Steven H. Silton, a Partner in the
Minneapolis office of Hinshaw & Culbertson LLP, authored the article, “Counseling Clients in Financial Distress,” which appears in the November 2011, issue of
Financier Worldwide. The article discusses the importance of bankruptcy lawyers assisting their individual clients in distress as much with the psychological issues that permeate the bankruptcy process as with the actual legal work.
Writes Mr. Silton, “Understanding the psychology of failure, particularly as most failed businesses involve individuals who have a history of spectacular success, is equally or more important than addressing the legal mechanisms of a workout.” He adds, “Lawyers have intimate and ongoing contact with clients in various stages of distress, and should be cognizant of how their counseling impacts their clients’ emotional health.”
Steven Silton represents small to mid-sized corporations, banks, credit unions, financial groups and professional athletes and sports franchises. In his corporate practice, he counsels his clients on purchase and sale of businesses, secured financing transactions, securities placements and negotiation of corporate documents. He often consults and/or associates with lawyers regarding their financially distressed business clients, has been instrumental in the reorganization of a number of businesses and has been appointed as counsel for creditor committees. Mr. Silton also applies his corporate experience in the representation of professional athletes, agents and franchises, documenting everything from endorsement contracts to secured financing deals.
Hinshaw & Culbertson LLP is a full-service national law firm providing coordinated legal services across the United States, as well as regionally and locally. Hinshaw lawyers represent businesses, governmental entities and individuals in complex litigation, regulatory and transactional matters. Founded in 1934, the firm has approximately 500 attorneys in 24 offices located in
Arizona,
California,
Florida,
Illinois,
Indiana,
Massachusetts,
Minnesota,
Missouri,
New York,
Oregon,
Rhode Island and
Wisconsin.