Episode 11: Working in Bankruptcy

This podcast is not a substitute for professional financial or legal advice. Be sure you speak to a CRO or Lawyer before filing for Bankruptcy.

3:55 – Corporate by-laws and other documents leading to bankruptcy
6:20 – Remedies when the corporate by laws are inadequate.
7:20 – Presenting a plan to the court – the right timing
9:45 – What is in the plan
10:37– Debts are paid over a flexible period.
13:10 – Who prepares the plan?
14:08 – What happens to the plan after it has been submitted – Disclosure statement
16:12 – Interested parties get to see the plan.
17:35 – Should the company fear publishing too much information?
18:08 – Days Court needs to review the plan
19:17 – Are most plans confirmed?
20:39 – Procedure for creditors to discuss the company’s plan
21:51 – Interested parties can submit their plan after the exclusivity period
22:53 – How does the court select the best plan to confirm
23:55 – Any consideration given to the existing owners
24:41 – Advice to clients when preparing a plan
25:56 – Principals and new value that needs to be added
27:23 – After confirmation
28:12 – After exiting bankruptcy

Guest Info

Marcus A. Helt focuses his practice on restructuring and insolvency matters, emphasizing bankruptcy, corporate restructuring, workouts, creditors’ rights and commercial litigation. Marcus typically represents borrower clients, buyers and other interested parties in all industries.

Call him 214-210-2821 or email mhelt@mwe.com.

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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