Financial Poise

Opportunity Amidst Crisis Webinar On-Demand Recording

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This is an in-depth learning opportunity for business owners, corporate directors and officers, private equity professionals, and others seeking to learn the ins and outs of dealing with a financially distressed company – whether running one, buying one, or trying to get paid by one. This webinar is a multi-media improvisational “play” with audience Q&A, designed to teach:

  • How companies and their directors and officers should conduct themselves when facing insolvency
  • Strategic options available to financially distressed companies (friendly foreclosure, assignments for the benefit of creditors, chapter 11, etc.)
  • How to spot opportunities to purchase financially distressed companies & the various strategies and mechanisms available to do so
  • How to structure a deal (Equity v. assets? Hard v. soft assets? Going concern v. pieces)
  • The vendors’ perspective
  • How the impact of COVID-19 plays into all of the above.

Agenda

Act I – Looking in the Mirror

(Understanding the Company’s Current Position)

  • Scene 1 – What’s Your Problem?
  • Scene 2 – Your Problem Is Someone Else’s Opportunity.
  • Scene 3 – Your Problem Is Going to Be Lots Of Other Peoples’ Problems.
  • Scene 4 – Who Ya Gonna Call?

Act I – Key Lessons:

  • How to identify a distressed business’s problems
  • Tricks of the trade – quick fixes for the most common problems
  • The 13 Week Cash Flow
  • How vulture investors operate, how they can hurt, and how they can help
  • The differences between the need for an operational restructuring vs. financial restructuring
  • How to decide whether to fix it or flip it
  • How to manage communications with various creditor constituencies
  • How to locate, interview, and hire professionals who can help
  • Vocabulary lessons: debtor, debtor-in-possession, assignor, fraudulent transfer, preference, fiduciary duty, cash collateral, DIP financing, priorities, first day motions, reorganization, liquidation

Act II – Debating & Deciding

(Understanding the Company’s Options)

  • Scene 1 – Not Every Problem Is a Nail, Not Every Solution Is a Hammer.
  • Scene 2 – White Knights, Stalking Horses & Loan to Own Players.
  • Scene 3 – What Do You Want, What Do You Really Really Want?
  • Scene 4 – Pull the Trigger…Pull a Trigger.

Act II – Key Lessons:

  • The various legal regimes – how a business can reorganize or sell itself: Article 9 sales, assignments for the benefit of creditors, bankruptcy, chapter 7 vs. chapter 11, “regular” chapter 11 vs. subchapter V chapter 11
  • Key Drivers, for example: Personal guarantees, where the business is located, whether there is a secured lender with a lien on all assets, whether you think others will come and bid at an auction for your business
  • How to determine your goal and how to determine it is realistic
  • Why analysis paralysis can be fatal & how to avoid it

Act III – Door #11

(What Chapter 11 and its Alternatives Look Like – A Deep Dive)

  • Scene 1 – Chapter 11 Basics
  • Scene 2 – Comparing Chapter 11 to Its Alternatives
  • Scene 3 – Happy Endings
  • Scene 4 – Not So Happy Endings

Act III – Key Lessons:

  • How to file chapter 11
  • How to file a successful chapter 11 – a broad overview of what a chapter 11 case is
  • The biggest risks of chapter 11
  • Why subchapter V of chapter 11 can be a huge boon for owners of companies with less than $7.5 million (and maybe significantly more) of debt – due to COVID-19
  • How different facts about your company can make chapter 11 a better or worse option than its alternatives

Panelists

  • Brian Boorstein, Granite Creek Capital Partners
  • Michael Brandess, Sugar Felsenthal Grais & Helsinger
  • Matthew Brash, Newpoint Advisors & Subchapter V Trustee
  • Christopher Cahill, L&G Law Group
  • Stephen Darr, Huron Consulting Group
  • Jonathan Friedland, Sugar Felsenthal Grais & Helsinger
  • Bruce Goldstein, Amherst Partners
  • Joe Greenwood, Livingstone Partners
  • Jay Heilbrunn, The Distributor Board Inc.
  • Dimitri G. Karcazes, Goldberg Kohn
  • Gregory A. Lafin, BKD Capital Advisors
  • David Lorry, Versa Capital Management
  • Robert Miller, Rosenthal & Rosenthal
  • Greg Plotko, Richards Kibbe & Orbe
  • Aaron Todrin, Second Wind Consultants
  • Jeffrey T. Varsalone, G2 Capital Advisors

Corporate Sponsors:

Insperity - HR that Makes a Difference Auction Advisors
Private Equity Professional Bankruptcy Data
DailyDAC: Disstressed Asset Central
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