During 40 years practicing law with Sidley & Austin, Weil Gotshal & Manges, and Fulbright & Jaworski, I worked with some smart people restructuring billions of dollars of debt. Over 250,000 people have jobs in companies and governments whose debt I helped to restructure.
I learned how to restructure the finances of businesses, cities, states and sovereign nations, including how they can obtain new capital in connection with their financial restructure.
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.
I can help you deal with financial restructure and insolvency litigation.
Three 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)
- Leading a Government to Solvency (for government leaders who want to take on and overcome insolvency)
- Providing Capital to a Chapter 11 Company (for people wishing to invest in a going concern whose finances need to be restructured)
These papers outline a straight-forward approach. First, analyze debt structure and cash flow to understand the severity of the insolvency and the values available to support restructure
Then determine (i) what is the core business or collection of government services to be preserved, (ii) how much cost cutting can be imposed, (iii) how much revenue and new capital can be raised, and (iv) ultimately, what cash flow is available to pay debts in 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.
These three papers are available here for free download. They will help you begin thinking about how to restructure the debt of your company or government, or about the opportunity to provide new capital in connection with such a restructure.
I would be pleased to talk with you about how to use these papers and the other free resources available on this website.
Zack A. Clement, PLLC, Attorney at Law
832 274 7629
Admitted in Texas, Illinois, New York, District of Columbia and Virginia