Dave Rich is an experienced business lawyer and entrepreneur who helps companies and individuals throughout Colorado. He represents both debtors and creditors, often involving distressed small businesses and entrepreneurs in workouts and bankruptcy, as well as general creditor and creditor committee representation. For example, Dave helps:
- Business owners and entrepreneurs get a “fresh start” after a business failure
- Creditors in protecting their rights through the bankruptcy process
- Companies and individuals looking to purchase assets through the bankruptcy process
Dave also does general commercial litigation often related to distressed business issues. Dave has helped businesses expand by assisting clients in purchasing wanted assets from bankruptcy estates.
Business owners often come to Dave, convinced that bankruptcy is their only option. "What sets me apart," he explains, "is that I use the bankruptcy process as only one of the many tools available to help businesses protect their viable assets, minimize damage to guarantors and keep our client in business." Businesses and individuals from a wide variety of industry sectors seek Dave's guidance. He has represented resort owners and developers, manufacturers, banks and other lenders, real estate interests, retailers and other business entities.
His background as a businessman gives him a unique perspective on his clients' most pressing problems. He’s been in their shoes – he owned and operated several businesses, including a retail scuba diving store, a private social club and a medical device company. Dave has also taught business law at the college level and currently teaches legal issues affecting businesses at the Aurora Small Business Development Center.
Case Study: Owner Needs to Liquidate Company But Wants To Avoid Personal Bankruptcy
Our Client’s Objective: The owner of a company that installed audio and visual equipment was facing financial distress and had medical issues that necessitated shutting down of the business. He was concerned about how to do so and was afraid if not properly done, he would be facing bankruptcy himself having guaranteed some loans.
MB Approach: Dave developed a plan to liquidate the assets outside of the bankruptcy process and prioritize the payment to creditors which eliminated the guaranty of the owner.
What’s Next? The owner of the company was able to liquidate the company, pay creditors, and avoid a personal bankruptcy.
Case Study: Company Needed An Asset To Fulfill a Contract
Our Client’s Objective: A fire suppressant company was awarded a contract which required a special and costly piece of equipment. A competitor with the needed equipment had filed bankruptcy and was liquidating.
MB Approach: Dave assisted the client in becoming the successful bidder at the bankruptcy auction.
What’s Next? The client got the needed piece of equipment at about the third of the cost on the open market and acquired the competitor’s client and servicing list which expanded the client’s business operations.
Professional and Civic Activities
- Citizens’ Advisory Budget Committee for Aurora, appointed 2006 to 2011 and 2013 to Present
- Drake University Law School Board of Counselors, 2007- 2013, Executive Committee 2010 to 2013.
- Instructor for the Aurora Small Business Development Center on “Legal Rules of Business,” 2009 to Present
- Denver Scholarship Foundation committee member, 2012 to 2015.
- Kiwanis Club of DTC member, 2013 to Present
- Aurora Chamber of Commerce member, 2013 to Present
- American Bankruptcy Institute, 1996 to Present
- Turnaround Management Association, 2008 to Present
- Colorado Association of Commerce and Industry “50 for Colorado” Class of 1998
- Instructor of Business Law at Denver Technical College, 1989 to 1991
- Lecturer on “The Use of Credit” to graduating high school seniors in the Cherry Creek, Jefferson County, and Douglas County School Districts 1989 to-2000
- Colorado Bar Association, 1985 to Present
- Denver Bar Association, 1985 to Present
Outside the Office
In addition to serving on several civic, charitable, and educational boards, Dave is an accomplished scuba diver and wine maker. "I'm not a very good golfer. However, I do have a hole in one!"