I have led some major matters, including In re Continental Airlines and two important international cases, In re Yukos Oil and In re Xacur, each involving substantial trials. I have led many other debt restructure matters where we preserved the going concern value of large and small companies without so much public dispute.

Four papers contain the essence of what I learned about (i) how to approach restructure of businesses and governments, and (ii) how to provide new capital in connection with a restructure.

• Overview of a Financial Restructure (for fiduciaries of an insolvent business)
• Providing Capital to a Chapter 11 Company (for people wishing to invest in a going concern whose finances need to be restructured)
• Government Debt Restructure Principles
• Leading a Government to Solvency (for government leaders who want to take on and overcome insolvency)

These papers outline a straightforward approach. First, understand debt structure, assets and cash flows to understand what values are available to support refinance and restructure.

Then determine (i) what core business or collection of government services you intend to preserve, (ii) how much cost cutting can be imposed, (iii) how much revenue and new capital can be raised, and (iv) ultimately, how to allocate available cash flows base on the order of legal priority.

Armed with these, create a fair and equitable restructure plan and make a deal based on it with major creditors, and/or pursue a prompt court case to force that plan on holdouts who refuse to make a reasonable deal.

If it becomes necessary to use a Chapter 11 case to force your plan on holdouts, Houston is an excellent place to do that.

I have been a bankruptcy lawyer in Houston since 1985, during which time I led important cases in New York and Delaware, including the first major Delaware case, Continental Airlines.

Houston has become a superb place to reorganize a business, including ones with headquarters in foreign countries. This is described in detail in Complex Chapter 11 Case Practice in the Southern District of Texas and International and Cross Border Bankruptcy Cases in the Southern District of Texas.

I have the insight, skill and gumption to help you develop a restructure plan, make good deals to implement it, and try your case, if necessary. I will work collegially with the transaction and litigation lawyers needed to carry out that plan.

Since age 65, I practice alone and no longer have partners who (i) write hundred page contracts and (ii) deal with massive discovery in litigation. But I am able to work well with firms that have those resources.

This could be firms you already rely on for transactions and litigation, or firms I might introduce you to that specialize in financial restructure and have substantial resources. If you are already pursuing a restructure, I might be able to help you and your counsel handle certain pieces of litigation or resolve certain issues where there is a conflict, or look at any new approaches. In any of these circumstances, I will work collegially with other lawyers to help you accomplish your goals.

I would be pleased to talk with you about anything posted on this website, and about your issues.

Zack Clement

Zack A. Clement, PLLC, Attorney at Law
832 274 7629
zack.clement@icloud.com

Admitted in Texas, Illinois, New York, District of Columbia and Virginia