Authors

Firms

Perspectives

Comprehensive Guide

Contributors Overview to the D&O Guide

This updated guide to restructuring is written for the directors and officers at companies facing insolvency in today’s modern environment. With more than 20 chapters representing the perspectives of 90 expert contributors, leading financial advisory, legal, investment banking, insurance and executive staffing firms came together to help directors and officers at the earliest stages in the corporate demise curve.

Who is this for?

The resulting D&O Guide provides on-point, practical corporate governance advice for directors and officers as they prepare for and manage through restructuring situations.

Advisory Board

This book was made possible, in part, thanks to the efforts of an experienced panel of expert advisors who helped guide the creative process, identify subject matter experts, curate topics and act as a sounding board to the editorial team as they developed this comprehensive guide for directors and officers. View Advisory Board.

Chapter Directory

This updated guide to Restructuring explores the ways in which the practical application of the Bankruptcy Code has changed in the last decade.

Read Preface

Are you new to restructuring transactions? A look at the players involved in a restructuring can help flatten the learning curve faced by directors and officers.

Read Chapter 1

What questions should directors and officers be asking when signs of distress appear? The answers are always fact specific.

Read Chapter 2.I
Read Chapter 2.II

Experts discuss human capital issues such as increased turnover, improving staff motivation and the need to revise and realign company performance goals and objectives.

Read Chapter 3

What are the potential sources of liquidity, the pressures and their impact on the restructuring process?

Read Chapter 4

Restructuring support agreements have become more common. What are the drivers and impacts to the distressed debt market?

Read Chapter 5.I
Read Chapter 5.II

A look at DIP financing dynamics including their central role, recent developments, obtaining and enabling, convertibles, pricing trends and issues to monitor.

Read Chapter 6.I
Read Chapter 6.II
Read Chapter 6.III

Liability management transactions may provide financial relief without a bankruptcy filing.

Read Chapter 7.I
Read Chapter 7.II

Consider the communications beyond the legally required disclosures and the benefits that transparency can bring, pitfalls to avoid and how to retain trust.

Read Chapter 8.I
Read Chapter 8.II

Develop an optimal Chapter 11 strategy that minimizes time in bankruptcy, ensures that management is able to achieve its goals and that preserves value.

Read Chapter 9

Experts discuss U.S. Bankruptcy Code’s treatment of employee-related claims and how to help maintain employee morale, minimize potential disruptions and preserve enterprise value.

Read Chapter 10

Experts spotlight mediation as a dispute resolution tool in Chapter 11 cases and considerations for debtors contemplating mediation.

Read Chapter 11

This chapter describers using backstop agreements in Chapter 11 bankruptcy cases, common critiques, recent trends, case law and key terms to understand.

Read Chapter 12

Learn why “stalking horse” bid protections might help the board obtain a deal that maximizes value for the company’s stakeholders.

Read Chapter 13.I
Read Chapter 13.II

Read about access to capital an emerging, post-confirmation debtor can use to fund obligations and provide working capital for ongoing operations.

Read Chapter 14

The Emergence Playbook is a framework for emerging companies to help develop practical strategies across the five performance dimensions of capital, cost, growth, technology and talent.

Read Chapter 15

Experts discuss rethinking a companies' future and the strategies to reconceptualize and reinvent a board of directors.

Read Chapter 16

Specialists break down practical considerations for directors and officers of multinational companies considering restructuring.

Read Chapter 17.I
Read Chapter 17.II

Common features of a venture capital backed company, considerations in a distressed situation and an introduction to in-court proceedings.

Read Chapter 18

What can companies do to put their D&O policy in the best position to protect its directors and officers during a restructuring?

Read Chapter 19

Trust fund tax rules and measures to ensure compliance can help directors and officers avoid potential pitfalls while managing financial distress.

Read Chapter 20

An overview of releases during a restructuring and the important considerations in deciding whether to grant releases.

Read Chapter 21

A look at litigation trusts and their purposes, mechanics, governance, funding and other considerations as companies emerge from bankruptcy.

Read Chapter 22

In the "insolvency zone", decisions made by directors and officers can violate certain obligations that they have to the shareholders of the company.

Read Chapter 23