56 min

Ep 5 The Plan (Guest Maris Kandestin‪)‬ Corporate Bankruptcy A to Z

    • Management

**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
 
5:43 – Introduction
7:10 – The bankruptcy plan and disclosure statement
7:47 – What is a plan and why it is necessary
9:15 – Significance of disclosure statement
10:58 – Who prepares the disclosure statement
14:14 – How many years the plan should cover
16:45 – What makes a plan acceptable
18:10 – Cash flow 
18:38 – Projected profitability
19:09 – The creditor’s position
21:49 – The 1111b election – used by creditors
26:17 –Debt from prior to the bankruptcy filing
28:19 – Court costs and who pays them
29:35 – How  creditors get paid
32:09 – What happens if the company cannot pay creditors after the plan has been accepted
34:35 – Can the company pay creditors early?  Can it be less
35:20 – Convenience class
38:03 – Can the company pay a different amount to creditors?
39:44 – Parting words
41:22 – Interesting case
44:22 – Maris’ contact information
45:44 – Overtime
Maris Kandestin focuses her practice on bankruptcy and restructuring, with an emphasis on debtor-side, complex Chapter 11 representations. In addition to representing companies in Chapter 11, she represents equity holders, secured lenders, and other creditors and parties in interest. Maris also represents foreign representatives in Chapter 15 proceedings and advises clients in connection with out-of-court restructurings. Call her at 302 485 3940 or email Mkandestin@mwe.com if you have any questions.
Host Information:
Neil Goldstein 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  sravin@saul.com
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.

**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
 
5:43 – Introduction
7:10 – The bankruptcy plan and disclosure statement
7:47 – What is a plan and why it is necessary
9:15 – Significance of disclosure statement
10:58 – Who prepares the disclosure statement
14:14 – How many years the plan should cover
16:45 – What makes a plan acceptable
18:10 – Cash flow 
18:38 – Projected profitability
19:09 – The creditor’s position
21:49 – The 1111b election – used by creditors
26:17 –Debt from prior to the bankruptcy filing
28:19 – Court costs and who pays them
29:35 – How  creditors get paid
32:09 – What happens if the company cannot pay creditors after the plan has been accepted
34:35 – Can the company pay creditors early?  Can it be less
35:20 – Convenience class
38:03 – Can the company pay a different amount to creditors?
39:44 – Parting words
41:22 – Interesting case
44:22 – Maris’ contact information
45:44 – Overtime
Maris Kandestin focuses her practice on bankruptcy and restructuring, with an emphasis on debtor-side, complex Chapter 11 representations. In addition to representing companies in Chapter 11, she represents equity holders, secured lenders, and other creditors and parties in interest. Maris also represents foreign representatives in Chapter 15 proceedings and advises clients in connection with out-of-court restructurings. Call her at 302 485 3940 or email Mkandestin@mwe.com if you have any questions.
Host Information:
Neil Goldstein 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  sravin@saul.com
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.

56 min