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Furr Cohen is bankruptcy counsel for a multimillion-dollar landscaping company, which previously filed a lawsuit against a married couple formerly associated with the company. Following a jury verdict in favor of our client, the married couple filed for Chapter 13 bankruptcy before a final judgment was entered. Through a review of the debtors’ tax returns, Furr Cohen uncovered property sales in another state. Further discovery by Furr Cohen revealed multiple transfers, allowing us to request that the Court convert the case from Chapter 13 to Chapter 7, which it did in a lengthy opinion. We also successfully objected to the debtors’ homestead exemption. Without their bankruptcy filing and our intervention, the homestead would likely still be protected. Ongoing litigation is expected to conclude after a judicial settlement conference scheduled for this month.
In Tampa’s bankruptcy court, we successfully resolved a contentious case involving our client and an aggressive trustee. Prior to retaining Furr Cohen, the client incurred significant defense costs. Once retained, Furr Cohen attorneys swiftly analyzed the case, proposed sensible resolutions, and achieved a reasonable settlement within a few months.
For a prominent appliance/audio distribution company operating in eight states, facing loan recall by a major bank, Furr Cohen initiated an assignment for the benefit of creditors (“ABC”). The ABC case swiftly paid off the secured lender, exceeding $20 million, and provided dividends to other creditors. This protected the wealthy family owners from liability, alleviating a significant burden.
Upon the sudden death of a business-owning spouse, Furr Cohen took over the business operations and filed an assignment for the benefit of creditors which liquidated the business within a few months. This action, undertaken at the request of the widow and Personal Representative, safeguarded both the estate and the widow’s interests.
Representing the owner of two construction companies with substantial bond claims, Furr Cohen coordinated assignment for the benefit of creditor filings in collaboration with bonding companies. Successfully liquidating the assets, Furr Cohen then guided the owner and spouse through personal Chapter 7 cases, enabling them to retain $4 million in exempt assets and obtain their bankruptcy discharges.
Furr Cohen, representing the Assignee of an online retail apparel company, navigated a pre-Assignment situation where the Assignor and its principal were in contentious litigation with an alleged minority owner. Florida’s Assignment for the Benefit of Creditors law lacks an automatic stay of litigation. Therefore, Furr Cohen swiftly negotiated a resolution that settled all pending litigation. This resolution revested the Assignor’s assets with the Assignor and provided a reasonable sum to the alleged minority owner. As a result, the online retail apparel company continues to operate successfully.
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