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About Elizabeth Vandesteeg

Elizabeth Vandesteeg

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Articles by Elizabeth Vandesteeg

Supplier! Can Your Unpaid Administrative Claim Be Setoff Against Your Preference Liability?

A sophisticated Supplier sells “meat products” (yum) to a struggling manufacturer (in this case, of food). The manufacturer files a petition to commence a chapter 11 case. The manufacturer (and now debtor-in-possession or Debtor) wants Supplier to continue to supply. Supplier recognizes that it received $13 million in payments in the 90 days before the bankruptcy […]

Optimizing Corporate Workouts With Independent Directors and Special Committees

The appointment of independent directors may benefit a financially distressed business throughout its restructuring process, including during a bankruptcy case. An independent director can be conceived of as having no direct or indirect connection to the business, including not being an employee, owner, or other insider of the business and not deriving any income from […]