David R. Haberbush, principal of Haberbush, LLP, is marking more than 40 years as an expert bankruptcy and insolvency lawyer.
Long Beach, California–(Newsfile Corp. – July 31, 2023) – California-based law firm Haberbush, LLP is marking its principal David R. Haberbush’s 41 years in the profession, specializing in matters relating to bankruptcy and insolvency.
Over the years, Haberbush has handled numerous cases in debtor-creditor relations, encompassing a wide range of legal processes, including debt collection, debt enforcement, judgment, bankruptcy and bankruptcy alternatives, reorganization, and liquidation. He has represented clients in matters pending before the United States Supreme Court, the United States District, United States Bankruptcy, State Appeals Court, and Superior and Municipal Courts. Established in 1996, Haberbush, LLP provides fiduciary services in the insolvency field, representing people that owe money or people who are owed money.
According to Haberbush, the debtor-creditor relations area is dependent on the economic cycle. It was really robust in the 1980s, when he entered the practice, continuing into the 1990s. In the early 2000s, it somewhat dipped until later in the decade, picking up during the Global Financial Crisis until around 2012.
Haberbush says that the sector is beginning to pick up again in the post-pandemic period, as economic support measures from the US governments are now being wrapped up, with the last payments presently being made to businesses. These include PPP Loans, SBA Loans, and employment tax credit.
In the more than 3 years since the pandemic began, businesses have received at least four months worth of their gross revenue in free money. Even though these businesses’ revenues declined, it was enough to make the ends meet for most. However, once the support ends, Haberbush predicts the US economy will see some insolvency issues similar to what Europe is currently experiencing.
“Despite the pandemic being in the rear-view mirror, we are not seeing revenues increasing for many businesses right now,” Haberbush says. “With the government prop-ups going out, I think there’s going to be some financial distress out there, particularly for consumers. And, if the consumers aren’t spending money, then it’s going to rip all the way through the economy.”
According to Haberbush, his philosophy behind his four decades in the bankruptcy and insolvency law practice is transparency. Upon beginning a relationship with a client, his first step is to determine the client’s objectives and develop a strategy to accomplish those objectives.
Once a plan is in place and he has a clearer picture of the client’s goals, he makes sure that he is completely upfront with clients, and, if their goals are something the firm cannot achieve, it’s not unheard of for them to turn away a client.
“Sometimes, lawyers and firms, rather than being dishonest, often end up overselling themselves and creating expectations that are unreasonable. I want to avoid that, that’s why I make it a point to be very transparent with our clients, and that has become a key to our success. I’m not out here just to make money. My mission is to help people.” he says.
Name: David Haberbush
Source: The Newsdesk
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