Bankruptcy Advisory / Alternatives to Bankruptcy

Navigating the complexities of bankruptcy and its many alternatives.

While bankruptcy and other undesirable alternatives are never an enterprise’s first choice, they are sometimes necessary for companies that are undergoing difficult challenges or in the midst of a significant transition.

Ultimately, the decision on how best to address the challenges of each enterprise requires detailed analysis, collaborative communication, and a complete understanding of each client’s unique goals and objectives.

Phoenix understands the intricacies of bankruptcy and all of its alternatives, each with their own unique, subtle difference. Drawing upon more than 30 years of experience servicing enterprises in distress, Phoenix is uniquely qualified to recognize the views and expectations of our clients’ constituents. Together, our knowledge and our experience enable Phoenix to make the best recommendation to our clients in order to maximize the value of their company and honor their fiduciary duties to creditors and shareholders.

We have a track record of success within the bankruptcy arena, including:

  • Accelerating our clients’ emergence from bankruptcy
  • Arriving at sale prices that significantly exceed the original stalking horse bid
  • Creating and preserving thriving businesses that emerge from the bankruptcy process
  • Maximizing value for the client and all constituents throughout the process

Navigating Bankruptcy

A successful Chapter 11 process requires communication with all constituents in order to move quickly towards a plan of reorganization or a sale of the business or its assets. Phoenix has the experience and know-how to guide clients through the complexity and rigor of a bankruptcy process. Phoenix has extensive experience managing all aspects of the bankruptcy process on behalf of our clients in jurisdictions throughout the United States. Phoenix is attuned to the shareholders’ and management teams’ needs within the bankruptcy process, and often provides interim management services if resources are unavailable.

Navigating Alternatives to Bankruptcy

There are often significant costs associated with the bankruptcy process that can be prohibitive to many middle market companies working through transitional challenges. Phoenix has long viewed bankruptcy as a last resort in addressing our client company’s challenges, and we have been successful in implementing a variety of more cost-effective alternatives. These alternatives to bankruptcy may vary from State to State and should be carefully considered in the context of each unique client situation, but generally include Assignment for the Benefit of Creditors (“ABC”), Out of Court Settlements, Receivership, or Article IX Sales.

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