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Content
- Intro
- Contents
- 1 The Basics of Liquidation
- The General Liquidation Environment
- An Overview of Liquidation under the Bankruptcy Code
- Liquidation outside Bankruptcy
- The Liquidator
- Managing the Players in the Liquidation Process
- What Is There to Liquidate?
- Conclusion
- 2 Chapter 7 Liquidations
- The Chapter 7 Trustee
- Duties of a Trustee
- Operating the Debtor's Business
- Compensation of a Chapter 7 Trustee
- Conclusion
- 3 Liquidating in Chapter 11
- The Road to a Chapter 11 Liquidating Plan
- Why Liquidate under a Chapter 11 Plan?
- The Estate Representative as Liquidator
- Funding the Liquidating Trust
- Compensation of the Liquidator under a Liquidating Plan
- Duties of the Liquidator under a Liquidating Plan
- Powers of the Liquidator under a Liquidating Plan
- Continued Bankruptcy Court Supervision of Liquidation
- Conclusion
- 4 A Tale of Two Liquidations: Case Studies in Chapter 7 and Chapter 11
- Friede Goldman Halter Inc.,
- The Friede Crisis
- The Friede Bankruptcy Filing
- The Marketing of Assets
- The Liquidating Plan
- Bank of New England Corporation
- Conclusion
- 5 Employee Issues
- Retention of Employees
- Termination of Employees
- Dealing with Unions and Collective-Bargaining Agreements
- Benefit Plans
- Workers' Compensation Insurance
- Conclusion
- 6 Day-to-Day Management
- Office Space and Staff
- The Debtor's Records
- The Liquidator's Records
- Accounting Issues
- Intercompany Issues
- Employment and Supervision of Professionals
- Leases and Executory Contracts: Assets or Liabilities?
- Conclusion
- 7 Locating and Disposing of Assets
- Locating Assets
- Evaluating the Assets
- Sale of Assets
- Abandonment of Assets
- Tax Considerations
- Conclusion
- 8 Pursuing Litigation
- Investigation
- Statutes of Limitations
- Forum Selection
- Avoidance Actions
- Other Causes of Action
- Fee Arrangements
- Economic Assessment
- Managing the Ongoing Litigation
- Conclusion
- 9 Claims and Distributions
- Absolute Priority under the Bankruptcy Code
- The Role of the Liquidator
- Investigation of Claims
- Claim Objections
- Strategy for Reducing or Eliminating Claims
- Subordination of Claims
- Distribution Mechanics
- Substantive Consolidation
- Conclusion
- 10 Receiverships and Assignments for the Benefits of Creditors
- State Court Receiverships
- Federal Equity Receiverships
- Assignment for Benefit of Creditors
- State Avoidance Laws
- Conclusion
- 11 Closing Down
- Record Retention
- Dissolution of Business Entities
- Final Reports
- Conclusion
- Appendix 1 Guidelines for Employment and Supervision of Professionals
- Appendix 2 Investment Guidelines for Chapter 7 and Chapter 11 Trustees
- Appendix 3 Asset Category Definitions
- Appendix 4 Internal Control Guidelines
- Appendix 5 Discounted Cash-Flow Valuation
- Appendix 6 Evaluation of Preference Payment Claims
- Appendix 7 Litigation Net-Present-Value Exercise
- Appendix 8 Calculating the Impact of Subordination on Distributions
- Appendix 9 State-by-State Dissolution Requirements
- Appendix 10 Asset Purchase Agreement
- Appendix 11 State-by-State Receivership and Assignment for the Benefit of Creditors Laws
- Appendix 12 Document Retention Policy
- Appendix 13 Distribution Letter and Questionnaire
- Index
- A
- B
- C
- D
- E
- F
- G
- H
- I
- J
- K
- L
- M
- N
- O
- P
- Q
- R
- S
- T
- U
- V
- W
- Z
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