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Most Recent Articles About Restructuring, Insolvency & Vulture Investing:

Personal Property Appraisals 101By Michael Kletecka • 02/18/2020
What You Should Know Before Hiring a Property Appraiser Are you a lender who needs an appraisal of personal property (machinery, equipment and inventory) in connection with making a loan? Are you a company that needs an appraisal in connection[...]
The Chief Restructuring Officer: Architect, Force, Leader Towards ChangeBy Tommy M. Onich • 02/13/2020
Navigating an Extreme Environment as CRO The position of Chief Restructuring Officer or CRO is not well defined or understood. This role does not have as much history as the more traditional positions such as CFO, CEO or President. In[...]
Buying Operating Assets from a Distressed SellerBy Jonathan Friedland • 02/03/2020
A Practical Guide to Assessing Legal Risk and Potentially Fraudulent Transfers    “One man's rubbish is another man's treasure.” -William & Robert Chambers Journal of popular literature, science and arts (1879)  "A little learning is a dangerous thing" -Alexander Pope,[...]
90 Second Lesson: What is a “Professional Fee Carve-Out” in Chapter 11?By The DailyDAC Editors • 01/27/2020
QUESTION:   A commercial banker emailed saying, “We’ve recently had a large asset-based loan default, and the company filed Chapter 11. Our attorney has advised us that we should agree to pay the borrower’s attorneys by letting them get paid[...]
Demystifying Administrative Expenses in BankruptcyBy Michael A. Brandess • 01/20/2020
Priority Claims in Chapter 11 Bankruptcy   Bankruptcy professionals, other business professionals, and trade vendors would be reluctant to provide services or otherwise extend credit on an unsecured basis to an insolvent entity like a bankruptcy debtor, unless their claims[...]
How To Become a Really Bad Bankruptcy Client And Maybe Even Get ProsecutedBy Donald L. Swanson • 12/20/2019
Follow the Rules or Become a Bad Bankruptcy Client What makes a bad bankruptcy client? A failure to follow the rules. The Bankruptcy Code requires lots of things from people who file bankruptcy. One of those things is full disclosure[...]
90 Second Lesson: Is Bankruptcy Needed if Creditors Will Just Agree to Take Less?By The DailyDAC Editors • 12/13/2019
QUESTION: Murray D. emailed, recently: “I am a general corporate lawyer. One of my clients has been in business for 50 years. It has no bank debt but it owes its vendors about $2 million. He told me that most[...]
Opening the Kimono: Operational and Financial Reporting Obligations at the Outset of a Chapter 11 CaseBy Gary W. Marsh • 12/06/2019
While providing numerous advantages to the companies that choose to invoke it, Chapter 11 also imposes significant and sometimes burdensome public reporting obligations on them – hence the metaphor of the opened kimono. Because of the debtor’s reporting obligations, creditors[...]
Determining the Collateral Value of a Secured ClaimBy The DailyDAC Editors • 11/26/2019
Knowing Collateral Value Helps Determine the Creditor’s Rights Under a Plan The question of why we need to know the collateral value of a secured claim seems quite obvious when a secured creditor may be under-secured, that is when the[...]
90 Second Lesson: Why Would a Debtor Choose to Liquidate Under Chapter 11?By The DailyDAC Editors • 11/08/2019
Question: A reader asks, “I read about a company that filed Chapter 11 recently with a plan to sell all assets and go out of business. Why wouldn’t it file Chapter 7?” Answer: While it is true that the title[...]
Claims Trading of Notes of a Debtor Might Become More Difficult After WoodbridgeBy Russell C. Silberglied • 11/01/2019
When a debtor files for Chapter 11 or Chapter 7 bankruptcy, often a creditor’s only remedy is to wait for a sale or reorganization, the claims resolution process and other actions to be taken before the debtor or trustee can make distribution on the claim.
Determining Value – Choosing a Business AppraiserBy Gary Lotzer • 10/23/2019
Don’t Leave Valuation to Chance Valuation is the determination of the worth of an entity or item. According to Erin Hollis “A valuation can be as loose as a guess, to a ‘back of the envelope’ calculation, to a formal[...]
90 Second Lesson: What is a Chapter 15 Proceeding of the Bankruptcy Code?By The DailyDAC Editors • 10/18/2019
QUESTION: Harry A asks, what is a Chapter 15 Proceeding? ANSWER: Chapter 15 of the Bankruptcy Code was enacted as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). It replaced existing section 304 of the[...]
Investing in Bankruptcy Claims as a Cash InvestmentBy Lawrence V. Gelber • 10/04/2019
Investing in bankruptcy claims can be very profitable or can result in a significant, or even total, loss. Bankruptcy claims are a creditor’s right to payment from a debtor. A bankruptcy claim can be secured by the debtor’s property or[...]
The Opportunistic Deal Database Provides Unique Opportunities for InvestorsBy The DailyDAC Editors • 09/19/2019
If you are an investor in distressed assets, you know that uncovering great deals takes a lot of work. There are times you’ve probably wished there was a way to find all the deals in one place. Well wish no[...]
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