Reorganization & Business Workouts

During the past four decades, Forman Holt attorneys have represented financially troubled businesses in restructuring efforts.  The firm represents distressed businesses in a wide variety of circumstances including two party loan workouts, out-of-court restructurings and Chapter 11 reorganization proceedings.

Our firm works with our clients to assess the economic, market and legal issues relating to their financial problems, to identify realistic business goals and solutions, and to devise a strategy for resolving issues with secured parties, taxing authorities and unsecured creditors. 

When possible, the firm will strive to achieve our clients’ objectives by working with creditors to effectuate an out-of-court restructuring.  When necessary, our attorneys have the experience and expertise to file a Chapter 11 petition and to litigate with creditors or seek appropriate relief in bankruptcy proceedings including “cram down” plans of reorganization. 

In general, successful reorganization efforts do not improve with age.  Rather, they become more expensive and taxing as time goes on.  The firm has earned a reputation for moving debtors through the bankruptcy process quickly.  This often results in substantial savings on legal, accounting and other administrative expenses for our clients.

 Our attorneys remain prepared to help your troubled enterprise navigate a course for rehabilitation.

The firm successfully has guided hundreds of businesses from nearly every industry through the bankruptcy process.  It often has been a key component in assisting clients to emerge from restructuring as stronger and more viable entities.  

If a restructuring or reorganization is not viable, the firm has significant experience in representing entities in various types of liquidations, both in-court and out-of-court.  An out-of-court liquidation could be as simple as assisting an entity in a sale of assets and negotiating with creditors to take less than 100% of their debt.  An in-court liquidation could include filing a Chapter 7 bankruptcy petition in Bankruptcy Court or representing an entity in a state court Assignment for the Benefit of Creditors action.

  • Give viable enterprises the breathing room they need 
  • Advise business debtors in financial distress on the best course of action
  • Assist business debtors efficiently and expeditiously through the bankruptcy process

3 Tips For Small Business Owners In Financial Difficulty

Charles M. Forman is featured in the online column “Triple Play”, a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.

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3 Tips For Small Business Owners In Financial Difficulty

Wall Street Journal: Using Bankruptcy To “Rebirth” Companies

“Master of Disaster” Charles M. Forman uses a bankruptcy filing unconventionally, bringing businesses back to life while awaiting a sale.

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Wall Street Journal: Using Bankruptcy To “Rebirth” Companies

NJ Law Journal: When Money Problems & Marital Problems Collide

Exploring the implications of Erin Kennedy’s ground-breaking Third Circuit decision in the Ruitenberg case and still-unanswered “divorce colliding with bankruptcy” questions.

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NJ Law Journal: When Money Problems & Marital Problems Collide

Charles M. Forman Appointed To Register Of Mediators

“This honor is an opportunity for me to help litigants to resolve their sometimes complicated bankruptcy issues” says Charles Forman of his Mediation Program appointment.

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Charles M. Forman Appointed To Register Of Mediators

New Jersey Bankruptcy Lawyers Foundation Names Charles Forman President

Charles M. Forman has been named President of the New Jersey Bankruptcy Lawyers Foundation (NJBLF).

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New Jersey Bankruptcy Lawyers Foundation Names Charles Forman President