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Topics Corporate bylaws — severe problemsReceivership to avoid bankruptcyBest time to file restructuring planPayout period — 5 or 10 years?Creditor voting processAbsolute Priority RulePlan confirmationGuest: Marcus A. Helt — McDermott Will & Emery This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Court oversight — the U.S. TrusteeWhat to submit to the TrusteeCreditors' CommitteeWhen to start restructuring planGuest: Joe Marshall — Marshall Law This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Creditors' meeting & what it meansPersonal guarantees — options & rightsHiring & firing during bankruptcyGuest: Jason Manfrey — Fox Rothschild LLP This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics First-day motionsKeeping & paying employeesCritical vendorsOwner's salary, bonuses & perksFamily members' positionsMonthly court reportingGuest: Christopher A. Bailey — Holland & Knight\ This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Small Business Ch.11 — Subchapter VReporting cash on bankruptcy formsSecured vs. unsecured creditorsRejecting unwanted contractsCreditor clawbacksGuest: Areya Holder — Private Practice, Dallas TX This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Best state to file inHow to choose the correct law firmBankruptcy expectations answeredWhere money comes from to pay feesHandling litigation out-of-courtGuest: Kim Lynch — Forman Law This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics The Disclosure StatementCreating the best bankruptcy planLiquidation Analysis ReportCourt costs & who paysHosted by Neil Goldstein & Stephen B. Ravin This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Preference claims & lookback periodsKeeping vendors happy before filingWhat business owners need to knowBest time to fileGuest: Josh Eppich — Bonds Ellis This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Preference claims & lookback periodsKeeping vendors happy before filingWhat business owners need to knowBest time to fileGuest: Josh Eppich — Bonds Ellis This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics Other options to Chapter 11Out-of-court restructuringABCs — Assignment for Benefit of CreditorsReceivershipsArticle 9 salesGuest: Stephen B. Ravin — Saul Ewing LLP This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics: 13-week cash flow reportsForbearance agreementsAlternatives to bankruptcySpeaking with vendors pre-filingGood restructuring plansGuest: Nick Jalowski — Cambridge Financial This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics: Recognizing when bankruptcy is bestPersonal guarantees & significanceAssets vs. liabilitiesKey professionals neededWhat about the employeesGuest: Tom A. Colvin — MCR Capital Advisors This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

Topics: Chapter 11 vs. Chapter 7Costs and immediate impactHow long bankruptcy lastsWhen to fileGuest: Stephen B. Ravin — Saul Ewing LLP This is an abridged version of the original episode. Feel free to go back and listen to the full version in our show feed. Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

**Warning: This podcast is not a substitute for professional financial or legal advice. Be sure you speak to a CRO or Lawyer before filing for Bankruptcy.**  Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.    Find more at corporatebankruptcyatoz.com 04:17 – What is Debtor in Possession Lending (DIP loan) 04:49 – Is a DIP loan is different from a conventional loan? 05:13 – New DIP lender’s higher level of protection – 1st lien 07:27 – Is a DIP loan like a line of credit or term loan? 08:03 – How long should the DIP loan stay in existence? 09:05 – Why a lender would want to make a loan to a company in bankruptcy 10:06 – Legal position of the new lender 10:52 – Other reasons for a DIP loan if you arent needing to pay vendors 12:12 – Requirements to get a DIP loan 13:20 – Why the DIP loan gets preference over all other debts 18:10 – Who has control over cash receipts for a DIP loan 19:28 – Is the DIP loan mutually exclusive from the bankruptcy? 20:25 – Cash available on a DIP loan 21:38 – Are personal guarantees necessary to get a DIP loan? 22:20 – How would new personal guarantees needed to get a DIP loan impact other PG’s 24:06 – Are interest rates higher for a DIP loan? 24:43 – Collateral necessary to get a DIP loan? 26:00 – Parting words on DIP lending – Look for the best deal 28:11 – Highlights from Mike’s DIP best case 32:06 – Overtime Guest Info: Mike Fussell oversees new business opportunities and provides guidance in structuring credit facilities to middle-market companies utilized for growth, acquisitions, turn-arounds and general working capital needs. He maintains relationships with Aegis’ capital providers and serves as Chair of the Credit Committee. Michael has over 15 years of experience in finance with positions at RBC, PNC and Wells Fargo serving in various commercial banking capacities. Call him 813-437-2511 Host Info: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email [email protected] or visit ElementaryBusiness.com. Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Call 973-286-6714. Or email him [email protected] You can also visit his firm's website Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.

**Caution:  Be sure you speak to a CRO or Lawyer before filing for Bankruptcy. This podcast is meant to educate and is not financial or legal advice**  Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.    Find more at corporatebankruptcyatoz.com 05:19 – Definition of a Merchant Cash Advance, MCA 05:50 – Purchase of future receivable 06:18 – Is an MCA and advance or a loan? 06:43 – The MCA type loan is against a future receivable that may never exist  07:53 – Primary lender attitudes towards MCAs 09:19 – Confession of Judgement and the impact on the company 12:11 – What happens when a judgement is filed. 13:56 – MCA vs. conventional loans - differences  16:47 – Usurious interest rates and their tactics to collect 17:40 – Usury laws. Different states have different laws. 19:25 – Does a future receivable equate to a company asset? 22:26 – The MCA takes money from the company’s bank account. Wire or ACH. 23:50 – Company options if it cannot pay the MCA 25:01 – Should MCA companies fear litigation against the company 25:15 – Legal defenses for the company 27.46 – Lender liability laws 29:57 – Recommendations when fighting an MCA 32:06 – Interesting case study Guest Info: Marc Mellman spent 20 years as a trial attorney representing banks and financial institutions, 10 years as the chief operating officer of a global energy and environmental brokerage house, and for the past 16 years as a senior executive, general counsel, and management consultant in the factoring and financial services industries. Marc is both the Founder and Managing Director of Clermont Strategic Consulting, a full-service management consulting firm, and the Founder of MCA Stacking Solutions. Call him (973) 868-0767 or email [email protected] Host Info: Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth. Neil's book is now available on Amazon.com Call 940-808-9451 or Email [email protected] or visit ElementaryBusiness.com. Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers. Call 973-286-6714. Or email him [email protected] You can also visit his firm's website Want more content? Then head over to Patreon and become a member. On Patreon we are working on a catalogue of bonus episodes and you can hear the answers to your questions from a business perspective instead of just a legal one. If you want more direct access to Neil and Steve or want to supplement the education you are already getting here, then follow the link in the show notes below and become a Patron today.