Successful Chapter 11 proceedings require advance planning.
Major activities include:
- Determining which entities will be filed
- Determining best jurisdiction for filing
- Assessing impact of filing on the various business assets
- Assessing impact of filing on cash management systems
- Identifying critical vendors and ensuring continuing services and products required
- Determining requirements and working with counsel to prepare first day orders
- Determining business strategies to minimize negative impact of filing
- Understanding cash flows of operating the business following filing
- Arranging for DIP financing if required
- Developing communication plans for customers, creditors, employees and shareholders
- Preparing Schedules and Statement of Financial Affairs
- Preparing list of Creditors
- Developing plans for rejection of executory contracts
- Conduct negotiations with appropriate constituents to achieve a pre-packaged arrangement that could dramatically reduce time and expense of Chapter 11\proceedings
Our familiarity and experience reorganizing companies in the U.K. and Europe allows Quest to perform comparable pre-planning for complex cross-border transactions.