Receive this Newsletter March 24, 2020
 

Who Are the Parties in a Chapter 11?

A chapter 11 bankruptcy is supervised by a federal judge. So, it is a court case. Ahh, but it is so much more...

When you think of a court case, you typically think of a two-party dispute, with a plaintiff and a defendant. In a chapter 11 case, that’s not the case. There is a debtor, usually one or more unsecured creditors, and perhaps dozens or even hundreds or thousands of other parties.

Learn about trustees, secured and unsecured creditors, and the other major players in the second installment of the DailyDAC series, Dealing with Corporate Distress, “These are the People in Our Neighborhood: An Overview of Parties in Chapter 11.”
 

The “ABC” Alternative to Liquidating Assets Under Chapter 11 and Chapter 7

An assignment for the benefit of creditors (ABC) is a method of selling distressed assets by assigning the title and control of those assets to a third-party, also known as an assignee. This alternative can be less complicated and costly than a chapter 11 or chapter 7 liquidation. The assignee’s role is to then liquidate the company’s assets and to distribute the proceeds to creditors (and equity holders, if there are any left after paying creditors in full). Find out more about ABCs and the role of the assignee in “Selling Distressed Assets: The Assignment for the Benefit of Creditors Alternative” by Steven San Filippo.
 

Hot Out of the Recording Studio!

Financial Poise Webinars provide quality education by leading experts in an accessible, even entertaining way. Each is an hour long. Each comes with a fantastic PowerPoint. Each is pretty entertaining (at least as compared to most seminars on the topic).

Nearly 300 Financial Poise Webinars are available to attorneys and accountants seeking CLE and CPE credit at West LegalEd Center here. These webinars are not cheap ($175 per webinar) but if your firm/company subscribes to West LegalEd Center then they are available to you at no additional cost.

Everyone else not looking for CLE or CPE credit - business owners, executives, entrepreneurs, private fund professionals, investors - can purchase Financial Poise Webinars, directly from Financial Poise for only $19.99.

Come learn with us! Recently released webinar series include:
About the Opportunistic Deal Database
Vulture Investors Take Note:

Looking to buy companies out of bankruptcy? Assets of financially distressed companies in receivership, assignment or from lenders who have foreclosed on, and are selling, their collateral under Article 9 of the UCC? Search for excess assets resulting from plant closings? Targeting other sellers who need to sell urgently and other opportunistic/special situations?

Check out DailyDAC's Opportunistic Deal Database (ODD). The ODD culls such opportunities.

Subscribe here for access
The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.

Secured Party Sales

  1. Commercial/retail building - 4,000 sq. ft. - (22064)
  2. Specialty building - 10,545 sq. ft. - (22063)
  3. 8,400 Sq. Ft. Industrial Building - (22059)
  4. Retail building - 18,000 sq. ft. - (22061)
  5. 9.4 Acres of Commercial Land - (22065)
  6. Commercial flex building - (22062)

Private Company Sales

  1. Industrial Machine Repair Service Business (w/Real Estate) - (22037)
  2. Industrial Equipment distributor (w/real estate & Inventory) - (22036)
  3. Engineering & Industrial Management Business - (22039)
  4. Industrial Equipment & Supply Company - (22040)
  5. Industrial Equipment Manufacturer - (22038)

Assignment for the Benefit of Creditors Sales

  1. Excavation & construction company (w/equipment) - (22024)
  2. Real estate services business - (22025)
  3. Stone countertop dealer - (22023)
  4. Fitness center chain - (22021)

Chapter 11 - 363 Sales

  1. Commercial plumbing services company - (22054)
  2. Holding company for energy businesses - (22011)
  3. Commercial land - 9.1 acres - (22051)
  4. Marketing consulting firm - (22053)
  5. Restaurant chain - (22055)

Chapter 11 - Investment Banker Application Filed

  1. Petroleum/energy services company - (22057)
  2. Product branding developer - (22058)
  3. Hospital/healthcare sytem - (22056)

Chapter 11 - Case Filing Indicates Future Asset Sale

  1. No New Deals This Week

Chapter 7 - Sale of Business Assets

  1. Commercial steel building - 0.37 acres - (22048)
  2. Two pizza restaurants (w/equipment) - (22047)
  3. 5 acre commercial property - (22046)
  4. 73+/- acre land parcel - (22049)
  5. Farmland - 35 acres - (22050)

Chapter 12 Bankruptcy

  1. No New Deals This Week

Rating Agency Alerts/Other Signs of Distress

  1. Medical technology therapy developer - (22042)
  2. Shipwreck discovery company - (22043)
  3. Petroleum company - (22044)
  4. Homebuilder - (22041)

Auctions

  1. Machinery, surplus hardware & materials - Multiple lots - (22015)
  2. Steel fabrication company (w/equipment) - (22007)
  3. 5.11 acre vacant land parcel - (2014)
  4. Land parcel - 6.88 acres - (22013)
  5. Machine shop equipment - (22008)

Other Interesting Sales

  1. Electronics component distributor - (21974)
  2. Global brand protection company - (21972)
  3. Vascular surgery device creator - (21970)
  4. Bio-pharmaceutical company - (21975)
  5. Holding services company - (21973)
  6. Real estate developer - (21971)

Bulk Sales

  1. Automotive & trucking parts dealer - (22016)
  2. Laundry/dry cleaning business - (22020)
  3. Automotive detailing business - (22017)
  4. Commercial beverage license - (22019)
  5. Tree services business - (22018)

Receiverships

  1. Developer - Stacked townhouse condo complex - (22066)
  2. Manufacturer of automotive accessories - (22068)
  3. Distributor of consumer products - (22067)
  4. Excavating/utility contractor - (22069)
  5. Media content distributor - (22070)

Mass/Significant Layoffs

  1. Full-service restaurant - (22027)
  2. Furniture manufacturer - (22028)
  3. Appliance manufacturer - (22012)
  4. Furniture retailer - (22009)
  5. Full-service hotel - (22029)

Plant/Facility Closings

  1. Manufactures helmets & athletic uniforms - (22033)
  2. Delivery services business - (22034)
  3. Home healthcare supplier - (22031)
  4. Appliance manufacturer - (22032)
  5. Commercial sign shop - (22030)
View All Deals on DailyDac.com


 
DailyDAC is a publication of DailyDAC,LLC. DailyDAC LLC is strictly a research publishing firm and falls within the publisher's exemption of the definition of an "investment advisor" and is of general and regular circulation. DailyDAC is not a registered broker/dealer and it is not an investment bank or business broker. DailyDAC is not a solicitation or offer to buy or sell any securities. All content in this email is copyright 2020 by DailyDAC, LLC and may not be reproduced without written permission of DailyDAC, LLC but this email may be forwarded freely in its entirety.

DailyDAC, LLC provides continuing education and information for business owners and executives, accredited investors, and their respective trusted advisors (primarily attorneys, accountants, and other financial and business advisors.) For more information about DailyDAC LLC, click here.
DailyDAC, LLC
1954 First Street, Suite 178
Highland Park, IL 60035
847-463-9530
[email protected]