B. Lane Hassler, P.C. attorney at law in Chicago and New York

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Chicago Office
1016 West Jackson
Suite #100
Chicago, IL 60607
Tel: 312-893-0551

New York Office
80 Broad Street
Fifth Floor
New York, NY 10004
Tel: 877-394-2185

lanehasler@blhpc.com


BLHPC NEWS ARCHIVE - 2012



VIEW B. LANE HASLER, P.C. CURRENT LEGAL NEWS - 2014

Dec 2012

B. Lane Hasler PC handled the out-of-court orderly liquidation of two related businesses by negotiating an arrangement with two secured lenders whereby the owners would handle the sale of the assets and collection of receivables. This project also involved negotiating exit agreements with the two landlords and the release of personal guaranties. The time and cost of closing these two businesses was a fraction of what it would have been in bankruptcy.

Nov 2012

B. Lane Hasler PC assisted a law firm which did not have "in-house" bankruptcy expertise in evaluating a claim against one of its clients relating to preferential transfer liability. The joint effort resulted in a negotiated settlement of the bankruptcy trustee's demands at a cost which was less than half of the demand and avoided the significant legal fees and costs associated with a trial on the matter.

Oct 2012

B. Lane Hasler PC negotiated a delicate family matter for the owners of a business client involving the distribution of an estate and potential related litigation. This is admittedly on the edge of the typical matter handled by the firm, but illustrates the scope of services provided and the fact that the skill set required in traditional business matters has application to personal matters too. The family litigation was avoided and the estate distributed in a manner the opposing sides accepted.

Sep 2012

B. Lane Hasler PC completed the settlement of fraudulent transfer and preferential transfer claims alleged by a chapter 7 trustee against an individual former officer of a debtor. The claims were in excess of $1 million and were resolved for a fraction of the alleged liability with the settlement payable over time. The settlement was achieved through a carefully documented outof- court negotiation in which both the legal and factual basis for the claims was refuted. The settlement itself was prompted by the client's desire to avoid the litigation cost and personal impact of an actual lawsuit.

Aug 2012

B. Lane Hasler PC represented a $2 million revenue business in setting up a limited liability company to assume the operations of a competitor in a friendly transaction which brought the owners of the competitor into the business as employees and allowed the opportunity to workout the competitor's debts while preserving its ongoing operations. The transaction documents were structured to protect the client from the competitor's liabilities while capturing the sales opportunities. Since many of the competitor's creditors also did business with the client, this was a unique opportunity to arrange creative deals to resolve these claims. The ongoing sales of the competitor allowed the client to break into new territories.

July 2012

B. Lane Hasler PC obtained the removal of two six-figure mechanics liens against a client's home filed by subcontractors who were not paid by the general contractor which had gone out of business. The client had paid the general contractor which failed to use the funds to pay the subcontractors on the client's project.

June 2012

B. Lane Hasler PC worked with a $10 million revenue manufacturing company and its accountants to acquire the assets of a financially troubled competitor in a private transaction which was structured to insulate the client from claims against the selling company.

May 2012

Lane Hasler negotiated a forbearance agreement with a regional bank for a $2 million revenue service company which had fallen behind on its mortgage payments for its office building. There structured note gave the client, and its guarantor owner, the time to find replacement financing or arrange an orderly sale and lease-back of the office building.

Apr. 2012

B. Lane Hasler PC represented a company sued by a chapter 7 trustee to recover payments made to the company using funds belonging to the bankrupt debtor company. The chapter 7 trustee claimed the owner of the bankruptcy debtor company used company funds to make personal purchases and so that money had to be returned under the "constructive fraudulent transfer" statute. B. Lane Hasler developed a series of defenses for his client company that set the stage for a negotiated settlement under which the client will repay 20% of the amount claimed by the chapter 7 trustee over two years without interest. The total cost of the settlement was far less than the estimated cost of litigating the case in bankruptcy court.

Mar. 2012

B. Lane Hasler PC represented a group of creditors through a common interest agreement in conducting discovery of a construction company and its owners with the end result being the uncovering of previously undisclosed assets available to pay a greater percentage of the creditors' claims than was originally offered.

Feb. 2012

B. Lane Hasler PC prevented a debtor from rushing a chapter 7 bankruptcy filing past creditors where the debtor had sufficient income to pay creditors through a chapter 13 plan and was attempting to game the system by falsely showing such debtor did not qualify for chapter 13. Upon confirmation of a chapter 13 plan, creditors are expected to receive a distribution of 50% of their claims whereas in the debtor's original chapter 7 bankruptcy case the creditors were projected to receive nothing.

Jan. 2012

B. Lane Hasler PC resolved various notices of mechanics lien and actual filed liens arising from the failure of a general contractor. The property owners were protected from most liens through defenses identified and asserted by B. Lane Hasler PC while the few liens that were legally valid were resolved through settlements that saved the property owners money even after legal fees and costs. The fact that the liens were resolved within a two months of filing and without litigation were additional benefits to the property owners.

The information on this website is for general information purposes only. Nothing on this website should be taken as legal advice for any individual case. The information on this website is not intended to create an attorney-client relationship. BLHPC only accepts clients after personal consultation and execution of a written retainer agreement.


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