Alternatives for Financially Distressed Mid-Sized Businesses
January 2011
Alternatives for Financially Distressed Mid-Sized Businesses, Part 1 and Part 2
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Description & Bullets:
January 25 & 26, 2011
Bankruptcy can be a certain process – the discharge of debts and reorganization for a a financially distressed business. But it is very costly in many ways and a time consuming process. Restructuring a business short of bankruptcy can be less certain, involving an informal process of negotiating with creditors, vendors and others and trying to maintain liquidity for operations, but the benefits of a successful company-wide workout can be substantial. This program will provide you with a practical guide to working with the maze of lenders, vendors and others that are essential for your financially distressed client’s success to reorganize their debts and obligations and position them for future growth.
Day 1: January 25, 2011:
- Restructuring alternatives short of bankruptcy for businesses
- Credibility issues – if the debtor has lost it, who can step in to reestablish?
- Information – knowing what you need and getting clean, accurate operating and appraisal numbers
- Special considerations when family businesses are involved
- Business owner v. entity considerations – key tradeoffs in formulating a strategy, including personal guarantees
- Fraudulent transfer issues and liability
- Liquidity issues – factoring receivables, managing inventory
Day 2: January 26, 2011:
- Workouts with lenders and vendors
- How to approach banks, other creditors, and vendors – and how to position your clients in these negotiations
- Techniques available to workout a loan – deeds in lieu of foreclosure, forbearance agreements, modifications, and more
- Negotiating with landlords over office, retail and manufacturing space
- Special issues with vendors, including establishing “preferred vendors”
- Practical tips on negotiating with vendors and lenders
- Documentation issues
Faculty:
Mark E. Leipold is a partner in the Chicago office of Gould & Ratner, LLP, where his practice focuses on representing lenders, creditors, debtors, trustees and others in sophisticated bankruptcy proceedings and workouts. He serves chair of the Small Business Subcommittee of the ABA Business Law Section and as an Adjunct Professor of Law at DePaul University, where he lectures on secured transactions. Before entering private practice, he served as a judicial clerk to the United States Bankruptcy Court for the Northern District of Illinois. He received his B.S. from Northwestern University and his J.D. from DePaul University College of Law.
Registration Fees
| Non Member | $129.00 |
| CBA | $109.00 |
- General Credits: 2.00
- Ethics Credits:
- EDI Credits:
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