Rountree Leitman Klein & Geer, LLC proudly announces that partners William A. Rountree, Hal J. Leitman, David S. Klein, Will B. Geer, and Alexandra M. Dishun have been honored as 2024 Georgia Super Lawyers. This prestigious recognition underscores Rountree Leitman Klein & Geer, LLC's commitment to excellence and leadership in the legal profession.

Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process includes independent research, peer nominations, and peer evaluations. Each year, only the top 5% of attorneys in each state are selected as Super Lawyers, while only the top 2.5% of attorneys are selected as Rising Stars, making this recognition a significant achievement.

"We are thrilled to have five of our partners recognized as Georgia Super Lawyers for 2024," said David S. Klein, Partner at Rountree Leitman Klein & Geer, LLC. "This honor reflects our firm's dedication to providing exceptional legal representation and our commitment to serving our clients with integrity and excellence."

Founded in 2018, Rountree Leitman Klein & Geer, LLC has established itself as a leading boutique law firm in the Atlanta area, known for its comprehensive legal services and unwavering dedication to client success. With a focus on corporate and individual bankruptcy, commercial litigation, real estate litigation, and debtor-creditor matters, the firm's attorneys combine their expertise, experience, and innovative approaches to deliver outstanding results for their clients.

Rountree Leitman Klein & Geer, LLC's team of attorneys includes some of the most respected legal professionals in Georgia, with a track record of success in these areas of law. The firm's commitment to professional excellence and client satisfaction has earned it a reputation for excellence and trust within the legal community and among clients.

Filing a proof of claim is an important step for creditors in a bankruptcy case. A proof of claim is a written statement filed with the bankruptcy court by a creditor, stating the amount of the creditor's claim against the debtor. The proof of claim must provide sufficient detail and supporting documentation to establish the creditor's right to payment. It must also comply with the requirements set forth in the bankruptcy code, local bankruptcy rules, and any applicable court orders.

The bankruptcy code provides strict deadlines for filing a proof of claim. The deadline for filing a proof of claim is set by the court and can vary depending on the type of bankruptcy case and the jurisdiction in which it is filed. In some cases, such as when a bankruptcy case is converted from one chapter to another, the deadline may be extended.

It is important for creditors to file their proof of claim in a timely manner, as failure to do so may result in their claim being disallowed. Additionally, creditors must ensure that their proof of claim accurately reflects the amount of their claim and any supporting documentation.

​At Rountree Leitman Klein & Geer, LLC, we understand the importance of filing a proof of claim in a timely and accurate manner. Our experienced bankruptcy attorneys are available to assist creditors in navigating the complex bankruptcy process and ensuring that their claims are properly and timely filed. We can assist creditors in preparing and filing their proof of claim, ensuring that it complies with all applicable bankruptcy rules and procedures. We can also provide guidance on how to properly calculate and document a creditor's claim, ensuring that it is not challenged or disallowed by the bankruptcy court.

 Contact us today to learn more about how we can assist you in the bankruptcy process.

Will Geer, a partner with Rountree Leitman Klein & Geer, LLC discusses the questions a business should ask itself when determining whether to file for Chapter 11 bankruptcy.
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As a business owner, I can tell you that operating your own ship is one of the most exciting and frightening things you’ll ever do, but the rewards are immeasurable (well, almost immeasurable). Almost every business will experience some lull in income a month or two out of the year; however, sometimes that stagnation turns into a regular monthly occurrence that results in creditors knocking down your door demanding to be paid.  It feels as if you are Atlas carrying the planet’s troubles on your shoulders, even if it is limited to your own world.  In this situation, an appropriate solution may be to file Chapter 11 bankruptcy for your business to restructure the debts of the business to give you and your company a bit of breathing room.  Before considering Chapter 11 as a viable option, you will want to ask yourself these 5 questions:

1. Is the management ready and willing to cooperate?

Filing bankruptcy should not be taken lightly and adhering to the requirements of the code, including the quarterly Trustee payments, monthly operating reports, advanced disclosure requirements, and numerous hearings will take a significant amount of time and energy from your already hectic schedule. If management is not ready and willing to take on these new responsibilities, shutting the doors or filing Chapter 7 to allow for an orderly liquidation may be the route to take.  Chapter 11 is also an expensive undertaking, so make sure there is actually something to reorganize before paying thousands of dollars in attorneys’ fees.

2. Is your product or service marketable?

In Chapter 11, cash flow is everything, and something filing Chapter 11 cannot do is increase the marketability of your business. It can, however, help increase your immediate cash flow concerns by preventing creditor collection efforts and lowering secured creditor payments.  Certain tax obligations may also be treated in the Chapter 11 Plan of Reorganization.   But one thing a Chapter 11 filing will not do is create a marketable product or service where one does not exist, so if the market is entirely tapped or your product is simply not expected to sell in the future, it may be times to shut the doors.  If you do wind up filing, the lack of cash flow will draw objections on the feasibility of your Chapter 11 Plan.  In short, if you cannot make enough money to fund a viable plan of reorganization, your case will be unsuccessful and likely dismissed.

3. Does my lender have an interest in “cash collateral”?

What is “cash collateral”, you may ask. In short, cash collateral is, among other things, cash, negotiable instruments, rents, inventory, and accounts receivables of a business in which a lender claims a security interest.  For instance, in Georgia, when a lender loans a borrower money to fund the purchase of real property, the lender will take a security interest in the real property as evidenced by a Deed to Secure Debt.  This security instrument will often contain a clause providing that all rents and income arising from the use of the real property will secure the debt obligation of the borrower. Just because your lender has an interest in cash collateral does not mean that filing Chapter 11 is impossible.  In fact, one of the first motions that a Debtor’s attorney will file in this situation is a Motion to Use Cash Collateral to allow a business to continue to operate throughout the bankruptcy.  However, be aware that attorneys’ fees, including the initial retainer, will often have to be paid from funds not categorized as cash collateral.  Otherwise, the creditor and debtor must work out some type of “carve-out” to pay your attorney. Often, the executive officers of the corporate debtor will fund the debtor’s attorneys’ fees for this reason.

4. Does my business only have one creditor?

This situation often presents itself in the case of a single piece of real property in which all the Debtor’s income is derived from the operation of that property.  In this case, there may be only one secured creditor.  If you have a company with only one creditor, filing Chapter 11 bankruptcy is probably not the best option. Doing so will only prevent foreclosure for a few months at best, as the secured creditor will file a Motion to Dismiss for “bad-faith” filing based on your inability to effectuate a viable plan. In Chapter 11, creditors are given the option to vote on the acceptance of your plan. Under certain circumstances, you may force the creditors to accept the terms of the plan; however, one of the conditions of forcing such acceptance is to have the affirmative vote of at least one impaired class of creditors. If you only have one secured creditor in one class, you will not be able to satisfy this requirement.  “But wait”, you cry, “I have a few unsecured creditors that can vote to accept the plan!”  This may be your saving grace; however, in most of these cases, the secured creditor’s lien is worth more than the value of the property.  As a result, the secured creditor’s claim will be bifurcated into a secured claim and unsecured claim.  The unsecured deficiency claim will be lumped into the general unsecured claims class with the aforementioned unsecured creditors, and because this deficiency claim will typically be MUCH larger than the aggregate of the other claims, it will control that class and result in a vote against your Plan.
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5. Do we have a Plan?

I’m not necessarily talking about a finalized plan of reorganization, but you should definitely have an idea, with the help of experience counsel, of your end-game goal.  Chapter 11 requires hours and hours of planning and communication prior to filing the petition, and prior to that petition being filed, the debtor and its attorney should have some idea of the results to be obtained whether it be to restructure short-term trade debt into a long-term liability or to force secured creditors to accept more favorable terms and consequently lower your secured payments. Going into the case without adequate preparation is simply a waste of time and money for both you and your company’s attorney.