The Team List CEO and key management by name. Include previous accomplishments to show that these are people with a record of success. Summarize number of years of experience in this field.
Mission Statement The mission of the NACM Distressed Business Services is to assist and facilitate in the return to profitability of a business that is experiencing temporary financial distress. As a member owned association of business credit professionals, it is incumbent on us to use our knowledge and expertise as best we can to work with all parties in restructuring a company. In those situations where it is not possible to rehabilitate the company, it then becomes our responsibility to assist in an orderly liquidation of the business and its assets, protecting the interests of both the secured and unsecured creditor community..
NACM OREGON SERVICES Credit Reports Industry Credit Groups Collections Education Distressed Business Services Accounts Receivable Analysis Credentia Staffing Services
DISTRESSED BUSINESS SERVICES ASSIGNMENT FOR BENEFIT OF CREDITORS RESTRUCTURING APPRISALS, AUCTIONS AND LIQUIDATIONS ACCOUNTS RECEIVABLE ANALYSIS
Distressed Business Services (continued) REPRESENT INDIVIDUAL CREDITOR ON UNSECURED CREDITORS COMMITTEES SECRETARIAL AND ADMINISTRATIVE SERVICES FOR CREDITORS COMMITTEES FACILITATE PREPACKAGED BANKRUPTCY ABILITY TO TALK WITH OTHER CREDIT PROFESSIONALS IN THEIR “OWN” LANGUAGE
BANKRUPTCY ALTERNATIVES Extensions or Settlements General Assignment for Benefit of Creditors
EXTENSIONS OR SETTLEMENTS Functions like a Chapter 11 Reorganization Meeting of creditors is called UCC-1 executed to prevent run to courthouse Creditor’s committee formed, equitable plan formulated
Creditor’s vote on acceptance of workout plan Implement and fund plan, distribute pro-rata payments, close case Flexible = speed, less cost, efficient Plan can be used as a reorganization plan in a pre- packed bankruptcy if a hostile creditor group attempts to stop the workout plan
Functions like a Chapter 7 Disinterested 3 rd party acts as fiduciary Assets sold, usually at auction Sales done for cash which speeds distribution All other assets converted to cash Distribute available funds pro-rata, close case Does not provide discharge of debts GENERAL ASSIGNMENT FOR BENEFIT OF CREDITORS
PREPACKAGED BANKRUPTCY WORK WITH MANAGEMENT AND COUNSEL IN THE INITIAL PROCESS (I.E. PREPARING AND MAILING OF NOTICES) FACILITATE THE ORGANIZATION OF THE CREDITORS COMMITTEE ASSIST IN NEGOTIATIONS BETWEEN CREDITORS AND DEBTORS ASSIST IN PREPERATION OF REORGANIZATION PLAN(S)
CHAPTER 11 BANKRUPTCY Reorganization Debtor in Possession Potential for survival Ability to make payments Settlement options Sale of business units Liquidation of assets No longer option for many small to medium sized business.’
CREDITORS COMMITTEES REPRESENTATION OF CREDITOR ON COMMITTEE SERVE AS COMMITTEE SECRETARY SERVE IN AN ADVISORY CAPACITY TO COMMITTEE MEMBERS ASSIST IN PREPARATION AND/OR REVIEW OF REORGANIZATION PLAN(S) SERVE AS AN EXPERT WITNESS ON PREFERENCE ISSUES
General Assignment Liquidation 3 rd party acts as fiduciary Sale of assets (auction) Cash sales – speeds distribution
Chapter 7 Liquidation Sale Of Business Preference Actions Auctions Liquidations Ultimate discharge of all dischargeable debts