SERVICES
Restructuring and Bankruptcy

When companies face a financial crisis, it's critical to consider all available options and move urgently and decisively toward a resolution. It's equally important to proceed as cost-effectively as possible to preserve ongoing operations. Fort Dearborn Partners provides objective analysis, responsible advice and focused action when you need it most.

In many cases, it's possible to rebuild the foundation for a profitable future without filing for bankruptcy protection. Strategies such as restructuring debt, rebuilding the capital structure by securing new debt or equity, negotiating settlements with debtors or divesting a portion of the business can give companies the financial cushion they need to survive a financial crisis.

We help owners and managers navigate this turbulent environment by supporting the entire restructuring process. We:

Manage the pre-petition process, which includes identifying professional resources, preparing operating budgets for bankruptcy approval, assisting with schedules for the bankruptcy petition, negotiating Debtor-in-Possession (DIP) financing and developing internal and external communications;
Assist in communicating with customers to hold customer base intact;
Help managers prepare forms and schedules and distribute these documents to the appropriate creditors and others;
Develop and implement tactics to preserve cash and increase operating cash flow;
Develop key management and employee retention plans;
Represent owners during meetings with banks and other secured lenders, credit committees, trustees and other parties of interest;
Develop accounting procedures to segregate pre-petition and post-petition business transactions;
Support the accounting process by managing and tracking disbursements and by assisting with monthly operating reports;
Prepare preference payment analyses;
Work with all stakeholders to develop a plan of reorganization.

In other circumstances, owners must make the painful decision to satisfy creditors by selling assets and operations in a court-supervised auction that maximizes the value of the estate. We use our experience and contacts to market all aspects of the company. We also manage the sale of non-strategic assets. Throughout this complex process, we'll work with all stakeholders to facilitate the reorganization or sale of assets and negotiate a favorable outcome for the estate.