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Most Recent Articles About Restructuring, Insolvency & Vulture Investing:

90 Second Lesson: Secured Creditors and Toll ChargesBy The DailyDAC Editors • 04/16/2019
  QUESTION: An investment banker recently wrote in, saying this:  “I am currently helping a troubled company sell itself.  The proposed buyer wants to buy its assets through a 363 sale in Chapter 11 and is offering to pay the[...]
Chapter 11 Debtor’s Reporting ObligationsBy Richard E. Mikels • 04/11/2019
Reporting Requirements Make the Debtor More Transparent One of the  central principles of bankruptcy is that a debtor should have the benefit of a “fresh start.” However, to accord such relief, the Bankruptcy Code, Bankruptcy Rules, and case law require[...]
Not Necessarily Free and Clear I: Purchasing Real Estate Property in a Section 363 SaleBy The DailyDAC Editors • 03/28/2019
Just Because A 363 Sale Says Free and Clear, Does Not Mean It Is Free and Clear A bankruptcy debtor is offering commercial property in a section 363 sale. It is an attractive property and Lou is considering purchasing it.[...]
File Early and Often: Filing and Amending Claims in a Bankruptcy CaseBy Michael Schwarzmann • 03/20/2019
A Primer for Those Holding Bankruptcy Claims Against a Debtor Bankruptcy claims do more than simply determine the amount of money a creditor is owed or can receive as a distribution. Claims also can generate clout. Clout enables a creditor[...]
90 Second Lesson: What is a “UCC Article 9” Sale?By The DailyDAC Editors • 03/15/2019
QUESTION: Jack B. emailed, asking, “Please explain what an Article 9 sale is. My lawyer said that if I give a security interest to a lender, it can do an Article 9 sale.  What is an Article 9 sale?” ANSWER:[...]
Location, Location, Location – Where to File BankruptcyBy Lawrence V. Gelber • 03/13/2019
The Hows and Whys of Which Bankruptcy Venue to Choose Are you confused where to file bankruptcy? Do you wonder why you should file a bankruptcy case here instead of there? An entity, and more so a group of entities,[...]
When Your Customer Files for BankruptcyBy Michael A. Brandess • 03/06/2019
You Still Have Options In the Event of a Customer Bankruptcy When a customer files for bankruptcy, vendors with debts owed by the customer/debtor that arose before the commencement of the case (the “Petition Date”) can be exposed to considerable[...]
90 Second Lesson: I’ve been asked to sign an involuntary bankruptcy petition. Should I?By The DailyDAC Editors • 03/04/2019
QUESTION: The credit manager of an Akron-based company wrote, asking this: “One of our commercial accounts is pretty far behind in paying on our invoices. Another vendor approached me and asked me to join in signing an involuntary bankruptcy petition.[...]
A Chapter 11 Debtor Need Not Be BrokeBy Renee Fensin • 02/27/2019
A Solvent Debtor Is Not an Oxymoron Suppose that your borrower or customer files a chapter 11 case.[i] You do not like this because you’ll almost certainly not collect the full amount owed to you and to get anything you’ll[...]
Commerical Bankruptcy LitigationBy The DailyDAC Editors • 02/25/2019
The 2019 edition of Commercial Bankruptcy Litigation was just released by West Publishing Company. This 2,000+ page treatise, with contributions from dozens of top firms across the US, is designed with the non-bankruptcy attorney intended to be its primary reader.[...]
90 Second Lesson: To Stalk or Not to Stalk? Why be a Stalking Horse Bidder?By The DailyDAC Editors • 02/22/2019
QUESTION: Jamie S. emailed recently, asking “Can you please sum up the pros and cons of serving as the “stalking horse” in a bankruptcy sale? ANSWER: Yes, Jamie, we can. A stalking horse bidder plays an important role in many bankruptcy[...]
Dealing With Distress For Fun & Profit Installment 19 – Chapter 11 Plan Acceptance, Getting a Class to Accept a PlanBy Jonathan Friedland • 02/19/2019
A written tour of business bankruptcy and its alternatives. This is the latest in the series, Dealing with Distress for Fun & Profit, which you can read from the beginning if you like1. Our last installment focused on the basics[...]
Strategic Alternatives For And Against Distressed BusinessesBy The DailyDAC Editors • 02/18/2019
The 2019 edition of Strategic Alternatives For And Against Distressed Businesses was just released by West Publishing Company. This 1,800+ page treatise, which is a product of more than 100 contributors, is the only resource which provides a state-by-state comparison[...]
90 Second Lesson: How to assess whether a distressed business can be turned around?By The DailyDAC Editors • 02/15/2019
QUESTION: Bill H., a business consultant in NYC, asks, how do I determine if a business I am being asked to help is just too far gone to save? ANSWER: Bill, if you have to ask this question, you might[...]
Considerations When Selling a Bankruptcy ClaimBy Christopher M. Cahill • 02/12/2019
One of your customers sends you notice it has filed for chapter 7 or chapter 11 bankruptcy protection rather than the payment for goods or services provided that you were expecting. You understand that you now have a “claim” against[...]