Episode 1: What is Bankruptcy?

**WARNING**: Trying to negotiate the bankruptcy process alone can be as foolish as jumping out of an airplane without checking your parachute. Our Panel of experts all recommend you get professional help in making that decision**

Corporate Bankruptcy A to Z, a show designed to help you be more educated than 90% of those who file for bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that big name businesses go out of their way hear.

Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com Their door is always open and they will respond.

In this first episode we will be talking about the two main filing options, the 7 and 11 (not the chain of convenience stores but the bankruptcy chapter names). We will talk about how a company knows if it is a candidate for a filing, advantages and disadvantages, the chances of a successful bankruptcy and much more.

2:15 – Automatic Stay
4:56 – Chapter 7
6:10 – Chapter 11
10:23 – Pre-bankruptcy planning, employees, and customers
12:23 – Management
13:10 – Changes to a company
14:17 – Who is protected
15:33 – How long is bankruptcy
16:18 – Case Studys
20:45 – Best time to file
21:50 – Waiting to long
23:38 – Interesting case

Guest Information:

Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers.

Call him any time 24/7, 973-286-6714. Or email him sravin@saul.com You can also visit his firm’s website.

Host Information:

Neil Goldstein is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition. Mr. Goldstein works closely with owners to structure improvements in both operations and finances. With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth.

Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com

Join a supportive team of diverse, highly-motivated professionals to leverage your skills and experience, fuel your professional growth, and make a difference on your very first day.
Check out Strive Consulting

Do you have any concerns about the bankruptcy process and how it will impact your business? Why not ask the experts? Feel free to reach out to Neil or Steve with your questions and you may even hear them answered in the mail bag. Be sure you subscribe the podcast and please consider leaving a 5 star review. New episodes air, every other Tuesday.

Join us next episode to learn if your business is a candidate for a bankruptcy filing. Our special guest will be Tom Colvin of MCR Capital Advisors. Listen in on the conversation as Tom shares his decades of experience with Neil and Steve and they discuss the financial signs that a business may be in trouble.

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