Well, your company’s in financial trouble
and you want to negotiate a corporate bankruptcy plan and you ask yourself, “How do I do this?”
My name is Andy Forman. I’m a consumer and business bankruptcy lawyer in Tampa, Florida.
In order to negotiate a corporate reorganization plan, you need to evaluate what it is you
want to accomplish. You need to identify the assets of the company, the liabilities of
the company, and you need to develop a plan that you can go to each of those creditors
with and propose a solution to the problem — a restructuring of the debt, perhaps a
partial return of the collateral, perhaps sale of the collateral and application of
the proceeds. But the way you actually negotiate this is you retain a business bankruptcy lawyer,
and he will contact or she will contact your creditors and propose a reorganizational structure
that, hopefully, will get the blessing and cooperation of the creditors. Once you have
the majority of the creditors agreeing to such a plan, you would file the corporate
reorganization and your plan and disclosure statement would provide for the treatment
that you all have agreed on. You need to obtain counsel because this is extremely complicated.
My name is Andy Forman. Good luck with your corporate reorganization.