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Technology and Dot-Com Dispositions.
Publication: Business Credit Publication Date: 01-MAY-01 Author: Kupetz, David S.
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COPYRIGHT 2001 National Association of Credit Management
It is inevitable that a significant portion of companies in new or emerging industries will come to a point where they are no longer viable and must pursue an ultimate disposition strategy. Many businesses face hard choices in 2001 as the economy slows down and debt builds up. Not infrequently, the stark reality is that these companies' realistic alternatives are limited to the following: (1) merging with or being acquired by a qualified candidate; (2) commencing a formal bankruptcy proceeding (chapter 11 reorganization or a chapter 7 liquidation); (3) engaging in an out-of-court debt restructuring or workout; (4) shutting down their business, and simply closing their doors (an informal death); or (5) making an assignment for the benefit of creditors. Depending on the circumstances, any one of the above alternatives may be the best choice. However, in many instances, where the goal is to transfer the assets of the troubled business to an acquiring entity free of the unsecured debt incurred by...
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