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Financially Distressed Companies Answer Book (2013 Edition)

 
Author(s): Douglas P. Bartner, Susan A Fennessey, Shearman & Sterling LLP
Practice Area: Bankruptcy & Restructuring, Corporate & Securities
Date: Jun 2013 i Previous editions(s) can be found in the Related Items tab.
ISBN: 9781402419676
PLI Item #: 46612

In order to survive, a company in financial distress must approach its business and capital structure differently than a financially sound company. A company in financial distress may, for example, need to preserve cash by stretching accounts payable, to raise cash by selling assets, or to arrange for emergency liquidity from institutional lenders. The response of a company to its deteriorating financial condition will almost certainly affect, perhaps in material ways, a company’s key constituents.

Financially Distressed Companies Answer Book 2013 provides a broad overview of topics relating to financially distressed companies. It is intended to be an easy reference with respect to issues for the management of a company finding itself in financial distress, a vendor or other creditor trying to manage its exposure or understand a bankruptcy process, or a nonbankruptcy lawyer needing a description of the legal concepts relevant to distressed companies. The book provides answers detailed enough to provide a working understanding of concepts, and relevant statutory and case law cites to facilitate any necessary further reading. Examples and practice tips help illustrate concepts and provide practical guidance.

Topics discussed in Financially Distressed Companies Answer Book 2013 include:

  • The roles and fiduciary duties of directors and management in distress situations;
  • Rights and limitations of creditors in dealing with companies in distress and in bankruptcy;
  • Concepts and considerations relating to out-of-court restructurings;
  • Cross-border reorganizations and issues in international restructurings;
  • Key concepts in U.S. bankruptcy cases; and
  • Special rules in bankruptcy for small businesses and single asset real estate companies.

Financially Distressed Companies Answer Book 2013 also provides you with:

  • Illustrative timelines to help guide strategic planning;
  • References to sources of additional information, such as bankruptcy court websites; and
  • Practice and cautionary tips to provide guidance on issues such as how to recognize financial distress, when the securities laws might require disclosure and what actions a creditor may take to protect its rights or limit its exposure.

Douglas P. Bartner is a partner in Shearman & Sterling LLP’s Financial Restructuring & Insolvency Group, where he regularly represents debtors and creditors and acquirors of assets in Chapter 11 bankruptcies and out-of-court restructurings. Mr. Bartner is currently serving as Chair of the firm’s Audit Committee and is a member of the firm’s Practice Management Committee. He served as the global Practice Group Leader of the Financial Restructuring & Insolvency Group for ten years. Mr. Bartner joined Shearman & Sterling in 1982 and became a partner in 1991.

Selected Experience

  • Coldwater Creek in its Chapter 11
  • Lupatech in its Chapter 15
  • Media General in its amend and extend, sale of newspaper assets to and financing agreements with Berkshire Hathaway
  • Delphi Corporation, as special bankruptcy counsel, in its Chapter 11
  • Centrais Eléctricas do Pará, S.A. in its Chapter 15 (Latin Lawyer Restructuring Deal of the Year 2012)
  • JBS, S.A. in its acquisition of Pilgrim’s Pride out of Chapter 11

Selected Publications

Practice

  • Financial Restructuring & Insolvency
     

Industry

  • Sports
  • Financial Institutions

Region

  • Latin America & Caribbean
  • North America

Education

  • George Washington University, National Law Center, J.D., 1982
  • Lehigh University, B.S., 1979

Admissions/Qualifications

  • New York
  • California