Managing a Restructure
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Learn how to communicate the restructuring process to your business.So few managers and business owners have been on the inside of a bankruptcy, restructuring, or reorganization and have no idea why the other side is doing what they are doing or what they are trying to accomplish, let alone understand how a company can use the process to its advantage. This topic will help you understand how to manage a successful company restructure through communication, engaging employees, selecting the right people, and with case studies.
AuthorsKirk B. Burkley, Esq., Bernstein-Burkley, P.C.
Communicating a Vision for Success
• First Step Is Recognizing There Is a Problem
• Cash Is King
• Understanding Business Archetypal Structure (Developed as a Way to Establish How the Organization Functions to Execute Its Goals)
• Communicate Organizing the System in a New Way to Increase the Effectiveness of the Operation, May Result in Changing the Structure
Selecting the Right People
• Other Professionals
Communicating the Why and What
• Restructuring Under Chapter 11 Generally Means Relieving Debt Obligations That Stifle Growth, Terminating Unprofitable Contracts, or Selling Unproductive Assets
• Restructure Will Likely Also Include Reconfigurations or More Surface-Level Changes Such as Adding, Splitting, Transferring, or Dissolving Business Units That Do Not Necessarily Impact the Deeper Structure
• Continue Operations and Serve Customers
• Low Impact
• Ordinary Course Operations
• Debtor's Business Judgment/Oversight of Court
• Century III Mall
• MHF Trucking
• Prime Metals and Alloys, Inc.