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Financially Distressed Companies Answer Book (2016 Edition)

Author(s): Douglas P. Bartner, Shearman & Sterling LLP
Practice Area: Banking and finance, Bankruptcy and restructuring, Corporate bankruptcy, Corporate law, Distressed companies, Financial distress
Date: Jun 2016 i Other versions can be found in the Related Items tab.
ISBN: 9781402426308
PLI Item #: 170227

Financially Distressed Companies Answer Book provides a broad overview of topics relating to financially distressed companies, presented in question-and-answer format. It is intended to be an easy reference with respect to issues for the management of a company finding itself in financial distress, a vendor or other creditor trying to manage its exposure or understand a bankruptcy process, or a nonbankruptcy lawyer needing a description of the legal concepts relevant to distressed companies.

The book provides answers detailed enough to provide a working understanding of concepts, and relevant statutory and case law cites to facilitate any necessary further research. Examples and practice tips help illustrate concepts and provide practical guidance. Topics discussed include:

  • The roles and fiduciary duties of directors and management in distress situations;
  • Rights and limitations of creditors in dealing with companies in distress and in bankruptcy;
  • Concepts and considerations relating to out-of-court restructurings;
  • Cross-border reorganizations and issues in international restructurings;
  • Key concepts in U.S. bankruptcy cases;
  • Illustrative timelines to help guide strategic planning; and
  • Practice and cautionary tips to provide guidance on issues such as how to recognize financial distress, when the securities laws might require disclosure, and what actions a creditor may take to protect its rights or limit its exposure.

Douglas P. Bartner is a partner in Shearman & Sterling LLP’s Financial Restructuring & Insolvency Group, where he regularly represents debtors and creditors and acquirors of assets in Chapter 11 bankruptcies and out-of-court restructurings. Mr. Bartner is currently serving as Chair of the firm’s Audit Committee and is a member of the firm’s Practice Management Committee. He served as the global Practice Group Leader of the Financial Restructuring & Insolvency Group for ten years. Mr. Bartner joined Shearman & Sterling in 1982 and became a partner in 1991.

Selected Experience

  • Coldwater Creek in its Chapter 11
  • Lupatech in its Chapter 15
  • Media General in its amend and extend, sale of newspaper assets to and financing agreements with Berkshire Hathaway
  • Delphi Corporation, as special bankruptcy counsel, in its Chapter 11
  • Centrais Eléctricas do Pará, S.A. in its Chapter 15 (Latin Lawyer Restructuring Deal of the Year 2012)
  • JBS, S.A. in its acquisition of Pilgrim’s Pride out of Chapter 11

Selected Publications


  • Financial Restructuring & Insolvency


  • Sports
  • Financial Institutions


  • Latin America & Caribbean
  • North America


  • George Washington University, National Law Center, J.D., 1982
  • Lehigh University, B.S., 1979


  • New York
  • California