Receive this Newsletter April 21, 2020   Don’t Shoot the Messenger: Your Company May Be Distressed. Now What? Your company - perhaps financially strong just a couple of months ago - may now be hanging on by a thread. Leaving aside the most pressing issues, like how your business will pay its bills and keep its workforce intact, you have another issue that you may have not yet focused on: your recently solvent business may very well now be insolvent (or close enough for you not to be sure). And if you know anything about the concept of corporate fiduciary duties then you know that the constituency to whom fiduciary duties are ultimately owed shifts from shareholders to creditors as a company shifts from being solvent to being insolvent. Read more in Your Distressed Company & COVID-19 - A Simple Restructuring Playbook for the Great Cessation.   Unless Your Goal is Harassment, You Should Not Be Afraid to File An Involuntary Bankruptcy Petition Yes, some bankruptcy courts award damages against parties who file improper involuntary bankruptcy petitions. However, courts have only done so in cases with outrageous facts in which the petitioner aimed to harass the other party. When used in good faith, an involuntary bankruptcy petition offers many benefits to creditors, as explained in the article “Getting Over the Scariness of Filing an Involuntary Bankruptcy Petition.”   Want Notice of Every New Chapter 11 Filing - Fast & Free? DailyDAC is pleased to announce the debut of its Chapter 11 Bankruptcy Alert System. Updated throughout the day, seven days a week, DailyDAC’s Chapter 11 Bankruptcy Alert System lists every new Chapter 11 case filed in the United States in near real time and at no charge. Check it out today! 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 Heavy equipment, trucks & trailers - Multiple lots - (22711) Industrial equipment - Multiple lots - (22713) Indoor trampoline park equipment - (22710) Private Company Sales Metal fabrication & plant maintenance business (w/Real Estate) - (22776) Industrial chemical/equipment supplier - (22778) Waste management / composting business - (22780) Industrial distribution business - (22777) Industrial crating manufacturer - (22779) Assignment for the Benefit of Creditors Sales Home & commercial improvement supplier - (22816) Industrial contracting company - (22814) Excavating contracting company - (22813) Accessories dealer/retailer - (22812) Chapter 11 - 363 Sales Gas producer (w/two industrial properties) - (22752) Commercial construction company - (22756) Boating vessels – Multiple lots - (22755) Scholarly rare book collection - (22757) Outdoor power equipment dealer - (22754) Entertainment services company - (22732) Beauty & barber salon chain - (22785) Restaurant/bistro - (22733) Chapter 11 - Investment Banker Application Filed American charter airline - (22798) Chapter 11 - Case Filing Indicates Future Asset Sale Sporting goods textile manufacturer - (22800) Integrated communications company - (22799) Chapter 7 - Sale of Business Assets Interests, claims & causes of action – Marketing company - (22793) Electrical contracting business (w/equipment) - (22792) Dental practice (w/office fixtures) - (22734) Vacation home rental agency - (22789) Medical device company - (22790) Nutrition company - (22736) Chapter 12 Bankruptcy No New Deals This Week Rating Agency Alerts/Other Signs of Distress Producer of high school yearbooks & class rings - (22835) Retirement portfolio services business - (22833) Direct marketing services company - (22834) Business credit report publisher - (22832) Oil & gas production company - (22836) Auctions Full service event production co. - (22818) Vintage jewelry & collectibles - (22819) Rigging & industrial equipment - (22817) Farming/industrial equipment - (22801) Woodworking shop - (22820) Other Interesting Sales Multi-use commercial property (w/ equipment) - (22827) Manufacturer of electrical control panels - (22826) Tier 3 recreational cultivation business - (22830) Agriculture seed distribution business - (22828) 210 Acre Fruit Farm/orchard - (22829) Bulk Sales Small beer brewery - (22821) Assisted living facility - (22823) Commercial beverage license - (22822) Branded fast-food restaurant - (22824) Pizza restaurant (w/equipment) - (22825) Receiverships Commercial building - 1,200 sq. ft. - (22783) Office Building - 9,300 sq. ft. - (22782) Retail Building - 1,029 sq. ft. - (22781) Mass/Significant Layoffs Manufacturer of exterior building products - (22807) Oilfield services firm - (22811) Dairy/milk producer - (22809) Movie theater chain - (22802) Steel mill - (22808) Plant/Facility Closings Manufacturer of recliner movie theater seats - (22804) Manufacturer of dinnerware/china - (22803) Integrated steel producer - (22810) Gym/fitness chain - (22806) Chemical plant - (22805) 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]