How to Achieve a Successful Start on a Chapter 11 Bankruptcy

Abstract

Why do 85% of companies filing bankruptcy die during the reorganization process? How can a good start to the bankruptcy process improve a company's prospects? How can the CRO help get the company off on the right foot? How do first-day orders set the tone for the success or failure of the bankruptcy case? Success in bankruptcy is tied to a number of factors, not least of which is the financial condition and prospects of the debtor. However, planning and communication of the debtor's plans are keys to gaining and maintaining the support of the various parties in interest, and moving the bankruptcy along quickly and efficiently.