Recession: That's on the Minds of CEOs

 

"Fortune 500 CEO survey: The leaders of America’s biggest companies are bracing for a recession" 

That's the headline at Fortune by Alan Murray and the Editors. It had been posted May 24, 2022. And soon enough that mindset could include considering a restructuring. 

There are myriad definitions for "restructuring." But essentially it facilitates a turnaround. The do-over could involve business practices, actual operations, debt, and more. In place of the old could be a new structure. And it isn't only done to "save" a business. It could be put in play for a sale, buyout, or merger.

The process is complex. 

Corporate leaders will find useful the International Comparative Legal Guide (CLG) to Restructuring & Insolvency Laws & Regulations 2021-2022. It has been published by the Global Legal Group Ltd. in London, with the “Preface” by Contributing Editor Jat Baines of Macfarlanes LLP.

As Paul Weiss discusses in a Client Memorandum two of partners participated in that publishing feat. The two are Alan Kornberg and Elizabeth McColm. They wrote the USA chapter for the book. Here is that chapter, available to be read, at no charge.

Essentially Kornberg and McColm discuss the key issues to consider when a company is in financial difficulties. Those include the restructuring options, insolvency procedures, cross-border concerns, COVID factors, and more.

More specifically, what the chapter covers are these topics:

Overview

Key issues to consider when the company is in financial difficulties

Restructuring options

Insolvency procedures

Tax

Employees

Cross-Border Issues

Groups

Covid-19

The Future.

Paul Weiss has a formal Restructuring Practice. Given how convoluted a restructuring is, that is multi-disciplinary.

Kornberg and McColm, along with 11 other Paul Weiss lawyers in that practice, have been included in the 2022 Lawdragon guide for the 500 Leading US Bankruptcy and Restructuring lawyers. Here is Paul Weiss' own report on that recognition.

Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com. Now and then she does freelance assignments for professional services firms such as Paul Weiss.

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