Dealing With Defaults- What to Do and Not Do When Your Company Violates its Loan Agreement (Series: BUSINESS BORROWING BASICS)
When a company defaults under a loan agreement the results can be catastrophic to the company, and any guarantors of the loan. On the other hand, some defaults are much easier to deal with than others, and even significant defaults can be dealt with in a manner that avoids disaster. This webinar explains the different types of defaults, the range of lender reactions to various defaults, and how to best deal with them. In particular it focuses on the steps borrowers and their advisors can take to keep the lines of communication open and mitigate the negative effects of a default.
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