Dealing with Corporate Distress 02: These Are the People in Our Neighborhood: An Overview of Parties in Chapter 11

A Series on the ABCs of ABCs, Business Bankruptcy & Corporate Restructuring/Insolvency Since a judge presides over a chapter 11 proceeding, one might assume that a chapter 11 case is like any other commercial litigation matter, with one party on each side of the case: a plaintiff and a defendant. One would be wrong (Felix Unger taught us what happens when we “ass-u-me”). In this installment of our series on business bankruptcy, restructuring and insolvency, we look at debtors, chapter 11 trustees, types of creditors and other parties involved in […]

The Chief Restructuring Officer: Architect, Force, Leader Towards Change

Navigating an Extreme Environment as CRO The position of Chief Restructuring Officer or CRO is not well defined or understood. This role does not have as much history as the more traditional positions such as CFO, CEO or President. In turn, this leaves room for much misunderstanding. The CRO may be thought of as simply a position that works through Bankruptcy, rationalizes a workforce, repositions marketing or deals with re-financing or disposition of assets. It may indeed include all of these and much more. There also does not seem to […]

Corporate Restructuring 2017: Why Some Attorneys See Rising Rates, but Most Don’t

The economy, stupid. -James Carville The corporate restructuring profession has become, much like the broader economy, increasingly a world of few “haves” and many “have nots.” This is not by accident, and it is not going away. Those who see and accept the industry for what it is—and pivot accordingly—will continue to be winners. Those who possess a limited repertoire of moves and simply hope for economic downturns will continue to fight for limited market share. How We Got Here Chapter 11 Was Once New Technology The Bankruptcy Code is […]