The Executive Guide to Corporate Bankruptcy

This resource-intensive guide provides the business professional, including the troubled company executive, credit manager, workout professional and investor in distressed debt or equity, with a guided tour through the intricacies of the bankruptcy process in a concise and readily understood manner. The authors—all seasoned professionals— walk the reader through the stages of a Chapter 11 proceeding while addressing the business realities and dynamics affecting the diverse and often competing constituents involved in the restructuring process. To assist the reader in navigating through this new world, the book’s forty page Glossary contains a detailed explanation of the terminology used in bankruptcy proceedings. The reader will readily become conversant with the vocabulary, rules, and sometimes arcane language of this unique process. Extensive endnotes accompany each chapter of this relatively compact book. In addition, the authors provide a real-life glimpse of the types of documents and pleadings commonly filed during the reorganization process through a series of Appendices containing sample documents. These documents are drawn from actual Chapter 11 cases and include explanatory material about what the documents are intended to accomplish. This book will be of interest to corporate executives, boards of directors, investors, creditors, bankruptcy professionals, and anyone contemplating entry into the business restructuring arena. As the authors say in the opening chapters: “Read on . . . the game is indeed afoot.”

About the Author

Thomas J. Salerno is a partner in, and co-chair of, the International Reorganization Practice Group of the international law firm of Squire, Sanders&Dempsey L.L.P. Mr. Salerno graduated from Rutgers University (B.A., summa cum laude) and Notre Dame Law School (J.D., cum laude), where he served as an editor of the Notre Dame Law Review. Throughout the last nearly 30 years, Mr. Salerno has represented debtors, creditors' committees, lenders, and other parties in interest in complex Chapter 11 reorganizations involving public debt and equity securities throughout the U.S., as well as parties in insolvency proceedings in the Czech Republic, Switzerland, France, Germany, and the United Kingdom. Jordan A. Kroop is a partner in the Bankruptcy&Restructuring Group of Squire, Sanders&Dempsey L.L.P., resident in the Phoenix office. Mr. Kroop is a graduate, magna cum laude, of Brown University and the University of Virginia School of Law. Mr. Kroop represents publicly-traded and privately-held corporate debtors and significant creditors, including secured lenders, official creditor committees, commercial lessors, and financial institutions in some of the largest Chapter 11 cases in the nation. Craig D. Hansen is a partner in the Bankruptcy&Restructuring Group of Squire, Sanders&Dempsey L.L.P. and is a nationally recognized restructuring lawyer, having played prominent roles in some of the nation's largest and most complex restructurings in recent years. He is best known for representing debtors, although Mr. Hansen also has an active practice representing hedge funds and private equity funds, creditors' committees, and strategic and financial investors in a wide variety of industry and market sectors.