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  • Posts by John Ames
    Senior Partner

    John is a member of the Tax and Finance Department. He works exclusively in the business reorganization process, both in Chapter 11's and state law workouts. He represents debtors, as well as creditors, both secured and unsecured. He ...

Within a few days after a debtor files a bankruptcy petition, the Clerk of the Bankruptcy Court sends a written notice to all creditors identified by the debtor.  The notice informs the creditor of the bankruptcy filing and provides details including instructions about filing a proof of claim.  In the bankruptcy context, a claim is a right to payment.  A form for the creditor to complete to ...

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Debtors in chapter 11 reorganizations frequently seek to sell some or all of their assets.  The sale process almost always includes an auction, often begun with a stalking horse, or initial, bid that is subject to higher and better offers.  Purchasers are reluctant to spend time and money for due diligence that would ultimately benefit another bidder at the auction.  The seller-debtor ...

One of Benjamin Franklin’s most eloquent sayings was: “[A]n investment in knowledge always pays the best interest.” The American Bankruptcy Institute (ABI) took this saying to heart when it funded1 an independent, academic study of professional fees in Chapter 11 proceedings in February of 2005 (Fee Study).2

Often times when a foreign company hears the word “bankruptcy,” a great fear overcomes them.

The initial impulse is to ignore bankruptcy concerns and hope it will go away because of the challenges American bankruptcies can present. However, there are significant opportunities for foreign companies to participate in the chapter 11 reorganization processes in the United States if the company is a creditor, supplier or contract holder with the debtor. Further, even foreign companies that had no direct involvement with the U.S. company prior to the bankruptcy still have opportunities to participate in the reorganization.

Often times when a foreign company hears the word “bankruptcy,” a great fear overcomes them. The initial impulse is to ignore the bankruptcy and hope it will go away because of the challenges American bankruptcies can present. However, there are significant opportunities for foreign companies to participate in the chapter 11 reorganization processes in the United States if the company is a creditor, supplier or contract holder with the debtor. Further, even foreign companies that had no direct involvement with the U.S. company prior to the bankruptcy still have opportunities to participate in the reorganization.

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