Although most bankruptcy cases are commenced with the filing of a voluntary petition for relief by the debtor, there are instances where it is advantageous for creditors to commence an involuntary case against a debtor. By way of example, where a particular creditor is about to obtain possession of assets of the debtor, other creditors may wish to file an involuntary petition to prevent the transfer of assets. Similarly, where the debtor has repaid favored or insider creditors, other creditors may wish to invoke the ability of a bankruptcy trustee to recover those transfers as preferential.
James Olson has represented petitioning creditors in multiple involuntary cases since moving to Baltimore in 1990. The debtors against which involuntary petitions were filed include a local department store, a car dealership, a technology company, a chemical manufacturer, a national chain of learning centers, and others. Frequently, a debtor contests an involuntary petition, requiring litigation to determine whether the bankruptcy case will go forward. Mr. Olson has experience conducting the pretrial procedures and trying a contested involuntary petition.
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