Imagine you are on the board of directors of a company. The company’s performance has taken a turn for the worse and a restructuring may be necessary. Are you ready for what comes next? There are many paths to a successful in-court or out-of-court restructuring, but the foundation is always the same — the right process. Who should be involved in that process? What should that process look like? Two critical questions — among a myriad of others — directors should be asking when signs of distress appear and before declining performance becomes a full-blown crisis. The answers to those questions are highly fact specific.
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