When formal proceedings are the right path, execution determines the outcome
Not every distressed situation can be resolved outside the courtroom. When a business enters bankruptcy to reorganize, liquidate, or resolve cross-border obligations, the quality of the financial advisory work determines how much value survives the process. Lighthouse has advised debtors, creditors, trustees, and courts across hundreds of formal proceedings, bringing the operational fluency and financial discipline that judges, lenders, and committees expect from a lead advisor.
Full-spectrum bankruptcy advisory across every chapter and every seat at the table.
1. Chapter 11 Reorganization Advisory: Guiding debtors through every phase of reorganization from pre-filing planning and first-day motions through DIP financing, plan development, creditor negotiation, plan confirmation, and post-emergence stabilization. We build reorganization plans grounded in realistic projections and operational capability, not aspirational models that fail on contact with the business.
2. Chapter 7 Liquidation Advisory: Supporting trustees and stakeholders in Chapter 7 proceedings with asset identification, valuation, and disposition strategies that maximize creditor recovery. We manage the operational complexity of winding down an active business under court supervision — payroll, lease obligations, inventory, equipment, and accounts receivable — so the estate captures full value.
3. Chapter 15 Cross-Border Proceedings: Advising foreign representatives and domestic stakeholders in cross-border insolvency cases where U.S. recognition of foreign proceedings is required. We coordinate with international counsel to protect U.S.-based assets and ensure compliance with both domestic and foreign court requirements.
4. Creditor Committee Advisory: Serving as financial advisor to official and ad hoc creditor committees, providing independent analysis of the debtor's financial condition, evaluating reorganization plans and disclosure statements, and protecting creditor recoveries throughout the case.
5. Section 363 Sales:
Managing the marketing, valuation, and execution of asset sales under Section 363 of the Bankruptcy Code including stalking horse bid development, auction procedures, and sale-order compliance, to maximize value for the estate under compressed timelines.
The best outcomes start with early action.
The sooner we're at the table, the more options remain available. Reach out for a confidential conversation with our team
What bankruptcy advisory actually involves
A bankruptcy attorney manages the legal strategy — filings, motions, court appearances, and compliance with the Bankruptcy Code. A bankruptcy advisor handles the financial and operational dimensions: cash flow forecasting, creditor recovery analysis, DIP budget preparation, plan feasibility modeling, and the day-to-day management of the business during proceedings. The two roles are interdependent, and the best outcomes happen when counsel and advisor are aligned from filing through emergence or final distribution.
Not in the same case. But our experience on both sides of formal proceedings gives us a material advantage regardless of which party we're advising. When representing a debtor, we know what creditor committees will challenge. When advising a committee, we know what a debtor's reorganization plan needs to withstand scrutiny. That pattern recognition accelerates negotiations and reduces the risk of a plan failing at confirmation.
A Section 363 sale is a court-supervised sale of some or all of a debtor's assets, typically conducted through an auction process. It allows assets to be sold free and clear of liens, claims, and encumbrances, which often produces higher recoveries than alternatives. It is most appropriate when the business or its assets are losing value quickly, when a going-concern sale preserves more jobs and stakeholder value than piecemeal liquidation, or when a strategic buyer has already been identified and other bidders need an opportunity to compete.
Timelines vary widely based on the size and complexity of the case. A prepackaged or pre-negotiated plan — where key creditors agree to the restructuring terms before filing — can move through the court in 60 to 90 days. A traditional Chapter 11 with contested issues, active committee negotiations, and a Section 363 sale component typically runs 6 to 18 months. The quality of pre-filing preparation is the single largest determinant of case duration.
In some cases, yes. Our initial assessment may identify an out-of-court path — forbearance, recapitalization, or an Assignment for Benefit of Creditors — that achieves the same objectives without the cost and public exposure of a formal filing. When an out-of-court resolution is viable, we recommend it. When it is not — because of creditor dynamics, lien complexity, or the need for court-supervised asset sales — we help clients enter formal proceedings in the strongest possible position. We evaluate both paths early in every engagement.
