Episode 10: Contracts and Court Meetings

NOTE: This podcast is not a substitute for professional consul. Consider reaching out directly to any person on this show if you have further questions before taking action on your own.**

Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don’ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.

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

06:27 – First day hearings
07:29 – Motion to apply for the use of cash
09:43 – Who is present at the initial meeting
10:43 – What happens at the meeting
11:53 – Reasons why Hertz filed for bankruptcy
14:04 – The role of the United States Trustees’ Office
15:25 – Do US Trustee’s handle cases differently?
17:28 – Reports and schedules that need to be filed
20:24 – Creditor’s committee, when and why it forms.
20:27 – Creditor influences on the bankruptcy
23:27 – Are creditor committees formed in all cases?
24:44 – Creditor rights in a bankruptcy
26:55 – The company pays for the creditor’s committee
31:31 – 341 Creditor meeting conducted by US Trustee
33:34 – Can the meeting get confrontational?
34:29 – How a company operates in business (Ordinary course)
35:57 – Timing and filing of a restructuring plan
37:32 – Company personnel who should help to formulate the plan
38:31 – Joe’s thoughts on bankruptcy. A negotiating tool.
39:49 – Steve’s closing thoughts. Fees of attorneys
40:33 – Joe’s interesting bankruptcy case

Guest Info:

Joe Marshall started Marshall Law in 2015 following 25 years of practice at a Texas commercial law firm.  This transition allowed him to continue to provide the highest quality legal representation in more practice areas with flexibility in rate structures and greater personal client service.

Call him 214-579-9173 or email JMarshall@MarshallLaw.net

Host Info:

Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  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.

Neil’s book is now available on Amazon.com

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

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 973-286-6714. Or email him sravin@saul.com You can also visit his firm’s website

Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

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