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Most Recent Articles About Restructuring, Insolvency & Vulture Investing:

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[...]
90 Second Lesson: What will your lender do if you default on a commercial loan?By The DailyDAC Editors • 09/13/2019
QUESTION: Scott T,  emailed, asking, “I have a client who owns a few income-producing properties and she thinks she may not be able to make her next mortgage payments to her lender. What should I tell her to expect?” ANSWER:[...]
Bankruptcy Code RevisedBy Jonathan Friedland • 08/27/2019
Some Financial Help for the Little Guy: President Trump Does Something Uncontroversial for a Change and Signs Four New Bankruptcy Bills into Law1 Download a Printable PDF of this Article President Trump signed four bipartisan bankruptcy bills into law this[...]
When a Seller of Real Property Files for Bankruptcy Before ClosingBy The DailyDAC Editors • 08/23/2019
What are the purchaser’s rights under an executory contract? Sven, of St. Paul, related to us this sad but musical tale, which pertains to purchasing real estate where the seller goes bankrupt before closing: You see, she and I entered[...]
90 Second Lesson: What is an “Exchange Offer?”By The DailyDAC Editors • 08/05/2019
  QUESTION: Fred T. emailed, asking, “I own securities of a company and heard on the news that it is contemplating doing an “exchange offer.” What is an exchange offer? ANSWER: An exchange offer is one way a company can[...]
The Myth of the Newspaper Being a Commercially Reasonable NoticeBy Christopher M. Cahill • 07/29/2019
Is It Commercially Reasonable Notice, If No One Is Reading?1 You represent a secured lender. You are to assist your client in its exercise of rights under UCC §9-610 to sell its collateral after it has foreclosed upon the collateral.[...]
LLC Membership Interests in Chapter 11 – Can They be Sold Over Other Members’ Objections?By The DailyDAC Editors • 07/22/2019
Interpretation Matters When a chapter 11 debtor holds a membership interest in an LLC, it may be permissible for them to sell their membership interest in the LLC, or even force the sale of the entire LLC, over the objections[...]
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