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Canada-based timber manufacturer Structurlam Mass Timber Corp., which suspended operations at its Conway plant in January, announced it has filed for Chapter 11 bankruptcy protection and agreed to a $60 [...]

The allure of obtaining assets free and clear of all liens and claims has made restructuring proceedings a popular forum for the acquisition of business assets in both Canada and [...]

A spate of recently announced airline cost-saving measures shows an industry desperate to move toward a more sustainable structure. The newest decisions--ranging from deferring new planes and cutting more labor [...]

This article analyzes the various strategies for a debtor to address underfunded pension plans in a Chapter 11 reorganization. A brief overview of bankruptcy law is provided and a detailed [...]

It is a truism that business thrives on stability and predictability. (1) It is also clear that the acquisition and licensing of technology and other intellectual property transactions have become [...]

M&A specialists envious of the bonuses paid to their debt colleagues should take some solace. Debt restructurings have been engaging large numbers of advisers including corporate financiers for long periods [...]

Directors and officers of financially distressed [companies] must take heed of the duties they may have towards creditors of the [company], as well as those duties owed to shareholders. The [...]

Ace Corporation is facing a financial crisis. The example of this corporation is taken to show how a company in such a situation can either declare bankruptcy or try and work out of the crisis.

Perhaps the most important determinant of successful restructuring is the timeless with which companies, lenders, workout departments, and private equity portfolio managers react. The longer a financially challenged company operates [...]

The healthy economy of the later half of the 1990s meant that there were relatively few defaulted loans. In contrast, the economic slowdown of the past few years has resulted in more and more defaulted loans, requiring loan officers and lawyers to utilize workout documentation and procedures that have been mothballed for years. For those loan officers and lawyers who did not participate in loan workouts of 1990 through 1993, the author has prepared a dramatization to highlight the documentation and procedures associated with the "early stages" of a workout. The phrase "early stages" means the period of time the loan documents have been violated but before the foreclosure and bankruptcy merit serious consideration by the parities.

Lessons learned by Silicon Valley-s dot-com entrepreneurs who went bankrupt are discussed. A dot-com recognizing the signs of insolvency early might be able to persuade creditors not to desert the company before it attains profitability. Intellectual property issues and what is to be done with customer lists are also discussed.

The current Chapter 11 bankruptcy process suffers from two major problems: 1) it is quite costly (Altman, 1984; John, 1993; Betker, 1997; and Branch, 1997), and 2) nonviable firms are [...]

Lenders should be aware of the business decisions a debtor undertakes at every phase of a Chapter 11 bankruptcy process. The process requires the debtor to file for Chapter 11 without disturbing the business. It also requires the assessment of the business as well as the formulation of a business plan. The third stage in the process is finalizing a plan for reorganization. In providing for the executive compensation, lenders should confer with the retailer regarding changes in the incentive programs, which could be overly generous.

Trustees of a multiemployer benefit plan need to take a close interest in bankruptcy proceedings involving a contributing employer. Their fiduciary duties include taking the necessary steps to preserve the interest of the trust fund and its participants. Chapter 7 Liquidation and Chapter 11 Reorganization are the two types of bankruptcy proceedings that trustees can generally expect to encounter. The first involves the liquidation of the debtor's assets and distributing the proceeds to its creditors. The second type is intended to help troubled companies reorganize and ensure the survival of the business. In most bankruptcy proceedings, trustees simply file their claims and wait for results. However, other proceedings may demand a more active participation by trustees. Trained personnel, careful planning and good counsel are crucial to effective management of bankruptcy proceedings.