Chapter Nineteen. Bankruptcy as a Tool
No one likes to consider the alternative of bankruptcy, but in some instances it provides the only means of ensuring the survival of a company and the jobs and economic entity that it represents. It can also be used to “clean up” a messy legal structure in anticipation of a sale or an acquisition.
This chapter discusses Chapter 11 of the bankruptcy code and only refers to corporate reorganization. I am not an attorney, and if you are contemplating bankruptcy, you will need the best bankruptcy counsel that you can get to act on your behalf. However, I have acted as chief restructuring officer (CRO) in a number of bankruptcies and have operated companies through the complexity of the bankruptcy process and emerged ...
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