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Chapter 11 Plans
On July 20, 2015, the Great Atlantic & Pacific Tea Company, made history by filing what we in the restructuring industry like to call “Chapter 22 Bankruptcy.” Read more to see how this case unfolded and what it means for struggling grocers and retail stores.
A reader named Harvey M. wrote in to ask this question: my business licenses certain intellectual property from another company. I am concerned that that company, which we can call “Licensor,” may file for bankruptcy. What will happen to our license if Licensor indeed files?
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 time, it can cure the defaults and perform or observe such new conditions as the lender may require in exchange for waiting, a loan forbearance agreement memorializing such new arrangements may be entered into by […]
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.
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.
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.
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 she told me I should speak with my accountant about the possible tax consequences of getting my creditors to forgive some of the company’s debt. The IRS can’t be that cruel, can it? Answer. Indeed […]
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 that a debtor and its professionals are typically doing many other things immediately before and after they file a chapter 11 petition. For example: Continuing to explore alternatives to chapter 11 Negotiating with various parties […]
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 11 specifically, to look more broadly at the options available to a company (that is, a “debtor”) and to its various constituents (e.g., creditors and equity owners) when that company is experiencing financial distress so […]
A Panel Discussion on the Choice and Challenges of Bankruptcy Venue and Venue Transfers In bankruptcy litigation, the venue can have a major influence on an outcome. We selected expert panel members—each a partner or managing director in the restructuring industry—to discuss why venue fights occur and how business owners (and their advisors) should approach choice of bankruptcy venue, as well as venue transfers. Our expert panelists explore how courts resolve disputes over the venue of a case. Expert Panelists Lisa Vandesteeg, Financial Services and Restructuring Partner at Levenfeld Pearlstein, […]