Experts Discuss Alternatives to Chapter 11 Bankruptcy
WASHINGTON, Aug. 6, 2013 /PRNewswire/ -- Three corporate restructuring experts see an increasing number of distressed companies choose alternatives to filing for chapter 11 protection. The trend is especially prevalent in the middle market where companies and their lenders have less money available to fund a traditional chapter 11 restructuring.
"Chapter 11 no longer provides many companies a realistic opportunity to rehabilitate and get a fresh start under the Bankruptcy Code. Many in the insolvency community agree that it is simply not a cost effective process," says Dan Dooley, Principal and CEO of MorrisAnderson.
Mr. Dooley will be joined by Kay Standridge Kress, a corporate restructuring and bankruptcy partner in the Detroit office of Pepper Hamilton LLP, and Jeffrey Wurst, chairman of the Financial Services, Banking, & Bankruptcy Department at Ruskin Moscou Faltischek, P.C. on Thursday, August 15, 2013, at 11:00 a.m., Eastern Time, to share their observations and practice tips during a live webinar.
Mr. Dooley, Ms. Kress and Mr. Wurst will answer two important questions in this webinar:
(1) What are the primary alternatives to a bankruptcy filing; and
(2) Why would unsecured creditors agree to a bankruptcy alternative and not attempt to file an involuntary petition?