Guiding Distressed Companies Through The Crunch

Law360, New York (October 28, 2009, 4:18 PM EDT) -- Though options are improving, many companies still need considerable help in navigating solutions to cash shortages and impending loan maturities — and attorneys must act quickly if a company is to avert insolvency, according to experts.

The legal challenges typically include analyzing debt provisions, determining disclosure obligations for impairments and fiduciary duty questions, and addressing possible complications arising from cost-cutting and layoffs.

“When we’re working with the company in that context, there’s a whole host of issues that we become embroiled in,” said Peter T. Healy,...
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