1: The Basics of Liquidation
2: Chapter 7 Liquidations
3: Liquidating in Chapter 11
4: A Tale of Two Liquidations: Case Studies in Chapter 7 and
Chapter 11
5: Employee Issues
6: Day-to-Day Management
7: Locating and Disposing of Assets
8: Pursuing Litigation
9: Claims and Distributions
10: Receiverships and Assignments for the Benefits of Creditors
11: Closing Down
Plus Thirteen Appendices
Dr. Ben S. Branch has been a professor of Finance at the University
of Massachusetts since 1975. He has had a major role in three large
bankruptcy/liquidations: First Republic Bank (Chairman of the
Senior Creditors Committee and Chairman of the Board of the
Liquidating Corporation); Bank of New England Corporation (Chapter
7 Trustee); VFBLLC (Manager of the liquidations corporation for
Vlasic Funds). He has also written extensively on the area of
bankruptcy and financial distress.
Hugh M. Ray has practiced restructuring, bankruptcy, and insolvency
law for nearly four decades and has helped draft and shape
bankruptcy legislation on a number of occasions during those years.
He has co-written two prior books on creditors' rights and
bankruptcy liquidations and is a frequent lecturer at the National
Conference of Bankruptcy Judges, as well as former chair or the
American Bar Association's Business Bankruptcy Committee.
Robin Russell has practiced law at Andrews Kurth LLP since 1987. As
a partner in their bankruptcy section she combines a depth of
experience in both bankruptcy litigation and bankruptcy
transactional work. She has represented corporate debtors,
liquidating trustees, bondholders, unsecured creditors' committees,
bank groups, landlords, trade creditors, and bidders for estate
assets in Chapter 7 and 11 bankruptcy proceedings. She has authored
numerous publications on creditors'
rights and financial transactions and frequently lectures on these
topics.
"Considering more than 95 percent of businesses fail within their
first five years, it's nothing short of remarkable that Last Rights
is the first book of its kind. ...The authors' collective
experience makes for a resonant step-by-step presentation that
balances liquidation's business and legal aspects."--The
CommonWealth
"The authors of this fine guide to liquidating businesses are
experienced attorneys and trustees in a complicated and oftentimes
emotional process of selling assets that once comprised the
company's core. The very being, hopes and aspirations of its owners
need to be understood. This is an indispensable guide to a negative
but important phase in a company's evolution."--Dr. Edward I.
Altman, Max L. Heine Professor of Finance, NYU Stern School of
Business
"The authors have provided a particularly useful primer for the
student and practitioner on the liquidation of a bankruptcy estate.
Covering the roles of participants-- institutional and
individual--they have broken the process down into its component
elements, including all stages, aspects and interests that are
affected and involved when a business cannot be reorganized and
must be dissolved. It is a professional and scholarly tour de
force."--Harrison J.
Goldin, Senior Managing Director, Goldin Associates, LLC
"Branch, Ray and Russell have written the definitive book on
corporate liquidations. Every aspect of the process is discussed in
detail and throughout the book there are numerous real life
examples illustrating the concepts and procedures involved. The
book also contains appendices with detailed instructions and forms
which are ready to use in real life situations. This essential tool
box should be on the shelf of every professional involved in
corporate
liquidations including attorneys, accountants, indenture trustees,
auctioneers, appraisers, investment bankers, and certified
turnaround professionals."--Edward L. Rothberg, Board Certified
Business
Bankruptcy Attorney, Weycer, Kaplan, Pulaski & Zuber, P.C.,
Houston, Texas
"Last Rights is a simple and practical overview to be used by
professionals engaged in corporate liquidations. It offers a
thoughtful and exceptionally clear presentation of the advantages
and disadvantages that will confront them. The real life
experiences of the authors add to the value of this book. It should
be required reading as a guidebook in business and law schools in
the study of bankruptcy law and business management."--Honorable
William
Schultz, former United States Bankruptcy Judge for the Southern
District of Texas; member of Board of Advisors, Grace & Co.
Consultancy, Inc.
"Considering more than 95 percent of businesses fail within their
first five years, it's nothing short of remarkable that Last Rights
is the first book of its kind. ...The authors' collective
experience makes for a resonant step-by-step presentation that
balances liquidation's business and legal aspects."--The
CommonWealth
"The authors of this fine guide to liquidating businesses are
experienced attorneys and trustees in a complicated and oftentimes
emotional process of selling assets that once comprised the
company's core. The very being, hopes and aspirations of its owners
need to be understood. This is an indispensable guide to a negative
but important phase in a company's evolution."--Dr. Edward I.
Altman, Max L. Heine Professor of Finance, NYU Stern School of
Business
"The authors have provided a particularly useful primer for the
student and practitioner on the liquidation of a bankruptcy estate.
Covering the roles of participants-- institutional and
individual--they have broken the process down into its component
elements, including all stages, aspects and interests that are
affected and involved when a business cannot be reorganized and
must be dissolved. It is a professional and scholarly tour de
force."--Harrison J.
Goldin, Senior Managing Director, Goldin Associates, LLC
"Branch, Ray and Russell have written the definitive book on
corporate liquidations. Every aspect of the process is discussed in
detail and throughout the book there are numerous real life
examples illustrating the concepts and procedures involved. The
book also contains appendices with detailed instructions and forms
which are ready to use in real life situations. This essential tool
box should be on the shelf of every professional involved in
corporate
liquidations including attorneys, accountants, indenture trustees,
auctioneers, appraisers, investment bankers, and certified
turnaround professionals."--Edward L. Rothberg, Board Certified
Business
Bankruptcy Attorney, Weycer, Kaplan, Pulaski & Zuber, P.C.,
Houston, Texas
"Last Rights is a simple and practical overview to be used by
professionals engaged in corporate liquidations. It offers a
thoughtful and exceptionally clear presentation of the advantages
and disadvantages that will confront them. The real life
experiences of the authors add to the value of this book. It should
be required reading as a guidebook in business and law schools in
the study of bankruptcy law and business management."--Honorable
William
Schultz, former United States Bankruptcy Judge for the Southern
District of Texas; member of Board of Advisors, Grace & Co.
Consultancy, Inc.
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