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Financially Distressed Companies Answer Book (2019 Edition)

Author(s): Shearman & Sterling LLP, Fredric Sosnick
Practice Area: Banking and finance, Bankruptcy and restructuring, Corporate bankruptcy, Corporate law, Distressed companies, Financial distress
Date: Aug 2018 i Other versions can be found in the Related Items tab.
ISBN: 9781402431265
PLI Item #: 239380

Financially Distressed Companies Answer Book provides a broad overview of topics relating to financially distressed companies. 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 reading. Examples and practice tips help illustrate concepts and provide practical guidance. Topics discussed in Financially Distressed Companies Answer Book 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
  • 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

Fredric Sosnick is a partner at Shearman & Sterling LLP and the global Financial Restructuring & Insolvency Team Leader. He previously served on the firm’s Executive Group and Policy Committee. Fred focuses on advising clients in connection with large and complex domestic and international out-of-court restructurings and U.S. Chapter 11 cases. He represents debtors, official creditors’ committees, lender groups, DIP lenders, creditors and acquirers of assets. Fred is recognized as a Top 100 Restructuring and Turnaround Professional by Global M&A Network and as a Rising Star in the Financial and Corporate section of the 2017 IFLR1000—The Guide to the World’s Leading Financial Law Firms.