Bankruptcy or Workout? Many companies are quick to file for Bankruptcy as the ultimate solution to their problems without being fully informed as to the serious permanent consequences for both trade and customer relationships. Even if your business is incorporated at the time of the Bankruptcy filing, there is only a ”paper” wall between the senior officers and the Company. For example, personal guarantees / loans to the business can devastate personal credit.
We can quickly establish a voluntary workout program with your creditors to avoid Bankruptcy. In the process, we will completely restructure your corporate debt and position your company for a rapid return to profitability. This will enable your business to reap most of the benefits of a ba nkruptcy filing without suffering the drawbacks and expense of this protracted process.
The Cost of the Bankruptcy ProcessA recent study showed average bankruptcy costs as being equivalent to 7.5% of the business’s assets immediately prior to filing. In dollar terms it showed that the hard costs were unlikely to be less than $1m for the majority of companies. Approximately half of this amount was taken up with the Company’s own Bankruptcy Attorney Fees with a further 25% going to pay the Creditors’ Attorney Fees. [This last liability is often overlooked]. The remaining 25% was absorbed by the cost of Asset Disposals and other Professional Fees.
Our Corporate Debt Resolution Service can help you with a single problem account or a complete restructuring of your corporate debt.
Corporations of all sizes nationwide are already using this unique and timely service.
Our Debt Resolution Service is equipped to handle a wide range of financial problems including those that require an immediate solution. Our objective will be to restore both your ”bankability” and profitability by reshaping your Balance Sheet and Profit & Loss. We achieve this through the settlement, reduction and liquidation of excessive debt, including disputed claims.
Some of the areas we address in our process include:
• Debt Management and Reduction
• Financial Workouts and Turnarounds
• Voluntary Liquidation as an Alternative to Bankruptcy
• Restructuring of Real Estate Assets
• Receivable Financing and Collection
• Contract Negotiation & Resolution
• Loan Qualification
• Sale/Merger of Business
Kreye Partners LLC is not a law firm nor does it provide legal advice. Suitable legal counsel can be arranged if required
“We were in default of our covenant with our primary lender. I should say that this particular national bank is well known for its unwillingness to compromise on any debt. In spite of this, KreyePartners went on to secure an outstanding agreement with the Bank, resulting in a 55% reduction in the principle amount outstanding plus the elimination of all outstanding fees, costs and interest. Aaron then went to do an excellent job in promptly completing the refinancing arrangements with another bank.”