RESTRUCTURING, INSOLVENCY & TROUBLED COMPANIES: Help, My Business is In Trouble!
When a business becomes financially troubled, the business owner often experiences denial, paralysis, overreaction or all of the above. Lenders commonly lose confidence and trust in the business, as communications can break down, deadlines are missed, obligations go unfulfilled and promises are broken. Small business owners and real estate developers commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually have some options, and even some leverage. This webinar explains what a business owner should - and should not - consider and do when dealing with financial stress and distress. Specific topics include the possibility of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides business owners and their advisors with an overview of various restructuring and liquidation methods, a framework for how to decide among them, and practical tips for traversing the difficult environment that is financial distress.
