a payment from the firm of a reduced amount of money from the capital account and F and his wife retained all of the rest of their property. F has been readmitted to equity partnership in the firm and now is quickly rebuilding his capital account.

Case Study #2

Lakelaw has represented David Leibowitz in connection with innumerable chapter 7 Trustee cases. Among the notable cases Lakelaw handled for Mr. Leibowitz includes Goldblatt’s Department Stores, Inc. In this case, Lakelaw recovered hundreds of thousands of dollars in avoidance actions. With the proceeds of these avoidance actions, he was able to pursue the officers and directors of this enterprise ultimately settling for close to $1 million. Creditors received a substantial dividend in what seemed to be a no asset case.

Lakelaw is presently representing Brenda Helms in a trustee case pending in DuPage County, Illinois and Trudy Nowak in a trustee case pending in Tucson.