At Hackard Law, we take professional excellence seriously. Clients are our first priority, and we serve them according to the highest ethical standards. Based in Sacramento, California, Michael Hackard has built a record of extensive experience inĀ defending borrowers and guarantors against lender-initiated actions. Hackard Law also aggressively defends against adversary claims brought by bankruptcy trustees. We perform a number of different legal services for borrowers, guarantors and adversary defendants, including, but not limited to, the following:
Actions on Guarantees: Commercial borrowings are often accompanied by guarantees. When borrowers go into default the lenders remedies against guarantors often begin. Guarantors are often shocked that a substantial part of their net worth has been put at risk by a borrower’s defaulted loan. We understand the law and the process related to guarantees and our experience has proven valuable to the defense process.
Adversary Claims: Adversary claims are often filed by bankruptcy trustees against people and entities that did business with the debtor. We understand the law and the process and can help to remove some of the mystery that adversary lawsuits entail.
Business Bankruptcies: Business bankruptcies can be quite complex. Successfully navigating the process usually involves a team of lawyers, accountants and related professionals that can effectively represent their clients throughout the process. We are often a key part of these teams.
Judicial Foreclosure: Judicial foreclosure is a creature of statute. Lenders can “hiccup” during the judicial foreclosure process and their errors can often change the tide of litigation. Understanding the complexities and time frames related to judicial foreclosures are important if providing an effective and strong defense. Hackard Law has substantial experience in this area of law.
Ponzi Clawbacks: Investment fraud is a real phenomenon. Hackard Law defends clients who have been defrauded by Ponzi schemes and then must face adversary claims from a bankruptcy trustee.
Prejudgment Attachment: Prejudgment Attachment of a borrower’s or guarantor’s assets are sometimes hailed by lenders as the “nuclear option.” When faced with this pretrial remedy it is important to understand your rights and to litigate to protect those rights.
Workouts: Loan workouts are negotiated settlements of loan defaults. Such workouts can often be tested by lenders, borrowers and guarantors alike as to whether the proposed workout is better than protracted litigation. Another way to look at this is whether litigation is the “best alternative to a negotiated settlement.” If the borrower and guarantor think that litigation will be more beneficial than a negotiated settlement or workout, then invariably the matter will proceed to litigation. The same applies to lenders. Workouts work best when the lender, borrower and guarantors truly weigh the cost of litigation against the certainty available in a workout. We help our clients to understand the workout process and to effectively negotiate “the art of the possible.”
When it comes to defending guarantors, Hackard Law comes through with an unparalleled commitment to legal excellence.