Bankruptcy Law Firm Success Magazine
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What Bankruptcy Firms Need to Know When They Are Moving Into a Practice Management System
By Pegeen Turner
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A bankruptcy firm decides to switch practice management systems. The demo looks impressive and everyone is excited.
The migration is scheduled and you are ready to go. Then, reality sets in. Data is not where it should be and financials and accounts receivable are off.
Reporting does not appear to be as robust as it used to be. Everyone is frustrated. How do you prevent this from happening in your firm?
Insolvent Clients: Ethical Decision-Making Before, During, and After Bankruptcy
By Jeffrey Cuningham
Two weeks before filing for bankruptcy, a client pays your firm a substantial retainer. Six months later, a trustee demands disgorgement and questions whether your disclosures were complete.
Meanwhile, the client insists you “knew what they meant” when they left an asset off the schedules.
Insolvency magnifies every ethical pressure point in legal practice.
The tensions between duties to clients, courts, creditors, and a lawyer’s own risk exposure do not begin when a bankruptcy petition is filed.
Ethical decision-making is required before bankruptcy is contemplated, during the case, and even after discharge or dismissal.
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