Friendly Foreclosure Sales Vs. Other Ch. 11 Alternatives

Law360, New York (September 23, 2010, 10:59 AM EDT) -- In a traditional Chapter 11 case, a company in financial distress utilizes the tools provided by the Bankruptcy Code to restructure both its business and its balance sheet, and it emerges under a Chapter 11 plan as a going concern.

Sophisticated players, however, have become concerned that the uncertainties, costs and delays inherent in Chapter 11 (especially in light of additional burdens imposed by the 2005 amendments to the Bankruptcy Code), undermine reorganization prospects and erode recoveries. Thus, parties have been exploring alternative methods to sell...
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