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What do Secured Lenders Want? The Basics of Loan Forbearance Agreements
When a borrower defaults on its loan agreements, a lender may, among other options, sue to foreclose on its collateral and collect from the borrower. The lender, however, may instead agree to amend the loan documents or enter into a loan forbearance agreement. If the borrower can convince the lender that, within a reasonably short […]
Dealing with Corporate Distress 09: All About “Claims” in Bankruptcy
A Series on the ABCs of ABCs, when it comes to claims there’s a plethora of them. From secured, to unsecured, to bankruptcy, and trade. Read all the basics in this installment of Dealing with Corporate Distress.
The Good, the Bad, and the Ugly of Replacing a Debtor’s Management with a Chapter 11 Trustee
A creditor may seek appointment of a chapter 11 trustee in replacement of the debtor in possession, but there are special considerations to make first.
Subchapter V of Chapter 11: A User’s Guide
Editors’ Note: This article is a preview of a chapter that will be included in the forthcoming 2022-2023 edition of STRATEGIC ALTERNATIVES FOR AND AGAINST DISTRESSED BUSINESSES (“Alternatives”) and it is copyrighted by Thomson Reuters. It is published here by DailyDAC with the permission of Thomson Reuters. President Reagan famously joked that “I’m from the […]
90 Second Lessons: Working for a Struggling Business: Can this Car Be Turned Around?
Is the company that you work for struggling? Find out what this means for an employee who is working for a struggling business that may file for bankruptcy.
90 Second Lessons: Nothing in Life is Certain but Death and Taxes: Cancellation of Debt Income
Editor’s Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to [email protected] and we will try to answer it. Question Robin T. wrote in asking, I own a small retail chain that has been struggling. I hired a lawyer to negotiate with my creditors, and […]
90 Second Lessons: The Mindset of a Real Estate Workout Lender
Editor’s Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to [email protected] and we will try to answer it. Question Russell S. wrote in asking, “I have a real estate portfolio that consists of several commercial buildings, and my loans are badly in default. My […]
Dealing with Corporate Distress 08: Preventing Forest Fires with First Day Motions in Chapter 11
The ABCs of ABCs, Business Bankruptcy & Corporate Restructuring/Insolvency In this installment, we take you on a tour of the time leading up to the filing of a chapter 11 case and the days that immediately follow. Mostly, we’re referring to first day motions. Before we dive into first day motions, however, you should understand […]
Solvent Debtor? A Chapter 11 Debtor Need Not Be Broke
A Solvent Debtor Can File for Bankruptcy…but Can They Survive a Motion for Dismissal? Suppose that your borrower or customer files for chapter 11 bankruptcy. You do not like this, because you’ll almost certainly not collect the full amount owed to you. In fact, to get anything at all, you’ll have to get involved with […]
Dealing with Corporate Distress 07: Chapter 11 is Not Always the Answer: Strategic Alternatives For and Against Distressed Businesses
The ABCs of ABCs, Business Bankruptcy, & Corporate Restructuring/Insolvency In Installment 5, we walked through the lifecycle of a hypothetical traditional chapter 11, and in Installment 6 we discussed key concepts you must comprehend in order to understand any chapter 11 case. Now we pull the camera back and turn our focus away from chapter […]