While a conventional bankruptcy filing is frequently a viable option for a company seeking to reform its capital structure and operations, it is certainly not the only alternative. Recent years have seen a significant rise in prepackaged bankruptcy filings. This primer serves as a guide to prepackaged bankruptcy and assists practitioners in the evaluation of restructuring alternatives, comparing the advantages and disadvantages of prepacks to the advantages and disadvantages of out-of-court restructurings or conventional filings. The book delves into the foundation for prepacks established in the Bankruptcy Code and in local bankruptcy rules and guidelines, as well as the historical basis for prepacks. It also summarizes the prepack process and contrasts this process with the process for conventional filing. Finally, the primer examines several significant prepacks and identifies a number of recent ones.
|Publisher:||American Bankruptcy Institute|
|Sold by:||Barnes & Noble|
|File size:||1 MB|
About the Author
Steven C. Krause is an associate in Davis Polk & Wardwell LLP’s Corporate Department in New York, where he concentrates in corporate insolvency and restructuring law with its Insolvency and Restructuring Group. He has substantial experience in a broad range of restructurings and bankruptcies and has represented corporations, banks, hedge funds and other financial institutions and other strategic parties in connection with pre-packaged and traditional bankruptcies, out-of-court workouts, DIP and exit financings, bankruptcy litigation and acquisitions of bankrupt and troubled companies. He is a task force leader on ABI’s Business Reorganization Committee, a member of the Pro Bono Advisory Council at the New York Lawyers for the Public Interest, a board member on the Columbia Law School Journal of Law and Social Problems, and author of numerous articles, including a contributing author for the Norton Annual Survey of Bankruptcy Law. Mr. Krause is a member of both the New York and Massachusetts state bars and is admitted to practice before the U.S. Supreme Court, the U.S. Court of Appeals for the Second Circuit, and the District Courts for the Southern and Eastern Districts of New York. Prior to joining the bankruptcy bar, Mr. Krause was the chief operating officer for a toy company, a business reengineering consultant and an Internet entrepreneur. Mr. Krause received his A.B. from Harvard University, where he was a Harvard College Scholar; his M.B.A. from UCLA Anderson School of Management, where he was a member of the Anderson Honor Society; and his J.D. from Columbia Law School, where he was a Harlan Fiske Stone Scholar.