This timely and very practical guide shows you how to plan, carry out and complete an effective out-of-court restructuring or "workout." Leading you step by step through the legal, business and procedural details, it answers your questions on the pros and cons of negotiating a workout as opposed to filing for bankruptcy. Fully explains the complexities of exchange offers and prepackaged plans and analyzes such essential matters as directors' liability, lender's concerns, and taxation in the workout framework. Includes provisions revised or added pursuant to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Pub. L. No. 109-8 (2005).

You'll find expert guidance through various workout procedures, including: