Bankruptcy, Insolvency & Workouts
Restructuring, insolvency, and creditor strategy for companies and stakeholders under real financial pressure.
When a business runs out of runway, the questions stop being theoretical. Payroll, secured lenders, tax authorities, landlords, and litigation deadlines all arrive at once, and the wrong sequence of decisions in the first two weeks tends to define the outcome.
Green & Sklarz builds restructuring strategy for that moment. We represent Chapter 11 debtors, out-of-court workout candidates, secured and unsecured creditors, DIP lenders, official and ad-hoc committees, bondholders, equity holders, landlords, and boards of financially stressed companies — often in the same industries, and often against each other. That two-sided perspective is what allows us to build plans that actually hold together in court.
The practice sits directly against our tax controversy work, which is unusual. Businesses in distress almost always have federal and Connecticut tax exposure, and a Chapter 11 plan is often the cleanest way to resolve IRS and DRS liabilities alongside secured debt. We treat those problems as a single problem.
Service scope
Going-concern reorganizations, prepackaged and prenegotiated plans, and workout structures that avoid a filing when the economics allow it.
Chapter 11 resolution of IRS and Connecticut DRS liabilities, discharge of qualifying taxes, and coordinated strategy with our tax controversy team.
Official unsecured creditor committees, ad-hoc committees, bondholders, DIP lenders, and secured lenders across contested confirmations, plan negotiation, and Chapter 5 avoidance actions.
Section 363 sales, credit bids, stalking-horse structures, and negotiated asset acquisitions from operating debtors and trustees.
Commercial landlords dealing with tenant filings, lease assumption and rejection, cure disputes, and administrative claims.
Fiduciary-duty guidance for boards, directors, and officers of financially stressed companies, including the zone-of-insolvency decisions that create personal exposure.
Asset-based facilities, intercreditor arrangements, UCC issues, and enforcement remedies.
D&O and other coverage disputes that arise out of insolvency and post-confirmation litigation.
- Middle-market and closely held businesses evaluating Chapter 11 or a workout
- Official and ad-hoc unsecured creditor committees
- Secured lenders, DIP lenders, and bondholders
- Equity holders in restructurings
- Landlords, vendors, and licensors with distressed counterparties
- Boards, directors, and officers of financially stressed companies
- Buyers of distressed businesses and assets
Aligned professionals
Bankruptcy litigation, commercial disputes, and probate appeals.
Complex fiduciary, commercial, and bankruptcy litigation.
IRS representation across all administrative levels; tax and bankruptcy support.
Business bankruptcy litigation, appeals, and corporate transactions.
Commercial litigation, workouts, and bankruptcy adversary practice.
Bankruptcy, commercial litigation, and the intersection of tax and insolvency.
Common questions
When should a company actually call a restructuring lawyer?+
Before covenants trip, before payroll misses, and before a lender declares default — not after. The optionality collapses quickly once creditors mobilize. Even a single confidential conversation about likely paths, tax exposure, and personal risk to directors is usually worth the call.
Chapter 11 or an out-of-court workout?+
It depends on how many creditor voices need to be bound. A workout works when a small number of institutional creditors will cooperate. Chapter 11 becomes the right tool when trade debt is scattered, executory contracts need to be reshaped, tax liabilities need to be resolved, or a sale needs the protection of a Section 363 order.
Can tax debt be discharged in bankruptcy?+
Some of it, under specific timing and filing rules — and often not the categories clients assume. We evaluate discharge eligibility as a threshold matter, alongside offer-in-compromise and installment options, before recommending a chapter.
We're a creditor. Do we really need our own counsel?+
If the debtor's case affects a meaningful receivable, a lease, a lien priority, or a preference exposure, yes. Committee representation and individual creditor advocacy are separate roles, and silent creditors typically recover less.
How quickly can you move?+
Emergency first-day motions and pre-filing planning can be assembled on days, not weeks, when the facts require it. Call the firm directly for time-sensitive matters.
Ready to talk through the matter?
Confidential consultations. Call the firm directly, or send a short note and we'll respond.