Corporate Bankruptcy A to Z

Neil Goldstein
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Corporate Bankruptcy A to Z

The corporate bankruptcy process is explained by seasoned bankruptcy attorneys, consultants, judges and companies who have filed for bankruptcy. It begins with what is bankruptcy, to who should file, how to find the best attorney, what forms to file, what happens to the company after the filing, the plan to exit and how it all works.

  1. 02/22/2022

    Bonus Ep 2 DIP Lending (Guest Mike Fussell with Aegis)

    **Warning: This podcast is not a substitute for professional financial or legal advice. Be sure you speak to a CRO or Lawyer before filing for Bankruptcy.**  Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.    Find more at corporatebankruptcyatoz.com 04:17 – What is Debtor in Possession Lending (DIP loan) 04:49 – Is a DIP loan is different from a conventional loan? 05:13 – New DIP lender’s higher level of protection – 1st lien 07:27 – Is a DIP loan like a line of credit or term loan? 08:03 – How long should the DIP loan stay in existence? 09:05 – Why a lender would want to make a loan to a company in bankruptcy 10:06 – Legal position of the new lender 10:52 – Other reasons for a DIP loan if you arent needing to pay vendors 12:12 – Requirements to get a DIP loan 13:20 – Why the DIP loan gets preference over all other debts 18:10 – Who has control over cash receipts for a DIP loan 19:28 – Is the DIP loan mutually exclusive from the bankruptcy? 20:25 – Cash available on a DIP loan 21:38 – Are personal guarantees necessary to get a DIP loan? 22:20 – How would new personal guarantees needed to get a DIP loan impact other PG’s 24:06 – Are interest rates higher for a DIP loan? 24:43 – Collateral necessary to get a DIP loan? 26:00 – Parting words on DIP lending – Look for the best deal 28:11 – Highlights from Mike’s DIP best case 32:06 – Overtime Guest Info: Mike Fussell oversees new business opportunities and provides guidance in structuring credit facilities to middle-market companies utilized for growth, acquisitions, turn-arounds and general working capital needs. He maintains relationships with Aegis’ capital providers and serves as Chair of the Credit Committee. Michael has over 15 years of experience in finance with positions at RBC, PNC and Wells Fargo serving in various commercial banking capacities. Call him 813-437-2511 Host Info: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com. Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Call 973-286-6714. Or email him sravin@saul.com You can also visit his firm's website Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    37 min

  2. 02/16/2022

    Bonus Ep 1 Merchant Cash Advances / MCAs (Guest Marc Mellman with MCA Stacking Solutuions)

    **Caution:  Be sure you speak to a CRO or Lawyer before filing for Bankruptcy. This podcast is meant to educate and is not financial or legal advice**  Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.    Find more at corporatebankruptcyatoz.com 05:19 – Definition of a Merchant Cash Advance, MCA 05:50 – Purchase of future receivable 06:18 – Is an MCA and advance or a loan? 06:43 – The MCA type loan is against a future receivable that may never exist  07:53 – Primary lender attitudes towards MCAs 09:19 – Confession of Judgement and the impact on the company 12:11 – What happens when a judgement is filed. 13:56 – MCA vs. conventional loans - differences  16:47 – Usurious interest rates and their tactics to collect 17:40 – Usury laws. Different states have different laws. 19:25 – Does a future receivable equate to a company asset? 22:26 – The MCA takes money from the company’s bank account. Wire or ACH. 23:50 – Company options if it cannot pay the MCA 25:01 – Should MCA companies fear litigation against the company 25:15 – Legal defenses for the company 27.46 – Lender liability laws 29:57 – Recommendations when fighting an MCA 32:06 – Interesting case study Guest Info: Marc Mellman spent 20 years as a trial attorney representing banks and financial institutions, 10 years as the chief operating officer of a global energy and environmental brokerage house, and for the past 16 years as a senior executive, general counsel, and management consultant in the factoring and financial services industries. Marc is both the Founder and Managing Director of Clermont Strategic Consulting, a full-service management consulting firm, and the Founder of MCA Stacking Solutions. Call him (973) 868-0767 or email mmellman@mcastackingsolutions.com Host Info: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com. Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Call 973-286-6714. Or email him sravin@saul.com You can also visit his firm's website Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    39 min

  3. 01/11/2022

    Ep 11 Working In Bankruptcy (Guest Marcus Helt)

    **Warning: This podcast is not a substitute for professional financial or legal advice. Be sure you speak to a CRO or Lawyer before filing for Bankruptcy.**  Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.    Find more at corporatebankruptcyatoz.com 3:55 – Corporate by-laws and other documents leading to bankruptcy 6:20 – Remedies when the corporate by laws are inadequate. 7:20 – Presenting a plan to the court – the right timing 9:45 – What is in the plan 10:37– Debts are paid over a flexible period. 13:10 – Who prepares the plan? 14:08 – What happens to the plan after it has been submitted - Disclosure statement 16:12 – Interested parties get to see the plan.  17:35 – Should the company fear publishing too much information? 18:08 – Days Court needs to review the plan 19:17 – Are most plans confirmed? 20:39 – Procedure for creditors to discuss the company’s plan 21:51 – Interested parties can submit their plan after the exclusivity period 22:53 – How does the court select the best plan to confirm 23:55 – Any consideration given to the existing owners  24:41 – Advice to clients when preparing a plan 25:56 – Principals and new value that needs to be added 27:23 – After confirmation 28:12 – After exiting bankruptcy Guest Info: Marcus A. Helt focuses his practice on restructuring and insolvency matters, emphasizing bankruptcy, corporate restructuring, workouts, creditors’ rights and commercial litigation. Marcus typically represents borrower clients, buyers and other interested parties in all industries. Call him 214-210-2821 or email Mhelt@mwe.com Host Info: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com. Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Call 973-286-6714. Or email him sravin@saul.com You can also visit his firm's website Want more content? Then head over to Patreon and become a mem Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    37 min

  4. 12/28/2021

    Ep 10 Contracts And Court Meetings (Guest Joe Marshal)

    NOTE: This podcast is not a substitute for professional consul. Consider reaching out directly to any person on this show if you have further questions before taking action on your own.**  Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex. Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com  Their door is always open and they will respond.    Find more at corporatebankruptcyatoz.com 06:33 – First day hearings 07:28  – Motion to apply for the use of cash 09:32 – The role of the United States Trustees’ Office 10:54 – Do US Trustee’s handle cases differently? 13:12 – Reports and schedules that need to be filed 14:51 – Creditor’s committee, when and why it forms. 16:54 – Creditor influences on the bankruptcy 17:53 – Are creditor committees formed in all cases? 19:10 – Creditor rights in a bankruptcy 20:21 – The company pays for the creditor’s committee 24:07 – 341 Creditor meeting conducted by US Trustee 26:10 – Can the meeting get confrontational? 27:04 – Timing and filing of a restructuring plan 28:38 – Joe’s thoughts on bankruptcy. A negotiating tool. 30:05 – Steve’s closing thoughts. Fees of attorneys 30:50 – Joe’s interesting bankruptcy case Guest Info: Joe Marshall started Marshall Law in 2015 following 25 years of practice at a Texas commercial law firm.  This transition allowed him to continue to provide the highest quality legal representation in more practice areas with flexibility in rate structures and greater personal client service. Call him 214-579-9173 or email JMarshall@MarshallLaw.net Host Info: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com. Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Call 973-286-6714. Or email him sravin@saul.com You can also visit his firm's website. Want more content? Then head over to Patreon and become a member.  Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    36 min

  5. 12/14/2021

    Ep 9 Upon Filing What Changed (Guest Jason Manfrey)

    **Warning** This podcast is not meant to be a substitute for Legal and Financial advice. Get a professional's opinion before filing for Bankruptcy Protection. Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex. Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com  Their door is always open and they will respond. Find more at corporatebankruptcyatoz.com 06:04 –  Approval of cash collateral 08:33 – 341 meeting – IDI – Initial Debtors Interview. Expectations and the game plan 09:24 – When creditors become hostile 10:15 – Example of a 341 meeting. 12:47– A prepackaged bankruptcy 13:39 – If the company’s actual results differ from the budget 14:28 – When operations after the filing are less than expected 15:21 – The court involvement 16:09 – When reports lack credibility 17:10 – How to work with important vendors 21:37 – Management’s compensation  23:25 – Personal guarantees – Not stayed 25:30 – Creditor litigation after a filing  26:10 – Can the company hire and fire employees? 27:12 – How family members are treated 28:04 – Closing thoughts Jason Manfrey An experienced bankruptcy attorney, Jason has appeared before the Third Circuit, as well as bankruptcy and district courts throughout Pennsylvania, New Jersey and Delaware. He has guided clients in structuring sales of coal and natural energy companies and their mining/mineral lease rights through Chapter 11 bankruptcy. Jason also has significant experience in the automotive industry, including the largest Porsche dealership in the Commonwealth of Pennsylvania. You can reach him at 215-299-2122 or email jmanfrey@foxrothschild.com. Host Information: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition. Mr. Goldstein works closely with owners to structure improvements in both operations and finances. With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is  available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors a Want more content? Then head over to Patreon Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    36 min

  6. 11/30/2021

    Ep 8 Immediate Changes (Guest Chris Bailey)

    **Caution** Seek professional legal advice before deciding if bankruptcy protection is what your company needs. Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex. Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com  Their door is always open and they will respond. Find more at corporatebankruptcyatoz.com Episode 8 – Chris Bailey 06:55 – The paperwork is filed, what happens next. 07:41 – First day motions allowing the company to continue in business 09:50  – Does the company operate normally? section 363 11:06 – The company becomes the custodian for the creditors 11:45 – Creditor’s committee 12:51 – Applying for cash collateral. 16:59 – What happens to employees and the pay owed when the company filed 18:15 – What happens to contractor’s compensation 19:06 – Unpaid commissions, bonuses for employees.  20:28 – Budget to be submitted to the court 22:53– First contact with the court 24:10 – Essential creditors – what makes a creditor essential 25:17 – Can a company change after filing for bankruptcy 26:50 – What happens to owners compensation 28:34 – Treatment of family members 29:50 – Monthly Operating Reports (MOR) 31:08 – Closing thoughts Christopher A. Bailey focuses his practice on bankruptcy and restructuring. He represents both debtors and creditors in complex corporate reorganizations and bankruptcy litigation throughout the United States. Mr. Bailey's experience includes representing financially distressed entities across various industries, including healthcare, real estate, and energy. You can reach him at 214-969-1784 or email Chris.Bailey@hklaw.com. Host Information: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition. Mr. Goldstein works closely with owners to structure improvements in both operations and finances. With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is  available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers.  Call 973-286-6714. Or email him sravin@saul.com Do you have any concerns about the bankruptcy process and how it will impact your business? Why not ask the experts? Feel free to reach out to Neil or Steve with your questions and you may even hear them answered in the mail bag. Be sure you subscribe the podcast and please consider leaving a 5 star review. New episodes air, every other Tuesday. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    41 min

  7. 11/16/2021

    Ep 7 The Petition (Guest Areya Holder)

    **Keep in mind** This podcast is not a substitute for professional council. Consult an expert before filing for Bankruptcy Protection. Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex. Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com  Their door is always open and they will respond. Find more at corporatebankruptcyatoz.com Click here to access the documents mentioned in the episode B201 B201A B309E2   07:06 – Sub Section 5 bankruptcy filing – how it is different 09:29 – What a voluntary petition is and its purpose 10:11 – Forms to file and why are they so long and the importance of DISCLOSURE 14:14 – Where and how the forms are filed 16:01 – A case study where the CRO is hired by the company prior to the filing 17:03 – How to report cash on the form and timing for a filing 19:14 – Monthly operating Report (MOR) cash balances to report 24:19 – Amending Bankruptcy schedules 25:14 – Details needed for machinery, equipment, and similar assets 27:34 – Should the company be concerned about disclosing Intellectual Property details 28:59 – When company’s change their mind about filing a bankruptcy 30:16 – Definition and rights of a secured creditor and their priority 37:19 – Unsecured creditors, reconciling claims versus company books 39:03 – Company contracts and leases 42:32 – Look back periods for insiders (owners) 43:48 – Attorney’s perspective on how a company filed the forms 44:47 – Hardest forms to complete - Statement of financial Affairs 46:29 – Will the information submitted by the company be used by others 48:08 – Closing thoughts Since the start of her legal career, Areya Holder has focused on bankruptcy work for consumers and businesses in Texas. She established her private practice in 2003 after working for six years as an attorney for the Dallas Chapter 13 Bankruptcy Trustee.  Call her at 972-438-8800 or email her amy@holderlawpc.com. Host Information: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition. Mr. Goldstein works closely with owners to structure improvements in both operations and finances. With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    41 min

  8. 11/02/2021

    Ep 6 How To Pick A Lawyer, Litigation (Guest Kim Lynch)

    **Caution to the Listener** We recommend you seek professional counsel before deciding if Bankruptcy is the only or  best option for your company.        Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex. Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com  Their door is always open and they will respond. Find more at corporatebankruptcyatoz.com 5:55 – Are the Bankruptcy rules and laws the same in every state? 9:33 – Interviewing law firms. How to choose the best one 11:50 – How the client processes answers to their questions 13:18 – How important are personal feelings when selecting a bankruptcy attorney 14:17 – The cost to file the bankruptcy petition 14:47 – Is a sole practitioner at a disadvantage? 15:48 – The different components of a bankruptcy and costs 19:11 – How can a company afford to pay attorneys 20:25 – Can the attorney help to resolve hard disputes 22:14 – What if a creditor does not want to accept a restructuring plan 24:22 – Litigation in an out of court restructuring plan 24:43 – Avoid new lawsuits when advising them the company is in distress 27:45 – Closing thoughts 33:12 – Overtime Kim Lynch of Forman Law, focuses her practice in the field of bankruptcy law and represents trustees, fiduciaries, and debtors in Chapter 7, 11 and 13 bankruptcy cases. Ms. Lynch has successfully represented clients in Chapter 11 corporate cases involving real estate, trucking, manufacturing, retailing and internet services industry. In many of these cases, she resolved complicated lien issues, resulting in the client’s successful reorganization. Call her at 201-845-1000 or email klynch@formanlaw.com. Host Information: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition. Mr. Goldstein works closely with owners to structure improvements in both operations and finances. With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers.  Call 973-286-6714. Or email him sravin@saul.com Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

    41 min
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About

The corporate bankruptcy process is explained by seasoned bankruptcy attorneys, consultants, judges and companies who have filed for bankruptcy. It begins with what is bankruptcy, to who should file, how to find the best attorney, what forms to file, what happens to the company after the filing, the plan to exit and how it all works.

Information

  • Creator
    Neil Goldstein
  • Years Active
    2021 - 2022
  • Episodes
    16
  • Rating
    Clean
  • Copyright
    © 2022 Corporate Bankruptcy A to Z
  • Show Website
    Corporate Bankruptcy A to Z

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