Bankruptcy Beat Snapshot: Mark Manski
In Mark Manski’s mind, his job as a restructuring adviser is not unlike being an NFL quarterback.“I’m Tom Brady,” said Mr. Manski. “You walk out, and you’re confident,” he recently told Bankruptcy Beat. “You’re confident that you’re going to be able to see the field and figure out where the pitfalls are. You might have to go back three yards to move forward 15 yards, but you know you’re going to score the touchdown and end up winning the game. I view restructuring in a similar way.” READ MORE
Practical Alternatives to a Bankruptcy Filing
Once a distressed business and its advisors have concluded that an out-of-court restructuring will not satisfactorily resolve a debtor’s financial difficulties, the company frequently begins planning to seek relief under the U.S. Bankruptcy Code. The code provides debtors and creditors with a detailed road map and important tools, including the automatic stay, free-and-clear asset. READ MORE
Lenders Armed with New Forbearance Options for LLCs
Real estate lenders dealing with distressed borrowers are often confronted by one primary issue upon default or in anticipation of the borrower’s inability to perform: Whether to enforce rights and commence foreclosure proceedings or to forebear, negotiate modified terms, and extend the lending relationship. In both instances, a lender must be mindful of the borrower’s alternative path to a restructuring, namely bankruptcy.
Law Journal Newsletters - The corporate counselor
Corporate bankruptcy is an area that is often feared and misunderstood by those who believe that bankruptcy will be the end of their business. In reality, most businesses operate with limited difficulty in Chapter 11. Moreover, a well planned corporate bankruptcy can solve a number of problems for companies or their subsidiaries facing distress, and is preferable to an uncontrolled liquidity or other business crisis. Labor issues, landlord/ tenant disputes and vendor relationship questions can all be satisfactorily addressed within the context of a Chapter 11 filing. Bankruptcy can also be used as an effective tool by companies seeking to acquire businesses. READ MORE