The Professional's Guide to Nonbankruptcy Alternatives

As our bankruptcy laws, their implementation and the interpretations of them have developed, so too have their complexities and costs. Categorically, those interested in availing themselves of the bankruptcy system are not always in the strongest position to absorb these costs. But fear not: Bankruptcy is only one instrument in the restructuring professional’s toolbelt. In this book, we touch on creditor compositions, Restructuring Support Agreements (RSAs), assignments for the benefit of creditors, UCC Article 9 foreclosures and receiverships. The optionality provided by these (mainly) out-of-court restructurings is crucial when aligning potential restructuring strategies with the goals of a financially distressed business. The Professional’s Guide to Nonbankruptcy Alternatives outlines how the restructuring community can expand upon its perceptions of available options when businesses are faced with distress.